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PRE MARKET
The Nifty indicates a negative start for the broader Indian index, with a loss of 91 points, or 0.36 percent. The Nifty futures were trading around the 24,997 level.
The S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks. At the same time, Tesla slumped after the electric vehicle maker’s results failed to meet investor expectations.
The S&P 500 crept up 0.07% to end the session at 6,363.35 points. The Nasdaq gained 0.18% to 21,057.96 points, while the Dow Jones Industrial Average declined 0.70% to 44,693.91 points.
Asian stocks declined at the open Friday, breaking their longest winning streak since January, as uncertainty over interest-rate cuts by the Federal Reserve curbed risk appetite.
Japan’s Nikkei and Hong Kong’s Hang Seng went down 0.59 and 0.66 percent, respectively, while the KOSPI Index and the Taiwanese weighted index went up by 0.11 and 0.16 percent, respectively.
STOCKS TODAY
Sun Pharmaceutical Industries
Sun Pharma has signed a settlement agreement with the End Purchaser Plaintiffs in the generic pharmaceuticals pricing antitrust litigation in the US. Under the terms of the settlement agreement, the company’s subsidiaries will make an aggregate payment of $200 million in exchange for a full release of all claims asserted against them by the settlement class members in the End Purchaser Action.
Enviro Infra Engineers
The company has received an order worth Rs 221.3 crore for the EPC of sewage treatment plants, including the reuse of treated wastewater, from the Bangalore Water Supply and Sewerage Board.
GR Infraprojects
The company has emerged as the L-1 bidder for an EPC project involving the construction of the Giridih Bypass (towards Tundi) road in Jharkhand. The contract is valued at Rs 290.23 crore.
Adani Enterprises
Adani Enterprises is divesting a 50% stake in its subsidiary, Kutch Copper Tubes, to MetTube Mauritius. Concurrently, the company will acquire a 50% stake in MetTube Copper India, a wholly owned subsidiary of MetTube. This alliance is aimed at delivering solutions to the heating, ventilation, and air conditioning (HVAC) industry and at reducing India’s dependence on imported copper tubes.
Source – Moneycontrol