Market Opening - An Overview
GIFT Nifty Futures on the NSE IX was trading 0.13% lower at 21,032, signalling that Dalal Street was headed for a negative start on Thursday.
Wall Street ends lower as investors weigh fresh employment data, Asian markets were trading lower, mirroring moves on Wall Street as investors assessed trade data from China and Australia. Japan’s Nikkei down 1.2%, While Kospi down 0.5%.
The Indian rupee fell 6 paise to 83.39 against the US dollar on Thursday.The Indian rupee ended higher by 6 paisa at around 83.32 against the US dollar on Wednesday.
Stocks in News Today
Shree Cement: The cement manufacturer plans to bid for lithium mining rights under a government plan to secure critical minerals production through auctions that are expected to raise more than $5 billion.
One 97 Communications: The Paytm operator will further expand its business to offer higher-ticket personal and merchant loans, which would be targeted at lower-risk and high-credit-worthy customers, in partnership with large banks and NBFCs.
Mahindra and Mahindra: M&M will hike the prices of its passenger and commercial vehicle models starting in January next year. This adjustment is in response to rising costs due to inflation and increased commodity prices, the company said in a statement.
Bharat Electronics: The state-owned defence company has received an order of Rs 580 crore from the Indian Army for the AMC of radars. It has also received additional orders worth Rs 3,335 crore since the last disclosure on September 15, 2023. With this, cumulatively, BEL has received orders worth Rs 18,298 crore in FY24.
Adani Ports and Special Economic Zone: The Adani Group company said its Board of Directors will be meeting on December 12 to consider the issuance of non-convertible debentures and the issuance or renewal of non-cumulative redeemable preference shares on a private placement or preferential basis in one or more tranches.
IDFC First Bank: Madhivanan Balakrishnan has resigned as Executive Director and Key Managerial Personnel of the bank, with effect from December 6. The board members discussed that the bank would evaluate a suitable internal candidate to be appointed as the full-time director.
Dr Reddy’s Laboratories: Subsidiary Dr Reddy’s Laboratories SA and Coya Therapeutics Inc. entered into a development and licence agreement for the development and commercialization of COYA 302, an investigational combination therapy for the treatment of Amyotrophic Lateral Sclerosis (ALS).
IRCON International: The Government of India will be selling an 8 percent stake, or 7.52 crore equity shares, in the infrastructure company via offer-for-sale (OFS) on December 7-8, with a floor price of Rs 154 per share. The OFS, which comprises a base issue size of 4 percent and a greenshoe option of 4 percent shares, will open for non-retail investors on December 7 and retail investors on December 8.