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PRE MARKET
Gift Nifty indicates a flat start for the broader index in India, with a gain of 4 points or 0.02 percent. The Nifty futures were trading around the 25,077.50 level.
The S&P 500 and Nasdaq notched record-high closes on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations that the U.S. Federal Reserve will cut interest rates next week.
The S&P 500 climbed 0.30% to end the session at 6,532.04 points, closing with a record high for the second straight day. The Nasdaq gained 0.03% to 21,886.06 points for its third consecutive record-high close. The Dow Jones Industrial Average declined 0.48% to 45,490.92 points.
Asian equities were mixed Thursday after a rally on Wall Street drove stocks and bonds higher, as a drop in producer prices supported bets the Federal Reserve will resume cutting interest rates next week.
Japan’s Nikkei and the Taiwanese weighted index went up 0.93, and 0.88 percent, respectively, while Hong Kong’s Hang Seng went down 0.89 percent.
STOCKS TODAY
Dr Reddy’s Laboratories
The company has announced the completion of a definitive transaction with Johnson & Johnson to acquire the Stugeron brand (including local brands Stugeron Forte and Stugeron Plus, as well as related assets) across 18 markets in the Asia-Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions, with India and Vietnam as key markets.
Jupiter Wagons
The company’s subsidiary, Jupiter Tatravagonka Railwheel Factory, has received a Letter of Acceptance (LOA) from the Ministry of Railways for the supply of 9,000 LHB axles for FIAT-IR bogies. The order value is Rs 113 crore.
Rail Vikas Nigam
RVNL has emerged as the lowest bidder (L1) for a project worth Rs 169.5 crore from West Central Railway. The project involves design/modification, supply, erection, testing, and commissioning of 220/132kV/2X25 kV Scott-connected traction substations and switching posts with AT, including SCADA work, between the BINA to RTA section of the Bhopal division.
Biocon
Biocon has inaugurated its first US manufacturing facility in Cranbury, New Jersey, through its wholly owned subsidiary Biocon Generics Inc (BGI).
Highway Infrastructure
The company received a Letter of Award (LOA) worth Rs 69.8 crore from the National Highways Authority of India for operating the Muzaina Hetim Fee Plaza in Uttar Pradesh. Operations are scheduled to begin on October 18. Additionally, it has entered into a contract agreement to operate a toll plaza on a 4-lane Greenfield Expressway in Rajasthan for Rs 18.97 crore, with operations scheduled to commence on September 11.
Source – Moneycontrol