PRE MARKET
Gift Nifty indicates a negative start for the broader index in India, with a loss of 140.50 points or 0.60 percent. The Nifty futures were trading around the 23,137.50 level.
The Nasdaq tumbled more than 2% to confirm a correction on Thursday while the S&P 500 and the Dow fell more than 1%. Investors scrambled for safety on fears of escalation in the U.S.-Israeli war against Iran, which has sent oil prices soaring and exacerbated inflation concerns.
Thursday marked the biggest one-day decline for the Nasdaq and the S&P 500 since January 20.
The Dow Jones Industrial Average fell 469.38 points, or 1.01%, to 45,960.11, the S&P 500 lost 114.74 points, or 1.74%, to 6,477.16 and the Nasdaq Composite shed 521.74 points, or 2.38%, to 21,408.08.
A selloff on Wall Street extended to Asia as traders stayed cautious even after President Donald Trump again delayed his deadline for Iran to reach a deal. Asian shares fell over 1% after both US benchmarks slid to the lowest level since September on Thursday.
STOCKS IN NEWS
Infosys
The digital services and consulting company has announced a definitive agreement to acquire Optimum Healthcare IT, a KLAS-recognised healthcare IT digital transformation and consulting firm based in Florida, for $465 million, and Stratus Global, a US-based insurance tech consulting company, for $95 million.
HFCL
The board has approved the setting up of a preform manufacturing facility through the company’s wholly owned subsidiary, HFCL Technologies, with a total investment of Rs 580 crore. This expansion is part of the company’s strategy to achieve backward integration within its optical fibre cable business, with preform being the basic raw material for manufacturing optical fibre.
Rain Industries
Promoter Nivee Holdings has acquired 4 lakh equity shares (0.1189 percent) of the company on March 24 and 80,000 shares (0.0238 percent) on March 25 via the open market, increasing its stake to 2.56 percent from 2.42 percent earlier.
Azad Engineering
The company has signed a long-term contract and price agreement for an eight-year term with Mitsubishi Heavy Industries, Japan (MHI), for the supply of highly engineered and complex hot-section nozzle vane segments of gas turbine engines.
Le Travenues Technology
Online bus ticketing platform AbhiBus (ixigo’s bus business) has announced a partnership with Fleetx, an AI-driven fleet intelligence platform, to introduce advanced video telematics and driver safety solutions across its bus operator network.
Sula Vineyards
The company has signed a definitive agreement with Moët Hennessy India to acquire Chandon’s world-class estate in Nashik, spread across 19 acres. The facility includes an advanced wine production unit with an annual capacity of 4.5 lakh litres, scalable up to 13 lakh litres.
Source – Moneycontrol
