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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Thursday tracking weakness in Asian peers.
Gift Nifty was trading around 23,800 level, a discount of nearly 70 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
US stock market indexes closed with modest gains on Wednesday ahead of the release of an inflation report.
The Dow Jones Industrial Average gained 16.10 points, or 0.04%, to 39,128.26, while the S&P 500 rose 8.61 points, or 0.16%, to 5,477.91. The Nasdaq Composite ended 87.50 points, or 0.49%, higher at 17,805.16.
Asian markets traded lower on Thursday as the Japanese yen weakened to a near 38-year low and ahead of economic data in the region.
Japan’s Nikkei 225 fell 0.93% while the Topix declined 0.36%. South Korea’s Kospi dropped 1% and the Kosdaq gained 0.24%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
PI Industries: The company has announced an offer to acquire Plant Health Care Plc for £32.8 million, with a strategic objective to build a differentiated portfolio of integrated solutions for sustainable agriculture.
EMS: The company has received a letter of award for a survey, investigation, design, build, operate, and transfer of interception & diversion and treatment works including a 15-year O&M period at Hathras Town, UP under the Namami Gange Programme on DBOT mode. The estimated order value is Rs 119.05 crore, wherein EMS has a 26% share with the other two JV partners.
JSW Neo Energy: JSW Neo Energy, a wholly-owned subsidiary of the company, through its subsidiaries, has signed Power Purchase Agreements for wind and solar projects with a cumulative capacity of 1,325 MW comprising 1,025 MW with Solar Energy Corporation of India and 300 MW with Gujarat Urja Vikas Nigam.
Godrej Properties: The company received a letter from the members of the promoter group, intimating that the realignment pursuant to the Family Settlement Agreement is expected to be completed in July 2024.
Rail Vikas Nigam: The KRDCL-RVNL joint venture has received a Letter of Acceptance from Southern Railway for a project worth Rs 156.47 crore, involving the provision of automatic signaling on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on the B-Route of Thiruvananthapuram division in Southern Railway.
ITD Cementation India: The company has secured a new marine contract for constructing the Third Berth (Jetty) and specified additional works at Dahej LNG terminal in Gujarat, worth Rs 1,082 crore.
Dr Reddy’s Laboratories: Subsidiary Dr Reddy’s Laboratories SA, Switzerland has entered into a definitive agreement with Haleon plc and its associate companies to acquire Nicotinell and related brands.
Bharti Airtel: Bharti Airtel has acquired 97 MHz spectrum in 900 MHz, 1,800 MHz, and 2,100 MHz frequency bands through the auction for Rs 6,857 crore.