Get App
Market Opening – An Overview
GIFT Nifty Futures on the NSE IX was trading 0.07% lower at 21,468.5, signalling that Dalal Street was headed for a negative start on Tuesday.
US stocks gained ground on Monday as market participants parsed mounting expectations of interest rate cuts from the Federal Reserve in the coming year and looked ahead to a week of crucial economic data.
Asian shares and the yen steadied early on Tuesday as traders’ focus turned on Japan’s central bank and whether it might edge further away from its ultra-easy monetary policy, while global equities continued to cheer the prospect of US rate cuts.
The Indian rupee gained 6 paise to Rs. 83.09 against the US dollar on Monday.
Stocks in News Today
Biocon: Subsidiary Biocon Biologics has completed the transition of the acquired biosimilar business in around 120 countries across advanced and emerging markets, a year ahead of schedule. Over 10 emerging markets, along with Japan, Australia, and New Zealand, have transitioned in this final phase of the integration of the biosimilars business acquired from Viatris.
Vedanta: The mining and metals major has approved the second interim dividend of Rs 11 per equity share, i.e., 1,100 percent on the face value of Rs 1 per equity share, for the current financial year 2023–24. This amounted to Rs 4,089 crore. The record date for the payment of dividends will be December 27.
Nestle India: The FMCG company has fixed January 5, 2024, as the record date for determining the entitlement of equity shareholders for sub-division of existing equity shares of the company. One equity share having a face value of Rs 10 each will be subdivided into 10 equity shares having a face value of Rs 1 each.
IRCON International: The International Chamber of Commerce (ICC) has pronounced the award in favour of IRCON of Rs 103.62 crore against the claims of Rs 115.98 crore and cost in the matter of arbitration between the company and Eskom Holdings SOC. The competent authority of IRCON has accepted the said award.
Devyani International: Subsidiary Devyani International DMCC, Dubai, has announced its entry into the quick service restaurants (QSR) and limited service restaurants (LSR) markets of Thailand by signing a share purchase agreement to acquire controlling interest in Restaurants Development Co., Ltd., Thailand. Restaurant Development operates a chain of 274 KFC restaurants across Thailand.
Sun Pharmaceutical Industries: The pharma major has entered into an agreement to acquire 16.7 percent shares in Lyndra Therapeutics Inc., a company based in Massachusetts, for $30 million. Lyndra is engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies.
Apollo Tyres: White Iris Investment, a foreign portfolio investor, is likely to offload 3 percent equity in Apollo Tyres via a block deal. White Iris aims to raise $100 million through the sale of 3 percent equity, along with an upsize option. The floor price for the block deal is likely to be Rs 440 per share.
Sapphire Foods India: Promoter entity Samara Capital Partners Fund II exited Sapphire Foods India, the company behind popular brands like Pizza Hut and KFC, by selling its entire shareholding of 4,49,999 equity shares via open market transactions at a price of Rs 1,400 per share, amounting to Rs 63 crore.