PRE MARKET
GIFT Nifty was trading at 23,426 in early morning trade, down 139 points or 0.6 percent, indicating a negative opening for benchmark indices on Wednesday.
Wall Street indices ended lower overnight, with the Nasdaq falling -227.96 points or 0.87 percent and the Dow Jones declining -127.87 points amid rising US Treasury yields, elevated crude oil prices and concerns that persistent inflation could delay Fed rate cuts.
Asian markets fell for a fourth straight session on Wednesday amid concerns over war-driven inflation and elevated borrowing costs.
Japan’s Nikkei declined -1.81 percent, South Korea’s Kospi dropped 2 percent, while Hong Kong’s Hang Seng fell around -1.81 percent.
STOCKS IN NEWS
JSW Energy
The company has executed definitive agreements to acquire an additional equity stake in Toshiba JSW Power Systems (TJPS) through a secondary purchase of equity shares from Toshiba Corporation, Japan.
Post-acquisition, the company’s shareholding in TJPS will increase to 20.7 percent on a non-diluted basis and 10.7 percent on a fully diluted basis. The total purchase consideration for the acquired shares is Rs 150 crore.
Sun Pharma Advanced Research Company
The company’s licensing partner, Ocuvex Therapeutics Inc., has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) for the PDP-716 New Drug Application (NDA).
The CRL was issued due to inspection-related findings at the finished product manufacturing facility. The FDA did not raise any other issues regarding the PDP-716 NDA.
Aditya Birla Capital
The company has received a Certificate of Registration from the Reserve Bank of India (RBI) to commence the business of factoring.
Sula Vineyards
Abhishek Kapoor has resigned from the position of Chief Financial Officer and Key Managerial Personnel of the company, effective July 14.
The Board has appointed Rinku More as the Chief Financial Officer Designate and Senior Management Personnel, effective July 15.
Source: Moneycontrol, Mint