PRE MARKET
GIFT Nifty indicate a negative start for the broader index in India, with a loss of 194.00 points or 0.80 percent. The Nifty futures were trading around 24,062 level.
Wall Street oscillated on Wednesday, as investors juggled spiking crude prices, the US Federal Reserve’s interest-rate decision, and a quartet of high-profile earnings released after the closing bell.
The Dow Jones Industrial Average fell 280.12 points, or 0.57%, to 48,861.81, the S&P 500 lost 2.82 points, or 0.04%, to 7,135.98 and the Nasdaq Composite gained 9.44 points, or 0.04%, to 24,673.24.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index edged mixed -1.26, -1.42, and 0.24 percent respectively.
STOCKS IN NEWS
Larsen & Toubro
The company has executed a Share Purchase Agreement with Hyderabad Metro Rail, a Government of Telangana enterprise, for the disposal of its entire shareholding in its subsidiary, L&T Metro Rail (Hyderabad) Limited, for Rs 1,461.47 crore.
Brigade Enterprises
Brigade Group has announced a strategic partnership with Bain Capital to develop a 2 million sq ft premium mixed-use project in Whitefield, Bengaluru. The project will be developed through a 50:50 joint venture between the two partners, with a total project investment of approximately Rs 2,200 crore. It will be built on an approximately 11-acre land parcel.
Puravankara
The company’s subsidiary, Starworth Infrastructure & Construction, has received a Letter of Intent for the execution of civil, structural, waterproofing, finishing, and allied works for a residential project—Nature’s Nest—in Bengaluru, awarded by NPS Developers, for an approximate contract value of Rs 144.45 crore.
Federal Bank
The board has approved the appointment of Manikandan M as Chief Financial Officer and Key Managerial Personnel of the bank, effective May 1. He is currently working as Deputy Vice President-II and Head – Financial.
Source – Moneycontrol
