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PRE MARKET
Gift Nifty indicates a negative start for the broader index in India, with a loss of 825 points or 0.32 percent. The Nifty futures were trading around the 25,958.50 level.
Wall Street’s main indexes closed lower on Monday, with most S&P 500 industry sectors in the red, while Treasury yields gained as investors waited nervously for the Federal Reserve’s monetary policy update due in two days.
The Dow Jones Industrial Average fell -215.67 points, or 0.45%, to 47,739.32, the S&P 500 lost -23.89 points, or 0.35%, to 6,846.51, and the Nasdaq Composite lost -32.22 points, or 0.14%, to 23,545.90.
Asian shares were slightly down on Tuesday as traders grew anxious about the pace of easing by the Federal Reserve beyond this week’s near-certain rate cut.
Japan’s Nikkei went up +0.12 percent, while Hong Kong’s Hang Seng and the Taiwanese weighted index went down -0.83 and -0.42 percent, respectively.
STOCKS TODAY
Larsen & Toubro
The Board of Directors of the company has approved the transfer of its realty business undertaking to its subsidiary, L&T Realty Properties, through a slump sale via a Scheme of Arrangement, subject to requisite regulatory approvals.
Siemens
The Board of Directors has approved the sale of its Low Voltage Motors and Geared Motors businesses, including the related customer service operations, as a going concern on a slump-sale basis to Innomotics India for an enterprise value of Rs 2,200 crore, on a cash-free, debt-free basis.
InterGlobe Aviation (IndiGo)
Moody’s said the widespread flight disruptions at IndiGo are credit negative, warning of potential revenue loss, refund outgo, and regulatory penalties after the airline failed to plan for aviation rules communicated to the industry more than a year in advance. The rating agency further said cancelled flights, refunds, and compensation to affected passengers could cause “significant financial damage,” with penalties from the DGCA also remaining a possibility.
Welspun Corp
Associate company East Pipes Integrated Company for Industry (EPIC), a listed entity in the Kingdom of Saudi Arabia (KSA), has received a contract from the Saudi Water Authority for the manufacturing and supply of steel pipes, with a total value exceeding 485 million SAR (Rs 1,165 crore). The duration of the contract is six months, and the financial impact will be reflected in Q4FY26 and Q1FY27.
VTM
The company has signed an MoU with the Government of Tamil Nadu to invest Rs 50 crore over a span of two years for the manufacture of cotton grey fabric and home textile products in Madurai and Virudhunagar districts.
Source – Moneycontrol