PRE MARKET
Gift Nifty indicates a sharp red start for the broader index in India, with a loss of 513 points or 2.16 percent. The Nifty futures were trading around the 23,280 level.
Wall Street ended lower on Wednesday, driven by fears of a prolonged pause in the Fed funds rates, spiking oil prices, and the sharp fall in global peers
The S&P 500 fell -1.36% to end the session at 6,624.71 points. The Nasdaq sank -1.46% to 22,152.42 points, while the Dow Jones Industrial Average rose 0.28% to 46,354.93 points.
Asian equities also opened in the red due to the continuing West Asia conflicts.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index edged down -2.63, -1.49, and -1.08 percent.
STOCKS IN NEWS
Alkem Laboratories
The company has received an allotment letter from DMIC Vikram Udyogpuri for 30 acres of land in the Industrial Area, Phase 2, Ujjain, Madhya Pradesh, to set up a greenfield formulations manufacturing facility. The Board has approved an investment of up to Rs 533 crore, to be made in a phased manner.
Manappuram Finance
The Reserve Bank of India has approved Bain Capital’s acquisition of joint control of Manappuram Finance and its subsidiaries. With this, the company and its subsidiaries have now received all requisite statutory approvals for Bain Capital’s proposed investment of approximately Rs 4,385 crore and the acquisition of joint control alongside existing promoters, along with the consequent open offer.
Nazara Technologies
The company’s wholly owned subsidiary, Nazara Technologies UK, has signed definitive agreements to acquire a 50% controlling stake in social gaming platforms Bluetile Games SL and BestPlay Systems SL for $100.3 million (Rs 918 crore).
G R Infraprojects
The company has emerged as the L1 bidder for a project worth Rs 2,440.87 crore from the National Highways Authority of India. The project involves the construction of a four-lane greenfield section of NH-33 from Mokama to Munger in Bihar under the Hybrid Annuity Mode.
Belrise Industries
The company’s subsidiary, Belrise UK Holdings, has signed a definitive share purchase agreement to acquire a 100% stake in Chester Hall Precision Engineering Holdings, a UK-based precision engineering group serving the global aerospace, space, and defence sectors.
Source – Moneycontrol
