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PRE MARKET
Gift Nifty indicates a negative start for the broader index in India, with a loss of 29 points or 0.11 percent. The Nifty futures were trading around the 25,902 level.
The Fed kicked off its two-day policy meeting on Tuesday with traders widely expecting a quarter-percentage point rate cut despite inflation still running above the central bank’s 2% target.
The Dow Jones Industrial Average fell 179.03 points, or -0.38%, to 47,560.29, the S&P 500 lost 6.00 points, or -0.09%, to 6,840.51, and the Nasdaq Composite gained 30.58 points, or +0.13%, to 23,576.49.
Asian stocks crept higher following a sluggish session on Wall Street as investors awaited clues on the Federal Reserve’s policy path in its final interest-rate decision of the year.
Japan’s Nikkei and Hong Kong’s Hang Seng went down -0.29 and -0.42 percent, while the Taiwanese weighted index went up +0.20 percent.
STOCKS TODAY
Swiggy
The food delivery giant opened its qualified institutions placement (QIP) on December 9, with a floor price of Rs 390.51 per share. The Board on November 7, and the shareholders at the Extraordinary General Meeting on December 8, approved the proposal to raise to Rs 10,000 crore via QIP.
Highway Infrastructure
The company received a Letter of Acceptance (LOA) worth Rs 328.8 crore for the operation of the Kaza Fee Plaza in Andhra Pradesh. The LOA was issued by the National Highways Authority of India (NHAI) on December 9.
Zydus Lifesciences
The company’s subsidiary, Zydus Lifesciences Global FZE (United Arab Emirates), has entered into a strategic partnership with Formycon AG for the exclusive licensing and supply of checkpoint inhibitor FYB206, a biosimilar of Keytruda (Pembrolizumab), for the USA and Canadian markets.
Godrej Industries
Godrej Agrovet’s subsidiary, Creamline Dairy Products, has signed a Memorandum of Understanding (MoU) with the Government of Telangana to invest Rs 150 crore in setting up a dairy processing facility across 40 acres. With this new investment, the Godrej Industries Group’s total investment plans in the state now stand at over Rs 10,000 crore across its various businesses.
Tata Power Company
The company announced the commissioning of the 400 kV Koteshwar–Rishikesh transmission line, which will enable the evacuation of 1,000 MW of hydropower from the Tehri–Koteshwar generation complex in Uttarakhand to multiple northern states and union territories.
Graphite India
The company has signed an Exclusive Distribution and Commercial Partnership Agreement with Kivoro to bring Kivoro’s next-generation graphene-based Heat Transfer Additive (HTA) technology to the Indian corrugated paperboard industry.
Source – Moneycontrol