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PRE-MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to open on a flat note Thursday tracking mixed global market cues.
Gift Nifty was trading around the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
US stock market indices ended higher on Wednesday, with the S&P 500 setting a closing record, ahead of the inflation data and US Federal Reserve commentary that would signal its interest rate path.
The Dow Jones Industrial Average rallied 477.75 points, or 1.22%, to 39,760.08, while the S&P 500 jumped 44.91 points, or 0.86%, to 5,248.49. The Nasdaq Composite ended 83.82 points, or 0.51%, higher at 16,399.52.
Asian markets traded lower on Thursday, while the Australian stocks hit a record high. Japan’s Nikkei 225 declined 0.98%, while the Topix plunged 1.08%. South Korea’s Kospi fell 0.19%, while Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
JSW Energy: The power company said the board of directors will be meeting on April 2 to consider raising funds through the issuance of eligible securities of the company via private offerings, preferential allotment basis, qualified institution placement, or any other method.
Jio Financial Services: Jio Financial currently holds a 76.98 percent stake in Jio Payments Bank (JPBL). JPBL is a joint venture of Jio Financial and the State Bank of India. Jio Financial has subscribed to 40 lakh equity shares of Rs 10 each of JPBL for cash at par, aggregating Rs 4 crore for its business purposes. After the completion of the transaction, Jio Financial’s shareholding in JPBL will increase to 77.25 percent.
Tata Elxsi: The Tata Group company has announced a collaboration with Drager, a global leader in medical and safety technology, to advance critical care innovation in India. Drager is expanding its research and development presence by establishing a new offshore development center (ODC) at Tata Elxsi’s facility in Pune.
Biocon: The biopharmaceuticals company has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), UK, for its formulation, Liraglutide, which was filed through its European partner, Zentiva. Liraglutide is a drug-device combination formulation used in the treatment of Type 2 diabetes mellitus, a disorder in which the body does not produce enough or respond normally to insulin, causing blood sugar (glucose) levels to be abnormally high.
Zydus Lifesciences: The US Food and Drug Administration (US FDA) has inspected the SEZ Onco Injectable manufacturing plant in Ahmedabad. This cGMP USFDA inspection was conducted from March 18 to 27. The US health regulator closed the inspection with four observations. There were no data integrity-related observations.
NHPC: The company has received approval from the Board of Directors for raising debt to Rs 6,100 crore during FY25 through the issuance of non-convertible corporate bonds in one or more series or tranches on a private placement basis or the raising of term loans or external commercial borrowings (ECB). Further, the board has also given its in-principle approval for the closure of Loktak Downstream Hydroelectric Corporation, a joint venture with the Manipur Government, subject to the approval of DIPAM, the Ministry of Power, and the Manipur Government.
Cyient: The engineering and technology solutions company has signed a strategic partnership with Deutsche Aircraft, a German original equipment manufacturer. The companies will collaborate on the detailed design for manufacturing (DFM) of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft.