PRE MARKET
Trends on GIFT Nifty indicate a strong start for the broader index in India, with a gain of 177.50 points or 0.74 percent. The Nifty futures were trading around 24,131.50 level.
The S&P 500 and Nasdaq closed at record highs on Friday, bolstered by optimism for possible negotiations between the U.S. and Iran to end their war and a surge in Intel shares that extended the rally in semiconductor stocks.
The Dow Jones Industrial Average fell 79.61 points, or 0.16%, to 49,230.71, the S&P 500 gained 56.68 points, or 0.80%, to 7,165.08 and the Nasdaq Composite gained 398.09 points, or 1.63%, to 24,836.60.
Asian markets were mostly higher Monday as investors looked past renewed diplomatic setbacks between the U.S. and Iran, even as escalating tensions in the Middle East kept oil prices elevated.
Japan’s Nikkei, Hong Kong’s Hang Seng and the the Taiwanese weighted index market traded mixed 1.48, -0.17 and 2.24 percent respectively.
STOCKS IN NEWS
One 97 Communications Paytm
The Reserve Bank of India has cancelled the banking licence of the company’s associate entity, Paytm Payments Bank, effective April 24. Consequently, Paytm Payments Bank is prohibited from conducting banking business.
Following the RBI order, the Board of Directors and shareholders, on April 25, approved the necessary resolutions to enable the winding-up of Paytm Payments Bank.
Wipro
The company announced a strategic partnership with Kongsberg Digital, a global leader in advanced engineering and industrial digitalisation, to jointly deploy next-generation AI-powered digital twin solutions for the energy and utilities sector.
Indian Hume Pipe Company
The company has received a Letter of Intent worth Rs 417.97 crore from the Jihe Kathapur Lift Irrigation Division of the Maharashtra Krishna Valley Development Corporation (MKVDC). The order is for the construction of headworks and a closed pipe distribution system of the NER direct gravity main under the Guruvarya Late Laxmanraoji Inamdar Lift Irrigation Scheme, Maharashtra.
JK Cement
The company has been declared the preferred bidder for the mining lease of the Maliyakheri Limestone Block-I, which spreads over an area of 6.90 hectares in Chittorgarh, Rajasthan.
Pine Labs
The Board has approved the acquisition of a 100 percent stake in Shopflo Technologies by Pine Labs from the existing shareholders for Rs 88 crore.
Source – Moneycontrol
