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PRE-MARKET REPORT
The domestic equity market is expected to open positively amid mixed global cues.
Gift Nifty was trading around 24,616.50 level, a premium of nearly 87 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
As the US dollar strengthened following the attempted assassination of Donald Trump, which bolstered expectations that he has a better chance of winning the presidency, Asian stocks were mixed.
While Hong Kong futures suggested an early loss when markets opened, Australian and South Korean equities increased. Bond rates in Australia decreased a little.
The US stock market ended higher on Friday, with the S&P 500 and Dow Jones Industrial Average hitting intraday record highs.
The Dow Jones Industrial Average gained 0.62% to 40,000.90 points, while the S&P 500 rose 0.55% to end at 5,615.35 points. The Nasdaq closed 0.63% higher at 18,398.45.
For the week, the S&P 500 rose 0.9%, the Nasdaq added 0.2% and the Dow rose 1.6%.
STOCKS TODAY
Lupin: The global pharmaceutical company has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its manufacturing facility in Dabhasa, Gujarat. The EIR was issued following the last inspection of the facility conducted from April 8 to April 12, 2024. The inspection concluded with no observations, and the facility received an inspection classification of “No Action Indicated” (NAI).
Piramal Pharma: The US FDA conducted a Pre-Approval Inspection (PAI) of the company’s PPDS Ahmedabad facility from July 10 to July 12. The inspection was completed with zero Form 483 observations and a designation of “No Action Indicated” (NAI).
Rail Vikas Nigam: The company has received a Letter of Acceptance from Central Railway for a project worth Rs 132.6 crore. The project involves OHE modification work to upgrade the existing 1 x 25 kV electric traction system to a 2 x 25 kV AT Feeding System in the Wardha-Ballarshah section of Nagpur division, Central Railway, to meet a 3000 MT loading target.
Alembic Pharmaceuticals: The company has received tentative approval from the US Food & Drug Administration (USFDA) for Selexipag for injection, 1,800 mcg/vial. Selexipag is a prostacyclin receptor agonist indicated for the treatment of pulmonary arterial hypertension.
EMS: The company has received a letter of award for the development of distribution infrastructure-loss reduction works at EDC Dehradun Rural Circle of Uttarakhand from Uttarakhand Power Corporation. The order value is Rs 141.1 crore, with EMS having a 95% share and the other JV partner having the remainder.
RSWM: The company has entered into an agreement with Didwania Trading Company, Bhilwara, for the sale of a thermal power plant (2 X 23 MW), which has now become cost-efficient and redundant, for Rs 48.01 crore.