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PRE-MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to open on a muted note Wednesday tracking mixed cues from global peers.
Gift Nifty also was trading around the 22,050 level, which is lower than the previous close, indicating a negative start for the Indian stock indices.
US stock market indices ended lower on Tuesday, with the Dow and S&P 500 falling for the third straight session.
The Dow Jones Industrial Average declined 31.31 points, or 0.08%, to 39,282.33, while the S&P 500 fell 14.61 points, or 0.28%, to 5,203.58. The Nasdaq Composite ended 68.77 points, or 0.42%, lower at 16,315.70.
Asian markets traded mostly higher on Wednesday. Japan’s Nikkei 225 rose 0.24%, while the Topix gained 0.4%. South Korea’s Kospi eased 0.1%, while the Kosdaq was flat. Hong Kong’s Hang Seng index futures indicated a weaker opening.
STOCKS TODAY
Aster DM Healthcare: Private equity firm Olympus Capital Asia Investments is likely to sell up to 9.8% equity stake in the private healthcare services provider through a block deal, multiple industry sources in the know told Moneycontrol. The block deal size is around $235 million and the floor price has been fixed at Rs 400 per share. Olympus Capital Asia Investments held an 18.96% stake in Aster DM as of December 2023.
Mankind Pharma: Investment company Beige has sold 58,17,874 equity shares in the pharma company at an average price of Rs 2,124.71 per share, 58,17,873 shares at an average price of Rs 2,120.31 via open market transactions. In total, it sold a 2.9% equity stake worth Rs 2,469.7 crore in the company, against its shareholding of 2.99% as of December 2023.
Cipla: Sanofi India and Sanofi Healthcare India have announced an exclusive partnership with Cipla for the distribution and promotion of Sanofi India’s 6 central nervous system (CNS) products in India including Frisium, a leading brand in the anti-epileptic medication category. Meanwhile, Cipla has received approval from the US regulator to merge Cipla Technologies LLC into Cipla USA Inc., with effect from March 31, 2024.
Shyam Metalics and Energy: Shyam Metalics in a joint venture with Natural Resources Energy (NREPL) has received a Letter of Intent from the Industry, Energy, Labour, and Mining Department, Government of Maharashtra, for a composite license for iron ore block with an area of 1,526 hectares in Maharashtra. Dorite Tracon, a promoter company of Shyam Metalics, holds 49% shares in NREPL.
Titan Company: The company has completed the liquidation of its subsidiary TCL Watches Switzerland AG (earlier known as Favre Leuba AG, (FLAG). With this, TCL Watches Switzerland AG ceased to be a wholly-owned subsidiary of the company with effect from March 21, 2024.
Adani Power: The Competition Commission of India (CCI) has approved the 100% acquisition of Lanco Amarkantak Power by Adani Power. Lanco Amarkantak Power, a part of the Lanco Group and thermal power generation company, is currently undergoing a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC).
Indian Hotels Company: The company has infused $6.5 million in its wholly-owned subsidiary IHOCO BV in the Netherlands. The subsidiary will be used for repaying debt and other operational purposes of its subsidiary United Overseas Holding Inc. in the USA.