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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open lower on Monday following negative global market cues.
Gift Nifty was trading around the 23,395 level, a discount of nearly 80 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market ended mostly lower on Friday weighed down by selling in technology stocks.
The Dow Jones Industrial Average gained 15.57 points, or 0.04%, to 39,150.33, while the S&P 500 fell 8.55 points, or 0.16%, to 5,464.62. The Nasdaq Composite ended 32.23 points, or 0.18%, lower at 17,689.36.
Asian markets traded lower ahead of inflation data in the region later this week.
Japan’s Nikkei 225 fell 0.19%, while the Topix gained 0.24%. Japanese yen slipped 0.1% to 159.91.
South Korea’s Kospi declined 0.39%, and the Kosdaq dropped 0.54%. Hong Kong Hang Seng index futures indicated a negative opening.
STOCKS TODAY
TVS Motors: The company signed an agreement with CSC Grameen e-stores for its commercial vehicle range of three-wheelers. The partnership will enable CSC’s village-level entrepreneurs to serve as a touchpoint for TVS Motor’s commercial vehicles.
IREDA: The company raised Rs 1,500 crore through the issuance of bonds. The bond issuance consisted of a base issue of Rs 500 crore and a green shoe option of Rs 1,000 crore and was oversubscribed 2.65 times.
GRM Overseas: The company approved a fund-raise of Rs 136.5 crore through the issuance of share warrants on a preferential basis to 33 investors, including promoters and non-promoter investors. This includes the allotment of up to 91,00,000 share warrants at an issue price of Rs 150, at a premium of Rs 148 per warrant.
Pfizer Limited: The company has received an order from the Deputy Commissioner, State Tax, Dehradun, for a penalty of Rs 14.19 lakh for the financial year 2017-18, under the Value Added Tax Act, 2005. The company has stated that based on their assessment, they believe that the demand is not maintainable, and they are in the process of preparing an appeal against the order.
Honeywell Automation India: The company has received a demand notice from the Department of Registration and Stamps, Government of Maharashtra, for a reduced penalty of Rs 1.67 lakh. The company says that there will be no material impact on the financials or operations and is in the process of evaluating the demand to take appropriate actions.
Sky Gold: The company approved the purchase of 100 percent equity shares of Starmangalsutra Private Limited and Sparkling Chains Private Limited held by existing shareholders of the company. This will result in a 100 percent acquisition of the paid-up equity share capital of both companies by way of a share swap.