Market updates Today
Feb 07 2024Stock in News Today (Stocks for Intraday Trading)
🔸 UPL
Moody’s Investors Service downgraded the company`s senior unsecured rating to `Ba1` from `Baa3` on deterioration in the agrochemical industry fundamentals.
🔸 Power Finance Corp
The company incorporated Bhadla-III and Bikaner-III transmission as a wholly owned subsidiary for the development of transmission system strengthening for interconnections of the Bhadla III and Bikaner-II complexes
🔸 Biocon
The company received USFDA tentative approval for Dasatinib tablets, which are used in the treatment of the Philadelphia chromosome
🔸 Welspun
The Board has approved a plan to set up 150 KMTPA DI Pipes manufacturing facility in the Middle East Region with an investment ~Rs. 500 crores spread over next four to six quarters
🔸 Exide Industries Limited
Company has invested Rs. 29.9 crores by way of subscription in the equity share capital of its wholly owned subsidiary Exide Energy Solutions Limited on rights basis
Stock To Watch ( Stock for Day Trading)
🔸 Hindustan Zinc
The company Earns (A-) Leadership Band Scores from CDP for Climate Change and Water Security Excellence
🔸 Lupin
The company has received the approval from US FDA for its new drug application for bromfenac ophthalmic solution 0.075% to market a generic equivalent of BromSite ophthalmic solution 0.075% of Sun Pharmaceutical Industries Limited
🔸 Navin Fluorine International
The Board has approved Capital Expenditure Rs. 288 crores for new cGMP-4 facility at Dewas unit of the Company to be spent in two or more phases; and Rs. 84 crores for expansion of HFC capacity at Surat unit of the Company
🔸 Godavari Power Ispat
The 23 MWp Captive Solar PV Power Plant of the company situated at Chhattisgarh has been commissioned and duly synchronized with the grid and charged on 6th February 2024
🔸 Nila Infrastructure
The Company has received Letter of Intent from Ahmedabad Municipal Corporation for construction and development of residential units by rehabilitating slums. The project envisages construction and development of 125 residential units for a total development cost of Rs. 10.92 crores
Stock in Action (Stock to Buy / Sell Today)
🔸 Karnataka Bank
Received approval from RBI on exercising the Call Option on Bonds (Listed On NSE Debt Segment)
🔸 Mithan Alloys
The company has entered into an agreement for purchase of 3.25 Lakh Equity shares of National Stock Exchange of India Limited
🔸 Quess Corp Ltd
The administration and investment committee of the board has considered and approved the disinvestment of 100% of equity investment held by the company in its subsidiary Qdigi services limitedResult / Earnings TodayAPOLLOTYRE
ASHOKA
CUMMINSIND
DREAMFOLKS
GICRE
GNFC
LUPIN
MANAPPURAM
NESTLEIND
PARAGMILK
POWERGRID
PROTEAN
RICOAUTO
SOBHA
SOLARINDS
TATACONSUM
Morning Action – Wednesday, February 7th 2024
Stock markets across the globe are trending higher as perma-bulls are attempting to look past Federal Reserve Chairman Jerome Powell`s hawkish appearance on "60 Minutes."
Gift Nifty soars high in early action indicating Nifty will start and finish with strong gains in today’s session. The gyan mantra is to make hay while the sun shines…
GLOBAL UPDATE:
GIFT Nifty (+114, 22115)
Dow Future (+62, 38582)
Nikkei (+20, 36176)
Hang Seng (+31, 15541)
Dow Jones (+141, 38521)
Nasdaq (+11, 15609)
Bovespa (+2823, 130416).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
# US equities, especially the S&P 500 (+0.2% at 4,954) and the Nasdaq Composite (+0.07% at 15,609) traded in negative territory for most of the yesterday’s session after Cleveland Fed President Loretta Mester said "it would be a mistake" to cut rates too soon. "Doing so would undermine all the good work that has gone into getting inflation to this point," she said at a bankers’ meeting in Columbus, Ohio.
But the positive takeaway was that all the indices managed to eke out modest gains by the close.
The Dow Jones was seen outperforming, up 0.4% to end at 38521 mark.
Digging deeper, the Fed chair Jerome Powell comments Sunday night have further dashed hopes that the central bank`s rate-setting committee would begin easing anytime soon.
# The 10-year US Treasury bond yields last traded towards 4.0896 levels.
# The US Dollar stands tall near at 104.15 levels, its highest level since December 11.
# Oil trades range bound at$73.75 a barrel.
# COMEX Gold treading water at $2035.
