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PRE MARKET
Gift Nifty indicates a weak start for the broader index in India, with a loss of 44 points or 0.17 percent. The Nifty futures were trading around the 25,470.50 level.
Wall Street’s main indexes posted record-high closes on Thursday, a day after the U.S. Federal Reserve delivered a quarter-point interest rate cut, while chipmaker Intel rose after Nvidia decided to build a stake in the company.
The Dow Jones Industrial Average rose 124.10 points, or 0.27%, to 46,142.42, the S&P 500gained 31.61 points, or 0.48%, to 6,631.96, and the Nasdaq Composite gained 209.40 points, or 0.94%, to 22,470.73.
Asian stocks were on the cusp of an intraday record high after US and global equity benchmarks hit fresh peaks, as the Federal Reserve’s interest-rate cut bolstered sentiment.
Japan’s Nikkei and Hong Kong’s Hang Seng went up 0.68 and 0.05 percent, while the KOSPI Index and the Taiwanese weighted index went down 0.37 and 0.50 percent, respectively.
STOCKS TODAY
Vedanta
The company has been declared the preferred bidder for the Punnam Manganese block by the Andhra Pradesh Government. The block is at the G4 level of exploration with a total area of 152 hectares.
Texmaco Rail and Engineering
The company has received an order worth Rs 86.85 crore from UltraTech Cement for BCFC wagons along with a brake van, to be delivered by March 2026.
Indian Hotels Company
Following a media report suggesting that Taj may exit NYC’s Pierre in a $2 billion deal, the company clarified that Indian Hotels Company does not own The Pierre, New York. It holds leasehold rights for the hotel, and operations continue as usual. Recent media reports stating otherwise are misleading and speculative.
JSW Energy
The company’s subsidiary, JSW Neo Energy, has signed a definitive agreement with Statkraft IH Holding AS to acquire 100% equity shares of Tidong Power Generation (TPGPL), which has a 150 MW under-construction hydropower project, for Rs 1,728 crore. After the acquisition, TPGPL will become a subsidiary of JSW Neo Energy and a step-down subsidiary of the company.
Pharmaids Pharmaceuticals
The company has executed an exit/reconstitution deed for the sale of its entire 66.50% partnership stake in Anugraha Chemicals to Sneha Hadimani for Rs 6.65 lakh. Consequently, the company has ceased to be a partner in the firm, and accordingly, the firm has ceased to be a material subsidiary of the company.
Waaree Energies
The company’s subsidiary, Waaree Power, will subscribe to 76% of the share capital of Racemosa Energy (India), which manufactures smart meters, for Rs 53 crore. Post this transaction, Racemosa Energy will become a step-down subsidiary of the company.
Source – Moneycontrol