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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 140 points or 0.54 percent. The Nifty futures were trading around the 25,975 level.
Wall Street ended higher on Wednesday, after the Federal Reserve cut interest rates by a quarter percentage point as expected and investors bet on further easing down the road even as the central bank signaled that it will put further cuts on pause for now.
The S&P 500 closed up 46.17 points, or +0.67%, at 6,886.68, eyeing a return to its October 28 record closing high but ultimately falling short at the end of trading. The Dow Jones Industrial Average rose 497.46 points, or +1.05%, to 48,057.75 while the Nasdaq Composite gained 77.67 points, or +0.33%, to 23,654.16.
Asian equities echoed gains on Wall Street after the Federal Reserve cut interest rates and Chair Jerome Powell voiced optimism that the US economy will strengthen as the inflationary impact from tariffs fades away.
Japan’s Nikkei and the Taiwanese weighted indices went down -0.44 and -0.19 percent, while the Taiwanese weighted index went up +0.49 percent.
STOCKS TODAY
Ashoka Buildcon
Adani-Ashoka-Aakshaya (a joint venture in which Adani Road Transport Limited holds 51% as lead member, Ashoka Buildcon holds 26%, and Aakshaya Infra Projects holds 23%) has received a Letter of Acceptance for the Mithi River Development and Pollution Control Project worth Rs 1,815.79 crore from the BMC.
Puravankara
The company’s subsidiary, Starworth Infrastructure & Construction, has received a Letter of Acceptance worth Rs 509.52 crore for turnkey civil construction, finishes, MEP, and external development for Varnam Phase 1 at the One Bangalore Luxury Project (OBLP) in Bengaluru Rural District, Karnataka.
Petronet LNG
The company has signed a loan agreement to borrow secured rupee term loans of Rs 6,000 crore each, aggregating to Rs 12,000 crore, from the consortium of State Bank of India (SBI) and Bank of Baroda. The loan will be utilised for financing the petrochemicals project comprising 750 KTPA of Propane Dehydrogenation (PDH) and 500 KTPA of Polypropylene (PP), including propane and ethane handling facilities at Dahej, Gujarat.
Life Insurance Corporation of India
The Corporation has received a notice from the Deputy Commissioner of State Tax, Mumbai, demanding GST of Rs 2,370.34 crore, including interest and penalty, for financial years 2021–22 to 2023–24. The financial impact corresponds to the GST, interest, and penalty demanded.
Prestige Estates Projects
The company’s subsidiaries, Prestige Falcon Realty and Prestige Projects, have acquired partnership interest in Bharatnagar Buildcon LLP for Rs 938.75 crore. With this acquisition, the company now indirectly holds 66.93% partnership interest in Bharatnagar Buildcon LLP.
Mazagon Dock Shipbuilders
The Brazilian Navy and the Indian Navy, in association with Mazagon Dock Shipbuilders, have entered into an MoU for the exchange of information related to the maintenance of Scorpène-class submarines and other military ships.
Source – Moneycontrol