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PRE MARKET
Gift Nifty indicates a flat to negative start for the broader index in India, with a loss of 22.5 points or 0.09 percent. The Nifty futures were trading around the 24,675 level.
The S&P 500 notched a record high close on Wednesday ahead of quarterly results from Nvidia, Wall Street’s most closely watched event this week, which will test the rally that has pushed valuations of AI-related companies to levels that some investors view as too high.
The S&P 500 climbed 0.24% to end the session at 6,481.40 points, exceeding its previous record high close on August 14. The Nasdaq gained 0.21% to 21,590.14 points, while the Dow Jones Industrial Average rose 0.32% to 45,565.23 points.
Asian stocks wobbled on Thursday as blowout earnings from artificial intelligence bellwether Nvidia were offset by worries over the outlook for its China business, while the dollar remained shaky as investors bet on a near-term rate cut.
Japan’s Nikkei went up 0.47 percent, while Hong Kong’s Hang Seng and the Taiwanese weighted index opened negative with 0.89 and 0.25 percent down, respectively.
STOCKS TODAY
InterGlobe Aviation
The Rakesh Gangwal family is likely to sell up to a 3.1% stake in IndiGo via block deals, with the offer size at Rs 7,027 crore and a floor price of Rs 5,808 per share.
SMS Pharmaceuticals
The company has received the Establishment Inspection Report (EIR) with a No Action Indicated status for its Central Laboratory Analytical Services in Hyderabad. The US FDA had conducted the inspection of the said laboratory during June 23–25 and concluded it with zero Form 483 observations.
Dr Reddy’s Laboratories
The Telangana High Court has granted an interim stay on the impugned order and the income tax reassessment proceedings related to the merger of Dr Reddy’s Holding into the company, until the next date of hearing.
Lemon Tree Hotels
The company has signed a license agreement for a hotel property: Lemon Tree Resort in Pench, Maharashtra. The property will be managed by its subsidiary, Carnation Hotels.
HFCL
The company’s subsidiary, HTL, has received a contract worth Rs 101.82 crore from the Indian Army for the supply of tactical optical fiber cables and related accessories.
Rail Vikas Nigam
The company has signed a joint venture agreement with Texmaco Rail & Engineering to undertake projects in the railway and allied infrastructure sectors. The proposed shareholding will be 51% for RVNL and 49% for Texmaco Rail.
Source – Moneycontrol