PRE MARKET
Gift Nifty indicates a flat to negative start for the broader index in India, with a loss of 62 points or 0.25 percent. The Nifty futures were trading around the 24,303 level.
US stocks lost steam on Tuesday, with the S&P 500 giving up early gains to skid into negative territory as investors weighed fading hopes for an earlier-than-expected end to the U.S.-Israeli war on Iran against a backdrop of renewed military threats and ongoing worries of economic stagflation.
The Dow Jones Industrial Average fell 34.29 points, or 0.07%, to 47,706.51, the S&P 500 lost 14.51 points, or 0.21%, to 6,781.48 and the Nasdaq Composite gained 1.16 points, or 0.01%, to 22,697.10.
Asian markets rose as risk sentiment got a lift from a Wall Street Journal report that said the International Energy Agency has proposed the largest release of crude oil reserves in its history.
Japan’s Nikkei 225 jumped 2%, while South Korea’s Kospi rose 3.2%. The Hong Kong Hang Seng index up 0.24%, and the Taiwan Weighted rose 2.6%.
STOCKS IN NEWS
Infosys
The digital services and consulting company has announced a new strategic collaboration with Incora to advance the use of artificial intelligence across Incora’s global supply chain operations. Through the multi-year alliance, Incora, a leading provider of supply chain solutions in the aerospace and defence industry, will work closely with Infosys to implement AI-enabled capabilities supporting operations across more than 60 countries.
Waaree Energies
The company’s subsidiary Waaree Solar Americas Inc has entered into a Share Subscription Agreement with United Solar Holdings Inc for the subscription of approximately 53,68,551 Series B preferred shares of USH for $30 million.
Central Bank of India
The bank has renewed its co-lending partnership with Capri Global Capital to offer loans at competitive rates. The participation of both entities in this arrangement will lead to greater portfolio expansion for Central Bank of India and Capri Global Capital.
Hindustan Zinc
The company has signed a Memorandum of Understanding (MoU) with CMR Green Technologies, India’s leading non-ferrous recycling company, to establish a zinc alloy manufacturing facility at Zinc Park. This is the second major partnership for Zinc Park, following Hindustan Zinc’s earlier MoU with Tripura Group.
Adani Enterprises
The company’s subsidiary Adani Road Transport has completed the acquisition of the remaining 49% equity shares of D P Jain TOT Toll Roads, along with 100% optionally convertible redeemable preference shares. With this acquisition, DPJ TOT has become a wholly owned subsidiary of Adani Road Transport.
Source – Moneycontrol
