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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 46 points or 0.8 percent. The Nifty futures were trading around the 25,294.50 level.
US stocks advanced on Wednesday, and Treasury yields reversed their three-day slide after word of a trade deal between the United States and Japan. A report of a similar agreement with the European Union provided welcome signs of progress in President Donald Trump’s multi-front tariff negotiations.
The Dow Jones Industrial Average rose 507.85 points, or 1.14%, to 45,010.29, the S&P 500 rose 49.35 points, or 0.78%, to 6,358.97, and the Nasdaq Composite rose 127.33 points, or 0.61%, to 21,020.02.
Asian equities posted their longest winning streak since January as signsthat the US may pursue further trade deals following its pact with Japan injected fresh momentum into stock markets.
Most Asian stocks opened green with Japan’s Nikkei, Hong Kong’s Hang Seng, KOSPI Index, and the Taiwanese weighted index up by 1.93, 0.15, 0.8,9 and 0.08 percent.
STOCKS TODAY
Natco Pharma
The Board has approved the acquisition of a 35.75% stake in Adcock Ingram Holdings, South Africa, with a total investment cost of Rs 2,000 crore. Further, the company will incorporate its wholly-owned subsidiary in South Africa, with an investment of up to Rs 2,100 crore, under the name Natco Pharma South Africa Proprietary Limited.
Reliance Industries
Welspun Corp has further sold a 9.9% equity stake in Nauyaan Shipyard to Nauyaan Tradings (a wholly-owned subsidiary of Reliance Strategic Business Ventures) for Rs 54.70 crore. The company will now hold the remaining 6.1% equity stake in Nauyaan Shipyard, while Nauyaan Tradings’ holding in Nauyaan Shipyard has increased to 93.9% from 84% earlier.
Inox Wind
The Board has approved the issuance of 10.41 crore equity shares worth Rs 1,249.33 crore on a rights basis. The rights issue price has been fixed at Rs 120 per share, and the record date has been set as July 29 for determining the shareholders eligible to apply for equity shares in the rights issue.
IEX
Shares of Indian Energy Exchange Ltd (IEX) will be in focus in trade on Thursday, July 24, after reports suggested that the Central Regulatory Electricity Commission approved the implementation of power coupling with the Day Ahead Market (DAM).
Tilaknagar Industries
The company has entered into a definitive agreement to acquire the Imperial Blue business division from Pernod Ricard India via a slump sale for Rs 4,150 crore.
Source – Moneycontrol