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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open flat on Tuesday tracking mixed global market cues.
Gift Nifty was trading around 24,630 level, a premium of nearly 8 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
The US stock market ended higher on Monday, with the Dow Jones Industrial Average notching an all-time closing high, amid increasing expectations of a second Donald Trump presidency.
The Dow Jones Industrial Average rallied 210.82 points, or 0.53%, to 40,211.72, while the S&P 500 rose 15.87 points, or 0.28%, to 5,631.22. The Nasdaq Composite closed 74.12 points, or 0.40%, higher at 18,472.57.
Asian markets traded mixed on Tuesday. Japan’s Nikkei 225 rose 0.75% and the Topix gained 0.88%. South Korea’s Kospi was marginally higher, while the Kosdaq declined 1.4%. Hong Kong’s Hang Seng index futures indicated a lower opening
STOCKS TODAY
Unichem Laboratories: The United States Food and Drug Administration (USFDA) inspected the company’s Goa formulation facility from July 8 to 15. The inspection concluded with five observations, primarily concerning procedural changes.
Lupin: The pharma major has divested its US Commercial Women’s Health Specialty business to Evofem Biosciences Inc., a US biopharmaceutical company focused exclusively on women’s health. Lupin stands to receive up to $84 million from this divestment, which includes commercializing SOLOSEC (secnidazole) 2g oral granules.
Hindustan Unilever: The company’s board has approved the sale and divestment of its water purification business, operating under the brand Pureit, to A O Smith India Water Products for $72 million (Rs 601 crore), on a slump sale basis.
Ujaas Energy: The board has approved a bonus issue in the ratio of 1:4 (one bonus share for every four shares held) and the appointment of Anurag Mundra as a whole-time director for a term of 5 years, subject to shareholder approval.
Zen Technologies: The company launched new IP-owned defense products for global security in collaboration with its subsidiary, AI Turing Technologies. These products include Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta, and Sthir Stab 640.
Jupiter Wagons: Shares of Jupiter Wagons gained over 5 percent yesterday after the company said it raised Rs 800 crore through a qualified institutional placement (QIP). The floor price for QIP was fixed at Rs 689.47 and the company issued and allotted 12.2 million equity shares at Rs 655.5 per share.