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PRE MARKET
Gift Nifty indicates a flat to negative start for the broader index in India, with a loss of 34.50 points or 0.13 percent. The Nifty futures were trading around the 25,931.50 level.
Wall Street’s main indexes ended lower on Monday, kicking off the final week of the year on a softer note, as heavyweight technology stocks retreated from last week’s gains that had pushed the S&P 500 to record highs.
The S&P 500 lost 24.20 points, or 0.35%, to 6,905.74, and the Nasdaq Composite lost 118.75 points, or 0.50%, to 23,474.35. The Dow Jones Industrial Average fell 249.04 points, or 0.51%, to 48,461.93.
A rally in Asian stocks paused after a seven-day run, tracking technology-led declines on Wall Street.
Japan’s Nikkei and the Taiwanese weighted went down -0.15 and -0.46 percent, while Hong Kong’s Hang Seng went up 0.46 percent.
STOCKS TODAY
LUPIN
The pharma company has entered into an exclusive License, Supply, and Distribution Agreement with Gan & Lee Pharmaceuticals, headquartered in China, for a novel fortnightly GLP-1 receptor agonist, Bofanglutide. Bofanglutide injection is used for the treatment of type 2 diabetes and for aiding weight management in overweight or obese individuals.
Bharat Electronics
The company has received additional orders worth Rs 569 crore since December 12. These include orders for radars, tank overhauls, communication equipment, fire control systems, simulators, antenna stabilisation systems, security software, components, upgrades, and spares.
Grasim Industries
The Board has approved a Composite Scheme of Arrangement among Aditya Birla Renewables, Essel Mining & Industries, Electrotherm Renewables, ABREL EPCCO Services, ABREL Renewables EPC, ABREL EPC, and their respective shareholders and creditors.
Timex Group India
Promoter Timex Group Luxury Watches B.V., Netherlands, has decided to exercise the oversubscription option to the extent of 45.09 lakh equity shares (4.47% stake) in the offer-for-sale on December 30, in addition to the base offer size of a 4.47% stake.
Afcons Infrastructure
The company has achieved the first tunnel breakthrough in the City and Industrial Development Corporation’s (CIDCO) augmentation of the Hetawane Water Supply Scheme at Shaft-4 in Wahal village, Navi Mumbai. The company stated that it would complete the project six months ahead of schedule. CIDCO has undertaken this project to meet the growing water demand in Navi Mumbai’s developing regions.
Cupid
The company has received in-principle approval from its Board of Directors to set up a new FMCG manufacturing facility in the Kingdom of Saudi Arabia (KSA). This will be the company’s first manufacturing plant outside India, supporting its FMCG growth strategy and strengthening its presence in overseas markets, beginning with the Gulf Cooperation Council (GCC) region.
Source – Moneycontrol