PRE MARKET
GIFT Nifty indicate a flat to positive start for the broader index in India, with a gain of 16 points or 0.07 percent. The Nifty futures were trading around 24,116 level.
US stocks closed lower on Tuesday, backing away from record closing highs as renewed concerns over the artificial intelligence boom weighed on technology stocks days before five of the sector’s most high-profile companies were due to post quarterly results.
The Dow Jones Industrial Average rose 88.47 points, or 0.18%, to 49,231.39, the S&P 500 lost 35.11 points, or 0.49%, to 7,138.80 and the Nasdaq Composite lost 223.30 points, or 0.90%, to 24,663.80.
Asian stocks opened lower after a tech-led selloff hit Wall Street as concerns mounted over returns from the billions spent on artificial intelligence ahead of a slew of megacap company earnings.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index edged mixed -1.03, 1.15, and -0.93 percent respectively.
STOCKS IN NEWS
Solara Active Pharma Sciences
The company’s Ibuprofen manufacturing facility in Puducherry has successfully completed an unannounced inspection conducted by the US Food and Drug Administration (US FDA) between February 2 and 6. The US FDA has issued an Establishment Inspection Report (EIR), classifying the facility as Voluntary Action Indicated (VAI), and has concluded the inspection as closed.
Wanbury
The Ministry of Food and Drug Safety (MFDS – Korea FDA) has completed a regulatory inspection of the company’s Patalganga facility. The facility was inspected for three days, from April 7 to 9, and the inspection was completed with zero observations.
Enviro Infra Engineers
The company’s subsidiary, EIE Renewables, has entered into a Share Purchase Agreement for the acquisition of 100 percent share capital of Suyog Urja in a phased manner for Rs 311 crore. Under this arrangement, EIE Renewables will acquire a 51 percent stake immediately, while the remaining 49 percent stake will be acquired in phases within a period of 27 months.
Bharat Heavy Electricals
BHEL has entered into a licensing agreement for the transfer of technology (LAToT) with NSTL-DRDO, Visakhapatnam, for the fabrication, installation, and commissioning of the LM2500 Gas Turbine Infrared Suppression System (GT-IRSS) for naval vessels.
NSTL-DRDO (Naval Science & Technological Laboratory), Visakhapatnam, is a constituent laboratory under the Defence Research and Development Organisation (DRDO).
Alok Industries
The board has appointed Rajbir Saini as Manager and Key Managerial Personnel of the company for a period of three years, effective April 28. He is currently serving as the Chief Human Resources Officer of the company.
Source – Moneycontrol
