PRE MARKET
Gift Nifty indicates a negative start for the broader indices in India, with a decline of 183.50 points or 1.24 percent. Nifty futures were trading around the 22,543.50 level.
US stocks tumbled on Friday, with each of the three major U.S. indexes closing at their lowest levels in over seven months and the Dow confirming it was in correction territory as the month-long Middle East war continued to suppress risk appetite.
Markets took little solace from U.S. President Donald Trump’s announcement that he gave Iran another 10 days to reopen the Strait of Hormuz or face the destruction of its energy plants, after Iran rejected his proposals to end the war that began with U.S.-Israeli air strikes on Iran.
The Dow Jones Industrial Average fell 793.47 points, or 1.73%, to 45,166.64, the S&P 500 lost 108.31 points, or 1.67%, to 6,368.85, and the Nasdaq Composite lost 459.72 points, or 2.15%, to 20,948.36.
Stock markets slumped in Asia on Monday as investors dug in for a protracted Gulf conflict that already has oil prices heading for a record monthly rise, bringing a spike in inflation and the risk of recession to much of the globe.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index slumped down -4.44, -1.61, and -1.85 percent, respectively.
STOCKS IN NEWS
GR Infraprojects
The company has emerged as the L1 bidder for an NHAI project worth Rs 1,453.57 crore in Gujarat. The project involves the upgradation of an existing two-lane carriageway to a four-lane carriageway. Additionally, the company has received a contract worth Rs 413.37 crore from NTPC for the implementation of Battery Energy Storage Systems (BESS) at the Mouda Super Thermal Power Station, including services, ex-works (India) supply, and comprehensive annual maintenance for the entire design life of the BESS system.
RailTel Corporation of India
The company has received a Letter of Intent (LoI) worth Rs 444.44 crore from the Centre for E-Governance. The order involves a request for proposal for the selection of a system integrator for KSWAN 3.0. Additionally, it has received a Letter of Acceptance (LoA) worth Rs 13.03 crore from the Mumbai Port Authority for SITC and O&M of a Hospital Management Information System (HMIS) for its hospital and dispensaries.
Deepak Builders and Engineers India
The company has emerged as the L1 bidder for a residential infrastructure project at the Panipat Refinery & Petrochemical Complex Township of Indian Oil Corporation (IOC) in Haryana. The total project value stands at Rs 474.25 crore. Upon formal award, its total order book is expected to scale up to approximately Rs 2,000 crore.
Coal India
The company has received a Letter of Award (LoA) from Telangana Power Generation Corporation for setting up a 750 MWh (187.5 MW for 4 hours) BESS plant at Choutuppal, at a tariff of Rs 3.14 lakh per MW per month. The project cost is Rs 1,057.09 crore. Additionally, the company has formed a 50:50 joint venture, DVC CIL Power Private Limited, with Damodar Valley Corporation.
CMS Info Systems
The company has announced the acquisition of the ATM managed services business of Financial Software and Systems (FSS) for Rs 115 crore. The transaction involves the transfer of operating assets and the novation of customer contracts, and is expected to close in Q1 FY27. Additionally, PPFAS Mutual Fund, through its schemes, acquired 1.5 lakh shares via an open market transaction on March 24, increasing its shareholding to 7.97 percent from 7.88 percent earlier.
Source – Moneycontrol
