PRE MARKET
GIFT Nifty indicate a negative start for the broader index in India, with a loss of 93.00 points or 0.39 percent. The Nifty futures were trading around 24,004.00 level.
The S&P 500 and the Nasdaq eked out modest gains on Monday in muted trading, as investors took a breath at the top of an eventful week, with earnings, economic data, the U.S. Federal Reserve’s rate decision and the ebb and flow of Middle East tensions all crowding the docket.
The Dow Jones Industrial Average rose 72.62 points, or 0.15%, to 49,168.04, the S&P 500 gained 8.85 points, or 0.12%, to 7,173.93 and the Nasdaq Composite gained 50.50 points, or 0.20%, to 24,887.10.
Asian stocks held near record highs and the dollar was muted on Tuesday as investors weighed the geopolitical maelstrom in the Middle East and braced for megacap earnings and a slate of central bank meetings, with the Bank of Japan due later in the day.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index slightly went down -0.76, -0.64, and 0.46 percent respectively.
STOCKS IN NEWS
RailTel Corporation of India
The company has received a Letter of Acceptance (LoA) worth Rs 145.5 crore from Eastern Coalfields. The order includes the provision of MPLS-VPN, internet leased line (ILL), video conferencing (VC), and managed bandwidth services (MBS) for Eastern Coalfields.
Samvardhana Motherson International
Samvardhana Motherson International (SAMIL) will acquire a 51 percent equity stake in Nissin Advanced Coating Indo Co (Nissin India) from Nissin Electric Co, Japan. Post completion of the acquisition, the company will hold a 100 percent stake in Nissin India via SAMIL and its wholly owned subsidiary, Samvardhana Motherson Innovative Solutions, in the ratio of 51 percent and 49 percent, respectively. Thereafter, Nissin India will become an indirect wholly owned subsidiary of SAMIL.
Mahindra and Mahindra
M&M has completed the execution of a Share Purchase Agreement with certain promoters of Carnot Technologies for the acquisition of an additional 28.03 percent stake in Carnot from these promoters.
Following the transaction, the company’s holding in Carnot will increase to 80.72 percent and collectively to 89 percent in terms of voting rights.
Asian Granito India
Arthkumbh Ventures has acquired 19 lakh shares (a 2.3 percent stake) in Asian Granito India for Rs 14.49 crore at Rs 76.29 per share. Meanwhile, Ranjanben Pranjivanbhai Bavarava has net bought 21.63 lakh shares (a 2.6 percent stake) for Rs 16.61 crore at Rs 76.79 per share.
Fractal Industries
Nirbhay Investment Opportunities Fund – I, an alternative investment fund (AIF) managed by Nirbhay Asset Management, has acquired 66,000 shares (a 0.84 percent stake) in garment manufacturer Fractal Industries for Rs 1.45 crore at Rs 220.88 per share.
Source – Moneycontrol
