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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 42 points or 0.17 percent. The Nifty futures were trading around the 25,005.50 level.
Wall Street’s three main indexes scored record high closes on Tuesday, while UnitedHealth rallied, and a downward payrolls revision supported expectations that the Federal Reserve will soon cut interest rates to shore up economic growth.
The S&P 500 climbed 0.27% to end the session at 6,512.61 points, surpassing its record last Thursday.
The Nasdaq gained 0.37% to 21,879.49 points, its second consecutive record high close. The Dow Jones Industrial Average rose 0.43% to 45,711.34 points, exceeding its previous record close on August 28.
Asian stocks advanced on Wednesday as technology shares powered gains and on hopes the Federal Reserve will cut interest rates to curb a jobs downturn.
Japan’s Nikkei, Hong Kong’s Hang Seng the Taiwanese weighted index went up 0.33, 0.95, and 1.10 percent, respectively.
STOCKS TODAY
Kotak Mahindra Bank
Sumitomo Mitsui Banking Corporation is likely to exit the bank by selling its entire 1.65% stake via block deals, with an offer size of Rs 6,166 crore and a floor price of Rs 1,880 per share, reports CNBC-Awaaz, quoting sources.
Tata Motors
Tata Motors has executed the Share Subscription and Shareholders’ Agreement with Tata Power Renewable Energy to acquire a 26% equity stake in TP Paarthav and TP Marigold. Both are special-purpose vehicles (SPVs) and subsidiaries of Tata Power Renewable Energy.
Bajaj Auto
The two- and three-wheeler maker has decided to fully pass on the benefit of the recent GST reduction to customers across its relevant Bajaj and KTM motorcycles and three-wheeler range, effective September 22. It also announced a price reduction of up to Rs 20,000 on two-wheelers and up to Rs 24,000 on the three-wheeler range.
Sterling and Wilson Renewable Energy
The company has received a Letter of Intent (LOI) from a leading private Independent Power Producer (IPP) for a BOS EPC package for the development of a 300 MW AC / 420 MWp DC solar PV project, along with a 220/33 kV pooling substation in Rajasthan. The total value of the contract is Rs 415 crore, including operation and maintenance.
Samvardhana Motherson International
The company’s indirect subsidiary, Motherson SAS Turkey Otomotiv Servis Ticaret (MSAS Turkey), has completed the acquisition of the remaining 25% stake in SMR Plast Met Molds and Tools Turkey Kalip Imalat Anonim Sirketi, and SMR Plast Met Automotive Tec Turkey Plastik Imalat Anonim Sirketi.
Thermax
The company has invested Rs 115 crore in its subsidiary First Energy (FEPL) for further investment in First Energy (FE10), a wholly owned subsidiary of FEPL. Both FEPL and FE10 have completed the allotment of equity shares against the said investment.
Source – Moneycontrol