PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 97 points or 0.37 percent. The Nifty futures were trading around the 26,058.50 level.
The S&P 500 and the Nasdaq closed lower on Tuesday while the Dow edged up to its third record close in a row, as investors digested disappointing retail sales figures and waited for a key labor market report.
The Dow Jones Industrial Average rose 52.27 points, or 0.10%, to 50,188.14, after hitting an intraday record high earlier in the day. The S&P 500 lost 23.01 points, or 0.33%, to 6,941.81 and the Nasdaq Composite lost 136.20 points, or 0.59%, to 23,102.47.
Asian stocks posted a modest gain at the open as traders braced for US jobs data on Wednesday after weak retail sales reinforced bets that the Federal Reserve will cut interest rates later this year.
Japan’s Nikkei markets are closed for a public holiday. Hong Kong’s Hang Seng and the Taiwanese weighted index went up 0.73 percent and 0.61 percent, respectively.
STOCKS IN NEWS
Tata Motors Commercial Vehicle
The company’s Indonesian subsidiary has secured its largest-ever order for 70,000 Yodha and Ultra T.7 vehicles for deployment across Indonesia. These vehicles will be used to support agricultural activities and rural logistics, including farm-to-market transportation and regional goods movement throughout the country.
Ion Exchange India
The company’s subsidiary, Ion Exchange and Company LLC in Oman, has received a contract from Petroleum Development Oman for a design, build, own, operate, and maintain (DBOOM) agreement for a potable water facility and a sewage treatment facility in the South PDO Concession Area. The contract aggregates to OMR 73.46 million (Rs 1,730 crore) for a period of 20 years.
Highway Infrastructure
The company has entered into a contract agreement for the operation and collection of user fees at the Mundka Fee Plaza. The contract is valued at Rs 64.68 crore. Earlier, on January 19, the company had received a Letter of Acceptance for operations at the Mundka Fee Plaza for the project development of UER-II (NH-344M and NH-344N) in Delhi and Haryana.
Tata Communications
The Board has appointed Siddhartha Mundra as Chief Financial Officer–Designate of Tata Communications, effective February 23. He will take over as the Chief Financial Officer of the company effective May 1. Accordingly, Kabir Ahmed Shakir will cease to be the Chief Financial Officer of the company effective April 30.
Shoppers Stop
The Board has appointed Pankaj Chaturvedi as Chief Financial Officer (CFO) and Key Managerial Personnel of the company, effective April 1, following the resignation of Karunakaran Mohanasundaram as CFO, effective February 17.
Source – Moneycontrol
