Get App
Market Opening – An Overview
GIFT Nifty Futures on the NSE IX was trading 0.05% higher at 21,484.5, signalling that Dalal Street was headed for a flat start on Friday.
The S&P 500 ended a choppy session little changed on Friday but registered a seventh straight week of gains in its longest winning streak since 2017 after this week’s dovish pivot by the Federal Reserve.
Asian markets dipped Monday at the start of the penultimate week of 2023, after most markets in the region rallied last week following the US Federal Reserve’s decision to hold rates and its roadmap for rate cuts in 2024 and 2025. Japan’s Nikkei down 1.23 percent and and Kospi index down 0.3 percent.
The Indian rupee dived 32 paise to Rs. 83.03 against the US dollar on Friday.
Stocks in News Today
Tata Power Company: Tata Power Solar Systems, a wholly owned subsidiary of Tata Power Renewable Energy, has signed a contract to supply 152 MWp DCR solar PV modules for NTPC’s Nokh solar PV project in Rajasthan. The project order value is approximately Rs. 418 crore. NTPC is developing 3*245 MW (735 MW) Nokh Solar Park at Pokaran, Rajasthan.
Mazagon Dock Shipbuilders: The shipbuilding company has signed individual shipbuilding contracts with the European client for construction of three units of 7,500 DWT multi-purpose hybrid powered vessels. The contract is valued at approximately $42 million.
Adani Enterprises: Subsidiary AMG Media Networks has acquired a 50.50 percent stake constituting equity shares (Category I shares with voting rights) and equity shares (Category II shares without voting rights) each of IANS India for Rs 5.1 lakh. AMNL has also signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS.
PB Fintech: Softbank entity SVF Python II Cayman has sold 1,14,21,212 equity shares in the Policybazaar operator via open market transactions. SVF offloaded these shares at a price of Rs 800.05 per share, valued at Rs 913.75 crore.
PVR INOX: Plenty Private Equity Fund I, and Plenty Private Equity FII I have offloaded 18,38,757 equity shares or 1.87 percent of paid-up equity in the multiplex chain via block deals, at a price of Rs 1,753 per share. These shares are valued at Rs 322.33 crore.
Zee Entertainment Enterprises: The media and entertainment company has requested Culver Max Entertainment (formerly known as Sony Pictures Networks India) and Bangla Entertainment to extend the date required to make the scheme effective, as per the terms of the merger cooperation agreement. These companies signed the said merger cooperation agreement in December 2021.
Zydus Lifesciences: The pharmaceutical company has received permission from the USFDA to initiate the Phase II clinical study of the NLRP3 inhibitor ZYIL1 in patients with Parkinson’s disease.
Mankind Pharma: The healthcare company has made an investment of 999,900 pounds in Actimed Therapeutics for an additional 1.29 percent stake. After this investment, the aggregate shareholding of the company in Actimed will be 10.19 percent. It is a strategic investment in the field of treatment of cancer cachexia, amyotrophic lateral sclerosis, and other muscle-wasting disorders.