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PRE MARKET
Gift Nifty indicates a negative start for the broader index in India, with a loss of 67.5 points or 0.27 percent. The Nifty futures were trading aroundthe 25,176.50 level.
US stocks finished lower on Tuesday, breaking a three-session string of record closing highs, as Federal Reserve Chair Jerome Powell said the U.S. central bank needs to balance inflation concerns with a weakening job market in its coming interest rate decisions.
The Dow Jones Industrial Average fell 88.76 points, or 0.19%, to 46,292.78, the S&P 500 lost 36.83 points, or 0.55%, to 6,656.92, and the Nasdaq Composite lost 215.50 points, or 0.95%, to 22,573.47.
Asian stocks fell after Wall Street shares retreated as mixed signals from Federal Reserve policymakers clouded the path for interest-rate cuts.
Japan’s Nikkei, KOSPI Index, and the Taiwanese weighted index went down 0.45, 0.98, and 0.30 percent, respectively.
STOCKS TODAY
Akzo Nobel India
Promoter Imperial Chemical Industries is likely to sell up to a 5% stake in Akzo Nobel via block deals, with an offer size of Rs 742.7 crore and a floor price of Rs 3,261.8 per share.
Dilip Buildcon
The company, through DBL-PSP JV, has been declared as an L-1 bidder for the project worth Rs 1,115.37 crore by the Kerala Industrial Corridor Development Corporation. The project involves design, construction, testing, commissioning, and operation & maintenance of infrastructure works at Pudussery Central & Kannambra of Palakkad Node in Kerala on an EPC basis.
HCL Technologies
The global technology company has renewed its long-standing digital transformation agreement with the Sweden-based commercial vehicle manufacturer for AI-powered digital foundation services.
Torrent Power
The company has acquired 11.95 lakh equity shares (49% stake) of Newzone India (NZIPL) and 30 lakh equity shares (100% stake) of Newzone Power Projects (NZPPPL), the holding company of NZIPL, from the Sarawagi Family and related HUFs for Rs 211 crore. NZPPPL already holds a 51% stake in NZIPL.
Bajaj Electricals
The Board has approved the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights for Rs 146 crore in the territories of India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, from Glen Electric (part of the Glen Dimplex Group, Ireland).
Source – Moneycontrol