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PRE-MARKET REPORT
The domestic equity indices are expected to open on a cautious note on Thursday after a heavy selloff in the previous session and tracking mixed global market cues. Further, Gift Nifty was also trading below the previous close, indicating a negative start for the Indian stock market indices.
The US stock market indices ended mixed on Wednesday amid profit booking in chipmaker stocks. The Dow Jones Industrial Average gained 37.83 points, or 0.1%, to 39,043.32, while the S&P 500 fell 9.96 points, or 0.19%, to 5,165.31. The Nasdaq Composite ended 87.87 points, or 0.54%, lower at 16,177.77.
Asian markets traded cautiously on Thursday following a mixed action on Wall Street overnight. Japan’s Nikkei 225 fell 0.45% and the Topix declined 0.21%. South Korea’s Kospi gained 0.22%, while the Kosdaq index was marginally higher. Hong Kong’s Hang Seng index futures indicated a stronger opening.
STOCKS TODAY
Tata Motors: The commercial and passenger vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up a vehicle manufacturing facility in the state. The MoU envisages an investment of around Rs 9,000 crore over 5 years and can potentially create up to 5,000 jobs.
IIFL Finance: The company has received approval from the board of directors for fundraising up to Rs 1,500 crore through the issue of equity shares on a right basis to its existing eligible shareholders and Rs 500 crore through the issue of non-convertible debentures on a private placement basis.
Power Mech Projects: The company has incorporated a new wholly-owned subsidiary namely PMTS Private Limited. Subsidiary will design & develop technologies, which are required for construction companies and companies in other sectors/ industries including implementation of the ERP & monitoring systems.
Adani Green Energy: Subsidiary Adani Renewable Energy Fifty Nine Limited has entered into power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) for the supply of 534 MW of solar power projects. With the execution of these PPAs, Adani Green Energy now has a total renewable energy project portfolio of 21,778 MWac capacity.
DLF: DLF Home Developers (DHDL), a wholly-owned material subsidiary, has received approval from the board of directors for raising funds through the issuance of non-convertible debentures (NCDs) worth up to Rs 600 crore on a private placement basis, to eligible investors.
Zydus Lifesciences: Zydus has launched Olaparib, a PARP inhibitor, under the brand name IBYRA in India. The drug will target specific genetic mutations prevalent in certain types of cancers, paving the way for a more tailored and effective treatment approach.
PC Jeweller: The State Bank of India (SBI) has accepted the ‘one-time settlement’ proposal submitted by the jewelry company. The company had opted for a one-time settlement to settle the outstanding dues. The terms of the approved one-time settlement include cash and equity components, the release of securities and mortgaged properties, etc.