PRE MARKET
Gift Nifty indicates a negative opening for the broader index in India, with a loss of 76 points or 0.30 percent. The Nifty futures were trading around the 25,625.50 level.
The US markets were shut on Monday on account of Presidents’ Day holiday.
Asian stocks started subdued, with holiday-thinned trading keeping volumes light as investors await a fresh round of economic data later this week for direction.
Japan’s Nikkei and the Topix index went down -0.19 and -0.38 percent, respectively.
STOCKS IN NEWS
Reliance Industries
The company’s FMCG subsidiary, Reliance Consumer Products, has signed a definitive agreement to form a majority-owned joint venture with Tropical General Investments (TGI) Group, a leading Nigerian business conglomerate. This partnership will significantly expand Reliance Consumer Products’ global footprint by establishing a strong presence in one of Africa’s largest consumer markets.
JSW Infrastructure
The company’s board will meet on February 20 to consider a proposal to raise funds through the issuance of equity shares via a qualified institutional placement (QIP), rights issue, or any other permissible method, or a combination thereof.
Cochin Shipyard
Cochin Shipyard has been declared the L1 bidder by the Ministry of Defence for the construction of five Next Generation Survey Vessels (NGSV) for the Indian Navy. The estimated total order value is around Rs 5,000 crore.
Lupin
The pharmaceutical company has signed a licence and supply agreement with Spektus Pharma, a specialty pharmaceutical company, to commercialise the novel antidepressant DeslaFlex in Canada. DeslaFlex is an innovative antidepressant formulation developed by Spektus using its proprietary Flexitab oral drug-delivery platform.
Highway Infrastructure
The company has received a Letter of Acceptance (LoA) worth Rs 154.6 crore for operations at the Moti Naroli fee plaza in Gujarat. The Letter of Award (LoA) was issued by the National Highways Authority of India (NHAI).
Source – Moneycontrol
