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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 110 points or 0.45 percent. The Nifty futures were trading around the 24,793.50 level
Gains in Wall Street indexes on Friday were not enough to erase a loss for the week, while resilient consumer spending supported longer-dated Treasury yields, and gold rose as a steady inflation reading supported bets on future Federal Reserve rate cuts.
The Dow Jones Industrial Average gained 119.62 points, or 0.26%, to 46,366.91, the S&P 500 lost 38.98 points, or 0.59%, to 6,643.70 and the Nasdaq Composite lost 99.37 points, or 0.44%, to 22,484.07.
Japan’s Nikkei went down 0.44 percent, while Hong Kong’s Hang Seng and the KOSPI Index went up 1.48 percent and 1.24 percent ,respectively.
STOCKS TODAY
Azad Engineering
The company has signed a new Long-Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries, Japan, valued at Rs 651 crore, for the supply of highly engineered and complex rotating and stationary airfoils for advanced gas and thermal power turbine engines to meet their global demand in the power generation industry.
PG Electroplast
The company, through its subsidiary PG Technoplast, has acquired a 50-acre land parcel in Sri City, Andhra Pradesh. It plans to invest around Rs 1,000 crore in developing a manufacturing campus over the next five years.
Alkem Laboratories
The pharma company has entered into a Business Transfer Agreement with Alkem Wellness, effective October 1. It will transfer the trade generics business as a going concern, on a slump sale basis, to its subsidiary, Alkem Wellness.
Shriram Finance
The company has made a further investment of Rs 300 crore in its subsidiary, Shriram Overseas, by subscribing to 1,90,25,000 equity shares through a rights issue, to strengthen its capital base.
Lemon Tree Hotels
Shareholders have appointed Neelendra Singh as Managing Director of the company, and Kapil Sharma as Executive Director and Chief Financial Officer, for a term of five years, effective October 1 this year. They also appointed Patanjali Govind Keswani as Executive Director and Chairman for 18 months, effective October 1.
BEML
The company has entered into a Tripartite Memorandum of Understanding (MoU) with Bharat Forge and Data Patterns (India). They will support the Advanced Medium Combat Aircraft (AMCA) programme and participate in the Expression of Interest (EoI) floated by the Aeronautical Development Agency (ADA).
Source – Moneycontrol