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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open lower on Thursday following weakness in global markets.
Gift Nifty was trading around 25,002 level, a discount of nearly 55 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market ended lower on Wednesday ahead of a quarterly earnings report from Nvidia. The Dow Jones Industrial Average declined 0.39% to 41,091.42, while the S&P 500 dropped 0.60% to end at 5,592.18 points. The Nasdaq closed 1.12% lower at 17,556.03.
Asian markets traded lower tracking overnight losses on Wall Street. Japan’s Nikkei 225 fell 0.56%, while the Topix declined 0.14%. South Korea’s Kospi dropped 1.3% and the Kosdaq fell 0.55%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Reliance Industries: Reliance Industries and The Walt Disney Company have received approval from the Competition Commission of India for the Rs 70,350 crore merger of their Indian media assets. Additionally, the 47th Annual General Meeting (post-IPO) of the company’s members will be held on August 29 at 2:00 PM (IST).
Macrotech Developers: The company has executed Share Purchase Agreements to acquire a 100% stake in Opexefi Services for Rs 46.7 crore and One Box Warehouse for Rs 49.09 crore. Post-acquisition, both will become Lodha’s subsidiaries.
One 97 Communications (Paytm): Subsidiary Paytm Payments Services (PPSL) has received approval from the Ministry of Finance for downstream investment from the company into PPSL. With this approval, PPSL will resubmit its application for a payment aggregator license. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners.
NLC India: The company has signed a Power Usage Agreement with Telangana state DISCOMs for 200 MW of solar power at a competitive and affordable price under the CPSU scheme for 25 years.
Wipro: The global IT services provider has announced the liquidation of Capco Consulting Services (Guangzhou), the step-down subsidiary based in China. In addition, the company has completed its subscription in the equity share capital of Huoban Energy 11.
GMM Pfaudler: Infinity Partners bought a 9.17% stake in GMM at an average price of Rs 1,352 per share, amounting to Rs 557.3 crore. However, foreign investors Atreides Investments BV sold 0.9% of shares, and Geranium Investments exited the company by selling their entire 8.25% stake at the same price.