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PRE MARKET
Gift Nifty indicates a strong start for the broader index in India, with a gain of 463 points or 1.89 percent. The Nifty futures were trading around the 24,553 level.
US stocks ended the week on a quiet note on Friday after oscillating between slight gains and declines, as investors gauged President Donald Trump’s comments on Chinese tariffs ahead of weekend trade talks between the two countries.
The Dow Jones Industrial Average fell 119.07 points, or 0.29%, to 41,249.38, the S&P 500 lost 4.03 points, or 0.07%, to 5,659.91, and the Nasdaq Composite gained 0.78 points, or flat, to 17,928.92.
Asian markets were trading higher in the early Monday trade, as China and the US made “substantial progress” on their trade talks, spurring a risk-on mode.
Japan’s Nikkei went up by 0.04 percent, Hang Seng increased around 1.44 percent, and the Taiwanese weighted index has seen a rise of over 1.1 percent.
STOCKS TODAY
STOCKS TODAY
YES Bank
Sumitomo Mitsui Banking Corporation (SMBC) will acquire a 20% stake in Yes Bank for Rs 13,482 crore for Rs 21.50 per share from multiple banks. As per the share purchase agreement, SMBC will purchase a 13.19% stake from SBI, and the remaining 6.81% stake from HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IDFC First Bank, Federal Bank, and Bandhan Bank.
Puravankara
The company has announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru. The project’s estimated gross development value (GDV) exceeds Rs 3,300 crore. Additionally, Mallanna Sasalu has been appointed CEO–South, effective May 9. Abhishek Kapoor has resigned as Executive Director and Group CEO, also effective May 9.
NTPC Green Energy
The Board has approved Sarit Maheshwari’s appointment as the company’s Chief Executive Officer and the cessation of Rajiv Gupta as Chief Executive Officer, both effective May 10.
Adani Power
Share price of this power company’s stock is likely to break a four-day losing streak on May 12 following a power supply order win from Uttar Pradesh Power Corporation. The company has received a Letter of Award (LoA) from Uttar Pradesh Power Corporation Limited (UPPCL) for the procurement of 1,500 MW from a new thermal power project of 2x800MW (1600 MW) installed capacity situated in the State of Uttar Pradesh for a period of 25 years.
Source – Moneycontrol
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