Gift Nifty indicates a flat to positive opening for the Indian stock indices; US markets ended mixed; Asian markets traded higher ahead of the economic data this week


The domestic equity market is expected to see a muted opening on Monday following mixed global market cues. Further, Gift Nifty is trading slightly above the previous close indicating a flat-to-positive start for the Indian stock market indices.

The US stock market ended mixed on Friday, while all three Wall Street benchmarks scored weekly gains led by artificial intelligence stocks.
The Dow Jones Industrial Average gained 62.42 points, or 0.16%, to close at 39,131.53, while the S&P 500 rose 1.77 points, or 0.03%, to end at 5,088.8. The Nasdaq Composite settled 44.80 points, or 0.28%, lower at 15,996.82.

Asian stocks traded mostly higher on Monday ahead of a slew of economic data this week including Chinese activity gauges and the Federal Reserve’s preferred measure of inflation.
Japan’s Nikkei 225 gained 0.5% and Topix rose 0.6%. South Korea’s Kospi fell 0.5%, while the Kospi added 0.2%. Hong Kong’s Hang Seng index futures were flat.


Biocon: The biopharmaceutical company has given a corporate guarantee of $20 million in favor of Mizuho Bank to secure a term loan facility of $20 million extended to the company’s step-down subsidiary Biocon Generics Inc. by the bank. The corporate guarantee is valid for 5 years.

JSW Infrastructure: The JSW Group company has received the letter of award from the VO Chidambaranar Port Authority for mechanization of the North Cargo Berth-III (NCB-III) for handling dry bulk cargo at the port on a design, build, finance, operate, and transfer (DBFOT) basis through the PPP route.

Kotak Mahindra Bank: The bank, Zurich and Kotak Mahindra General Insurance Company have mutually agreed that Zurich will acquire a 70% stake in Kotak General through a combination of primary and secondary acquisitions in a single tranche, for Rs 5,560 crore. As per an earlier disclosure made in November 2023, Zurich Insurance was supposed to make an initial acquisition of a 51% stake in Kotak General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional 19% stake in 3 years from the initial acquisition.

Aditya Birla Capital: The company has invested Rs 50 crore via a rights issue, in Aditya Birla Capital Digital (ABCDL). After this investment, there is no change in the percentage shareholding of Aditya Birla Capital and ABCDL continues to be a wholly owned subsidiary of the company.

RITES: The company has received a formal Letter of intent towards the appointment of a Projects Management consultant (PMC) for the infrastructure development of the permanent campus of IIT Bhubaneswar in Odisha, from IIT Bhubaneswar.

Ami Organics: Pune-based investment company Sageone Investment Advisors LLP has bought 2.5 lakh equity shares (equivalent to 0.68% of the paid-up equity) through open market transactions, at an average price of Rs 1,075 per share.

Skipper: The power transmission & distribution structures manufacturer has bagged a new order of Rs 737 crore for the design, supply, and construction of a new 765 kV transmission line project for Power Grid Corporation of India.

GE Power India: The company has received an order from Tata Power, for providing services towards overhaul and other works for the turbine generator. The base value of the project is Rs 6.75 crore.