NEWS IN BRIEF\ Global Equities Update\ TATAPOWER, ASHOKLEYLAND
AHMESBAD, 8 OCTOBER:
Asian markets opened in red zone as U.S. markets closed in red zone while volatility has seen as Chinese markets opened after long holidays. U.S. stock index futures tread water after a bumper payrolls report brewed doubts over the Federal Reserve’s plans to cut interest rates sharply. Wall Street indexes fell sharply as traders priced out expectations for another outsized rate cut by the Fed, while a storm of other negative factors also weighed.
Global Equity Indices Update
| Dow Future (US): | 41926, -28.0 points/ -0.07% |
| Nasdaq Future (US): | 19781, -23.0 points/ -0.12% |
| FTSE Future (UK): | 8323, -22.0 points/ -0.26% |
| DAX Future (Germany): | 19139, -96.0 points/ -0.50% |
| Taiex Future (Taiwan): | 22519, -248.0 points/ 1.09% |
| Hang Seng Future (Hong Kong): | 22343, -851.0 points/ -3.67% |
| Kospi (South Korea): | 2586, -24.0 points/ -0.92% |
| Nikkei Index (Japan): | 38931, -475 points/ 1.21% |
| Gift Nifty: (India) | 24862, -134.0 points/ -0.53% (Adjusted) |
Ashok Leyland: Company wins India’s largest order for electric trucks at Rs 150 crore. (Positive)
Nuvoco Vistas: Company secured 3 limestone blocks in Rajasthan, estimated at 28.43 million tons (Positive)
Swelect Energy: Company unit has successfully commissioned an additional solar power plant having the capacity of 7 mw at Pisanathur village and Pudunagar village at Pudukottai district, Tamil Nadu. (Positive)
Nimbus Projects: Company developing housing project with nimbus Propmart, Estimated cost of project Rs 6.6 billion, sales revenue Rs 8.5 billion (Positive)
Piccadily Agro: Indri single malt launches ‘the city series’ with first travel retail exclusive for Bengaluru duty-free (Positive)
Juniper Hotels: Company entered into secured term loan agreement for Rs 2.8 billion with ICICI Bank (Positive)
Puravankara: Company has acquired 3 acres 4 guntas of land in North Bangalore to develop a residential project. (Positive)
BEL: Company gets orders worth more than Ra 5 billion (Positive)
Cyient DLM: Company has more inorganic growth plans on the cards after acquisition of Altek Electronics (Positive)
ENIL: MGID and company partner to accelerate Native Advertising adoption across India (Positive)
Ani Integrated Services: Company gets order worth upto Rs 1.73 billion for 3 Years (Positive)
Sarvotech: Receives an additional order to Build EV Charging Stations for Nashik Municipal Corporation (Positive)
Chalet Hotels: Company has announced a scheme of arrangement and amalgamation with its subsidiaries, Sonmil Industries Private Limited and the Dukes Retreat Private Limited. (Positive)
Modern Engineering: Company has entered into a MOU with Karmvir intelligent Infra Private Limited for Acquiring of office premises on Long Lease Basis in Commercial (Positive)
PN Gadgil: MD Saurabh Gadgil bets on strong gold demand during Dussehra, Diwali and the upcoming wedding season. (Positive)
Lemon Tree: Company signs license agreement for 54 room hotel in Udaipur, Rajasthan (Positive)
BCPL Railway Infra: BCPL Railway Infra’s subsidiary company “BCL Bio Energy” start crude edible oil production at its 300 Ton per Day Edible Oil Extraction Plant in Burdwan (Positive)
Zodiac Energy: Company bags order ₹154.27 Cr from Ahmedabad Municipal Corporation (Positive)
Oil upstream stocks: Brent crude rises to 80/bbl for the first time since August (Positive)
HEG: Company said they have bought 8.23% shares of their competitor Graftech international for ₹248 cr (Positive)
Mindtek: Company will reward its shareholders one extra share for every four shares they already own (Positive)
Tata Power: Company will announce its Q2 FY25 financial results on October 30, 2024. (Neutral)
Craftsman Automation: Acquisition of securities of sunbeam Light weighting solutions; Company subscribed to OCDS of sunbeam for a consideration Rs 1.36 billion, as per terms of OCDS, Company has option to convert OCDS into shares (Neutral)
Hi-Tech Pipes: Company approves floor price for issue at Rs 194.98 per share via QIP (Neutral)
HDFC Bank: Company board approved sale of 100% stake in HDFC EDU to Vama Sundari investments; sale worth Rs 1.92 billion, entity being sold belongs to education services sector. (Neutral)
Star Cement: Company has appointed Mr. Dilip Kumar Agarwal as Chief Commercial & Corporate Affairs Officer, effective October 7, 2024. (Neutral)
Electro Steel Castings: Company remitted Rs 415 million for acquisition of shares of Singardo international, Singardo will become a wholly owned subsidiary of Company. (Neutral)
Tata Motors: JLR Retail sales in Q2 FY25 were 103,108 units, down 3% vs Q2 FY24, JLR wholesales in Q2 FY25 were 87,303 units, down 10% vs Q2 FY24. (Neutral)
Sumitomo Chemical: Board Meeting on Oct 28 to consider Q2 Results (Neutral)
Stylam Industries: Board Meeting on Oct 15 to consider Q2 Results (Neutral)
Bajaj Hind: Company terminates its joint venture agreement with EverEnviro Resource Management. (Neutral)
Shakti Pumps: Board of directors approves increase in authorised share capital of the firm by Rs 150 crore. (Neutral)
Nykaa: Sees ‘gradual’ revival in H2 on festive & wedding season. (Neutral)
Cholamandalam Investment: Company appoints Ravindra Kumar Kunduh as Managing Director of the company w.e.f October 7. (Neutral)
Paras Defence: Company closes QIP, sets issue price at Rs 1,045/share. (Neutral)
Hero Motocorp: Hero Motors withdraws its draft papers for its 900 crore IPO. (Negative)
Ircon: Apex Buildsys files a claim worth Rs 38.71 crore against company over disputes related to their Raebareli project. (Negative)
OLA Elec: Company received show cause notice from the Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement and unfair trade practices (Negative)
(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)
(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ/ ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)
