PRE MARKET
The trends on Gift Nifty indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,250.00 level, a discount of nearly 0.28 points from the Nifty futures’ previous close.
After the US-Iran war escalated, adding to doubts about prospects for a truce in the Middle East war.
The Dow Jones Industrial Average down 91.45 points, or 0.18%, to 50,779.66, while the S&P 500 declined 19.08 points, or 0.26%, to 7,386.65. The Nasdaq Composite closed 250.84 points, or 0.97%, lower at 25,678.82.
Asian markets traded lower on Wednesday as escalating tensions in the Middle East dented investor sentiment. Japan’s Nikkei 225 declined -1.23%, while South Korea’s Kospi tanked -3.68%, and Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS IN NEWS
Ajanta Pharma
Promoter entity Ravi Agrawal Trust sold 34.5 lakh shares, representing a 2.8% stake in the company, through a block deal worth around ₹1,024 crore. Kotak Mahindra Mutual Fund acquired 21 lakh shares worth ₹624 crore, while Aditya Birla Sun Life Mutual Fund purchased 13.5 lakh shares valued at ₹400 crore. The transaction was executed at an average price of ₹2,968 per share.
Bharti Airtel
A day after the Bombay High Court quashed the Centre’s one-time spectrum charge (OTSC) demands on telecom operators, Bharti Airtel disclosed a financial relief of more than ₹10,500 crore. The company also received regulatory orders from the Department of Telecommunications (DoT) and the Telecom Regulatory Authority of India (TRAI), imposing penalties of ₹6.67 lakh and a financial disincentive of ₹37.12 lakh, respectively.
Dixon Technologies
The company has signed a binding term sheet with Gemtek Technology Co. Ltd. to establish a joint venture for manufacturing optical transceivers and BOSA (Bidirectional Optical Sub-Assembly) products. Dixon will hold a 60% stake in the proposed venture, while Gemtek will own the remaining 40%.
Source: Mint