PRE MARKET
GIFT Nifty indicate a negative start for the broader index in India, with a loss of -128.50 points or 0.51 percent. The Nifty futures were trading around 24,274.00 level.
US market ended lower on Thursday, with Intel and other chip stocks retreating after a recent rally, while uncertainty around U.S.-Iran peace talks weighed on the wider market.
The S&P 500 declined 0.38% to end the session at 7,337.11 points. The Nasdaq declined 0.13% to 25,806.20 points, while the Dow Jones Industrial Average positive 0.12% to 49,656.49 points.
Asian stocks pulled back from a record high and crude oil rose as escalating tensions in the Middle East revived concerns over energy supplies, testing the durability of the recent equity rally.
Japan’s Nikkei, Hong Kong’s Hang Seng and the the Taiwanese weighted index market traded in loss -0.91, -1.33 and -0.69 percent respectively.
STOCKS IN NEWS
Lenskart
Lenskart is likely to see action after reports of a large block deal worth around $350 million surfaced in the market. The deal involves sale of about 7.02 crore shares at Rs 470 per share, implying a discount of roughly 3.6% to the previous closing price. Existing investors including Birdseye View Holding, TR Capital Mauritius, ABG Capital, and Kariba Holdings are reportedly looking to fully exit, while Alpha Wave is expected to retain part of its holding with a 90-day lock-in on the balance stake.
Gala Global Products
Gala Global Products Limited has informed exchanges that shareholders at an Extraordinary General Meeting (EGM) held on May 7 considered a proposal to initiate either a Pre-Packaged Insolvency Resolution Process (PPIRP) or a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code.
Western Ministil
Western Ministil Limited has signed a share purchase agreement to acquire 100% stake in Micron Calcite Private Limited, making the latter its wholly owned subsidiary. The company said the transaction is being conducted at arm’s length pricing.
Cochin Shipyard Limited
Cochin Shipyard Limited said its wholly owned subsidiary Udupi Cochin Shipyard Limited has secured a “notable” domestic order from Ocean Sparkle Limited, an Adani Group company. The order involves construction of four 70-ton Bollard Pull ASD (Azimuth Stern Drive) tugs.
Source – Moneycontrol
