IGI Logo

CORPORATE AND ECONOMY NEWS

* Lupin: MedQuímica Indústria Farmacêutica, a Brazil-based wholly owned subsidiary of the company, has acquired all rights to nine medicines from BL Indústria Ótica, a subsidiary of Bausch Health Companies.

* NDTV/Adani Enterprises: NDTV promoter group RRPR Holding issued equity shares constituting 99.5% of its equity share capital to Adani Group-owned Vishvapradhan Commercial on Nov. 28.

* Adani Enterprises Ltd: The Adani group company clarified that the news reports stating the company was looking to raise $5 billion funds are incorrect.

* Wipro Ltd: The company announced the launch of its new Skills Guild with Amazon Web Services (AWS). Wipro Step Up will use the AWS Skills Guild framework to transform the way employees engage with clients on their AWS Cloud journeys.

* NBCC (India): The state-owned construction firm said it has got work orders worth Rs 271.62 crore in projects of erstwhile realty firm Amrapali Group. The company informed that it has got an order of Rs 42.44 crore for construction of balance works works of Amrapali corporate Hub at IMT Manesar, Gurugram in Haryana.

* Kotak Mahindra Bank: Kotak Alternate Assets, a division of Kotak Investment Advisors plans to raise up to $1 billion to invest in data centre business, reports PTI citing sources.

* Piramal Enterprises: Meeting of the Administrative Committee of the Board of Directors will be held Dec. 1 to consider and approve the issue of NCDs up to Rs 50 crore along with an option to retain oversubscription up to Rs 200 crore on a private placement basis.

* Lumax Industries: Sets board meeting on Dec. 7 to consider and approve the proposal for setting up a new manufacturing unit in Chakan, Pune and funding options.

* Tata Consultancy Services: IT Indian IT major has launched the Quantum Computing Lab on Amazon Web Services to help enterprises explore, develop, and test business solutions and accelerate the adoption of quantum computing.

* Filatex Fashions: The Hyderabad based manufacturer is planning a capex of Rs 300 crore over next 18 months towards installation of another 500 machines to meet the growing demand for products. It is in the process of acquiring 100 units of cut and sew machines for manufacturing of T-shirts and tracks, dyeing plant and covering plants.

* Five-Star Business Finance Ltd: The recently listed company announced its HIFY23 results on Monday. The company reported a 24 percent year-on-year increase in AUM at Rs 5,732 crore and a 127 percent quarter-on-quarter jump in disbursements.

* Dhanlaxmi Bank Ltd: The bank will consider raising funds up to Rs 200 crore via issuance of non-convertible debentures on December 5.

* Dredging Corporation of India: The state-owned dredging player plans to foray into the foreign dredging market. The initiatives taken for setting our foot once again in foreign waters is likely to materialise. DCI has already been executing the dredging contract for Mongla Port, Bangladesh.

* BSE: Markets regulator Sebi approved the appointment of Sundararaman Ramamurthy as the Managing Director & Chief Executive Officer of leading stock exchange. BSE said the appointment is subject to acceptance of the offer made to him and fulfillment of terms and conditions including approval from the shareholders.

* Kolte Patil: Gopal Laddha as chief financial officer resigned with effect from close of business hours on Nov. 28; Khiroda Chandra Jena is appointed as Chief Financial Officer of the Company with effect from Nov. 29.

* Bharat Bijlee: Life Insurance Corporation of India has reduced its shareholding in the company to 4.54% from 6.7%.

GLOBAL MARKETS

Global Market Update

US stocks ended sharply lower on Monday after protests in major Chinese cities against strict Covid-19 policies sparked concerns about economic growth, while Apple Inc slid on worries about a hit to iPhone production. The S&P 500 declined 1.54 percent to end the session at 3,963.95 points. The Nasdaq Composite Index declined 1.58 percent to 11,049.50 points, while Dow Jones Industrial Average fell 1.45 percent to 33,849.46 points

Crude Oil

Global oil benchmarks pulled back from their lowest levels in nearly a year on Monday, with US crude ending positive, bolstered by talk of an OPEC+ production cut that offset concerns about strict Covid-19 curbs in China, the world's biggest crude importer. Price action was volatile. US West Texas Intermediate (WTI) crude settled up 96 cents, or 1.3 percent, at $77.24, after earlier touching its lowest since December 2021 at $73.60. Brent crude also briefly turned positive, but settled down 44 cents, or 0.5 percent, at trade at $83.19 a barrel, having slumped more than 3 percent to $80.61 earlier in the session for its lowest since January 4, 2022.

SGX Nifty :

Trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 81 points. The Nifty futures were trading around 18,647 levels on the Singaporean exchange.

Nifty Outlook: Nifty opened gap down on Monday at 18431, made a high of 18614, made a low of 18366, and closed on a positive note at 18563 levels. For the day, support for the Nifty exists at 18400 and 18300 levels, whereas resistance for the Nifty stands at 18610 and 18650 levels.

Bank Nifty Outlook: Bank Nifty opened gap down on Monday at 42757 made a high of 43160, made a low of 42740, and closed on a positive note at 43020 levels. For the day, support for Bank Nifty exists at 42740 and 42500 levels, whereas resistance for Bank Nifty stands at 43300 and 43500 levels.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at www.investmentz.com/disclaimer
SEBI Registration number is INZ000186336

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer