PRE MARKET
Gift Nifty indicate a positive start for the broader index in India, with a gain of 64 points or 0.27 percent. The Nifty futures were trading around the 23,646 level.
Wall Street ended higher on Tuesday, with gains in Delta Air Lines and other travel stocks, while the Federal Reserve began its two-day policy meeting amid investors’ worries about high oil prices and the Middle East conflict.
The S&P 500 climbed 0.25% to end the session at 6,716.09 points. The Nasdaq gained 0.47% to 22,479.53 points, while the Dow Jones Industrial Average rose 0.10% to 46,993.26 points.
Asian equities rose while oil edged lower, suggesting investors are trying to look past near-term geopolitical uncertainty and find a measure of stability in markets.
Japan’s Nikkei, and the Taiwanese weighted index edged up 2.25 and 1.54 percent.
STOCKS IN NEWS
Varun Beverages
The company’s subsidiary, The Beverage Company Proprietary, has executed an agreement to acquire a 100% equity stake in Crickley Dairy Proprietary, South Africa, for Rs 131.4 crore. The acquisition aims to diversify its product portfolio into new categories, including value-added dairy and juice-based drinks.
Strides Pharma Science
The company, through its step-down subsidiary Strides Pharma International AG (SPIAG), has entered into definitive agreements with Sandoz AG, Switzerland, and its group entities for the acquisition and in-licensing of a portfolio of branded generic products across sub-Saharan Africa (SSA). As part of the deal, the portfolio includes multiple brands across anti-infective, cardiovascular, and dermatology therapeutic segments.
CESC
The company has issued four Letters of Award to the following entities—Purvah Green Power (its subsidiary), Vismaya Renewables India Projects, Hexa Climate Solutions, and Sprng Energy, for setting up wind-solar hybrid power projects.
Mafatlal Industries
The company has secured a five-year order worth Rs 114 crore from the Odisha Computer Application Centre (OCAC) for setting up 500 robotic laboratories across 16 districts in Odisha under the School and Mass Education Department.
Tech Mahindra
The company’s subsidiary, Tech Mahindra London, has executed a Share Sale and Purchase Agreement with Midad Company to acquire Midad’s 20% equity stake in Tech Mahindra Arabia, a subsidiary of the company, following the exercise of a put option by Midad, for Rs 206.2 crore. Post this transaction, Tech Mahindra Arabia will become a wholly owned subsidiary.
Source – Moneycontrol
