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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 116 points or 0.47 percent. The Nifty futures were trading aroundthe 24,519.50 level.
The U.S. economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2%. The data helped to assuage concerns of an economic slowdown following a Commerce Department report, showing a contraction in U.S. gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports.
The Dow Jones Industrial Average rose 564.47 points, or 1.39%, to 41,317.43, the S&P 500 gained 82.54 points, or 1.47%, to 5,686.68, and the Nasdaq Composite gained 266.99 points, or 1.51%, to 17,977.73.
Asian stocks had a muted open amid holidays in some of the biggest markets.
Singapore’s Straits Times was down by a mere 0.05 percent, and the Taiwanese index was down by over 1.7 percent.
STOCKS TODAY
Azad Engineering
The company has signed a long-term supply agreement with GE Steam Power GMBH, acting through its GE Vernova Power business based in Baden, Switzerland, for the manufacture and supply of highly engineered and complex rotating and stationary airfoils for advanced nuclear, industrial, and thermal power industries. This contract phase is valued at $53.5 million (Rs 452.48 crore).
IRCON International
The company has received a work order worth Rs 458.14 crore from North Eastern Electric Power Corporation. The order involves the construction of civil works on an item-rate basis for the Tato-I Hydro Electric Project in Arunachal Pradesh.
Shilpa Medicare
The company’s biologics subsidiary, Shilpa Biologics, has received European GMP certification for its Dharwad plant in Karnataka for manufacturing test batches, based on a recent inspection. The inspection was conducted between February 18–20 by the competent authority of Austria.
Concord Biotech
The US Food and Drug Administration has issued Form 483 with four observations for the company’s API facility in Dholka. The US health regulator inspected the facility between April 28 and May 2. These observations are procedural and none are related to data integrity.
AU Small Finance Bank
True North, Indium IV (Mauritius), and Silver Leaf Oak are likely to sell 92.3 lakh shares (1.24% equity) in the bank via block deals, reports CNBC-TV18, quoting sources. The floor price is set at Rs 650 per share.
Source – Moneycontrol
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