As per provisional closing data, the barometer index, the S&P BSE Sensex, jumped 361.75 points or 0.44% to 81,921.29. The Nifty 50 index gained 104.70 points or 0.42% to 25,041.10.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index gained 1.53%.
The market breadth was strong. On the BSE, 2,588 shares rose and 1,351 shares fell. A total of 103 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.16% to 13.36.
IPO Update :
The initial public offer (IPO) of P N Gadgil Jewellers received 2,46,99,281 bids for shares as against 1,68,85,964 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 1.46 times.
The issue opened for bidding on Tuedsady (10 September 2024) and it will close on Thursday (12 September 2024). The price band of the IPO is fixed between Rs 456 to Rs 480 per share. An investor can bid for a minimum of 31 equity shares and in multiples thereof.
The initial public offer (IPO) of Kross received 3,32,06,146 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 2.16 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 3,29,18,490 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 4.40 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 4,01,33,55,786 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 5.52 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Media index jumped 2.69% to 2,107.35. The index fell 1.47% in the past two consecutive trading sessions.
Hathway Cable & Datacom (up 5.14%), Saregama India (up 4.67%), Nazara Technologies (up 4.52%), Zee Entertainment Enterprises (up 4.34%), Tips Industries (up 3.1%), PVR Inox (up 1.65%), TV18 Broadcast (up 1.62%), Network 18 Media & Investments (up 1.13%) and Dish TV India (up 0.86%) advanced.
Stocks in Spotlight:
Hindustan Aeronautics (HAL) rose 0.69%. The companys board has appoved the appointment of D K Sunil, Director (Engineering and R&D) of the company as chairman & managing director with effect from 9 September 2024.
Meanwhile, the Ministry of Defence has signed a contract with the company for supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF), at a cost of over Rs 26,000 crore.
H.G. Infra Engineering zoomed 7.77% after the company announced that it has received the letter of award (LoA) from the Ministry of Road Transport & Highways (MoRTH) for upgrading the existing road in Gujarat.
Awfis Space Solutions advanced 4.67% after the company informed that it has entered into a business transfer agreement (BTA) with SMS integrated facility services for selling facility management business, Awfis Care for Rs 27.5 crore on a slump sale.
Ahluwalia Contracts (India) gained 3.45% after the company announced that it has bagged two contracts worth Rs 1,307 crore from SignatureGlobal for housing projects.
JSW Energy rose 2.02% after the companys wholly owned subsidiary, JSW Neo Energy received a letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up 600 MW Wind-Solar Hybrid Power Project.
SJVN jumped 6.02% after the company announced that it has singed MoU with GMR Upper Karnali Hydro Power and IREDA for development of Upper Karnali Hydro Electric Project (900 MW) in Nepal.
IRB Infrastructure Developers rose 0.89%. The companys toll collection jumped 20.46% to Rs 502.6 crore in August 2024 as against Rs 417.2 crore posted in August 2023.
Dixon Technologies (India) added 1.06% after the companys wholly owned subsidiary, Padget Electronics (Padget) has entered into an MOU with HP India Sales for manufacturing electronic gadgets.
ITI rallied 5.88% after the company informed that it has received an order around Rs 300 crore from Bihar Renewable Energy Development Authority (BREDA) for supply and installation of 1,00,000 numbers of solar street light systems in Bihar.
SEPC surged 6.54% after the company announced that it has been awarded a work order for Rs 182.56 crore by the Executive Engineer, Irrigation Division, Government of Bihar.
Global Markets:
Most European shares declined while most Asian stocks ended higher on Tuesday, as investors eagerly awaited upcoming inflation data for hints on potential interest rate cuts.
China’s exports grew by 8.7% year-on-year in August, while imports increased by 0.5%, according to customs data released on Tuesday. This compares to the previous growth rates of 6.5% for exports and 2% for imports.
While Chinese markets participated in the regional uptrend, they underperformed due to several factors. The recent passage of a U.S. bill imposing fresh restrictions on Chinese biotechnology companies dampened sentiment. Additionally, a series of mixed economic indicators released over the past week weighed on Chinese stocks.
The primary focus this week is on the key US consumer price index inflation data, which is expected to influence the outlook for interest rates.
U.S. stocks rallied on Monday as investors bought the dip, anticipating a potential Federal Reserve rate cut later this month to support the slowing economy. Technology stocks, which were among the hardest hit last week, led the rebound. The Dow Jones Industrial Average surged 1.2%, the S&P 500 gained 1.16%, and the Nasdaq Composite jumped 1.16%.
The US House of Representatives on Monday overwhelmingly passed the BIOSECURE Act by a vote of 306 to 81. This legislation aims to restrict business dealings between US drug companies and certain Chinese biotech firms within an eight-year timeframe. The act specifically targets five Chinese companies: BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics. The US government will now be prohibited from contracting with or providing grants to these companies. The BIOSECURE Act will now proceed to the US Senate for further consideration and potential passage.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex, jumped 361.75 points or 0.44% to 81,921.29. The Nifty 50 index gained 104.70 points or 0.42% to 25,041.10.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index gained 1.53%.
The market breadth was strong. On the BSE, 2,588 shares rose and 1,351 shares fell. A total of 103 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.16% to 13.36.
IPO Update :
The initial public offer (IPO) of P N Gadgil Jewellers received 2,46,99,281 bids for shares as against 1,68,85,964 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 1.46 times.
The issue opened for bidding on Tuedsady (10 September 2024) and it will close on Thursday (12 September 2024). The price band of the IPO is fixed between Rs 456 to Rs 480 per share. An investor can bid for a minimum of 31 equity shares and in multiples thereof.
The initial public offer (IPO) of Kross received 3,32,06,146 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 2.16 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 3,29,18,490 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 4.40 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 4,01,33,55,786 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 5.52 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Media index jumped 2.69% to 2,107.35. The index fell 1.47% in the past two consecutive trading sessions.
Hathway Cable & Datacom (up 5.14%), Saregama India (up 4.67%), Nazara Technologies (up 4.52%), Zee Entertainment Enterprises (up 4.34%), Tips Industries (up 3.1%), PVR Inox (up 1.65%), TV18 Broadcast (up 1.62%), Network 18 Media & Investments (up 1.13%) and Dish TV India (up 0.86%) advanced.
Stocks in Spotlight:
Hindustan Aeronautics (HAL) rose 0.69%. The companys board has appoved the appointment of D K Sunil, Director (Engineering and R&D) of the company as chairman & managing director with effect from 9 September 2024.
Meanwhile, the Ministry of Defence has signed a contract with the company for supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF), at a cost of over Rs 26,000 crore.
H.G. Infra Engineering zoomed 7.77% after the company announced that it has received the letter of award (LoA) from the Ministry of Road Transport & Highways (MoRTH) for upgrading the existing road in Gujarat.
Awfis Space Solutions advanced 4.67% after the company informed that it has entered into a business transfer agreement (BTA) with SMS integrated facility services for selling facility management business, Awfis Care for Rs 27.5 crore on a slump sale.
Ahluwalia Contracts (India) gained 3.45% after the company announced that it has bagged two contracts worth Rs 1,307 crore from SignatureGlobal for housing projects.
JSW Energy rose 2.02% after the companys wholly owned subsidiary, JSW Neo Energy received a letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up 600 MW Wind-Solar Hybrid Power Project.
SJVN jumped 6.02% after the company announced that it has singed MoU with GMR Upper Karnali Hydro Power and IREDA for development of Upper Karnali Hydro Electric Project (900 MW) in Nepal.
IRB Infrastructure Developers rose 0.89%. The companys toll collection jumped 20.46% to Rs 502.6 crore in August 2024 as against Rs 417.2 crore posted in August 2023.
Dixon Technologies (India) added 1.06% after the companys wholly owned subsidiary, Padget Electronics (Padget) has entered into an MOU with HP India Sales for manufacturing electronic gadgets.
ITI rallied 5.88% after the company informed that it has received an order around Rs 300 crore from Bihar Renewable Energy Development Authority (BREDA) for supply and installation of 1,00,000 numbers of solar street light systems in Bihar.
SEPC surged 6.54% after the company announced that it has been awarded a work order for Rs 182.56 crore by the Executive Engineer, Irrigation Division, Government of Bihar.
Global Markets:
Most European shares declined while most Asian stocks ended higher on Tuesday, as investors eagerly awaited upcoming inflation data for hints on potential interest rate cuts.
China’s exports grew by 8.7% year-on-year in August, while imports increased by 0.5%, according to customs data released on Tuesday. This compares to the previous growth rates of 6.5% for exports and 2% for imports.
While Chinese markets participated in the regional uptrend, they underperformed due to several factors. The recent passage of a U.S. bill imposing fresh restrictions on Chinese biotechnology companies dampened sentiment. Additionally, a series of mixed economic indicators released over the past week weighed on Chinese stocks.
The primary focus this week is on the key US consumer price index inflation data, which is expected to influence the outlook for interest rates.
U.S. stocks rallied on Monday as investors bought the dip, anticipating a potential Federal Reserve rate cut later this month to support the slowing economy. Technology stocks, which were among the hardest hit last week, led the rebound. The Dow Jones Industrial Average surged 1.2%, the S&P 500 gained 1.16%, and the Nasdaq Composite jumped 1.16%.
The US House of Representatives on Monday overwhelmingly passed the BIOSECURE Act by a vote of 306 to 81. This legislation aims to restrict business dealings between US drug companies and certain Chinese biotech firms within an eight-year timeframe. The act specifically targets five Chinese companies: BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics. The US government will now be prohibited from contracting with or providing grants to these companies. The BIOSECURE Act will now proceed to the US Senate for further consideration and potential passage.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex, jumped 361.75 points or 0.44% to 81,921.29. The Nifty 50 index gained 104.70 points or 0.42% to 25,041.10.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index gained 1.53%.
The market breadth was strong. On the BSE, 2,588 shares rose and 1,351 shares fell. A total of 103 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.16% to 13.36.
IPO Update :
The initial public offer (IPO) of P N Gadgil Jewellers received 2,46,99,281 bids for shares as against 1,68,85,964 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 1.46 times.
The issue opened for bidding on Tuedsady (10 September 2024) and it will close on Thursday (12 September 2024). The price band of the IPO is fixed between Rs 456 to Rs 480 per share. An investor can bid for a minimum of 31 equity shares and in multiples thereof.
The initial public offer (IPO) of Kross received 3,32,06,146 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 2.16 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 3,29,18,490 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 4.40 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 4,01,33,55,786 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 5.52 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Media index jumped 2.69% to 2,107.35. The index fell 1.47% in the past two consecutive trading sessions.
Hathway Cable & Datacom (up 5.14%), Saregama India (up 4.67%), Nazara Technologies (up 4.52%), Zee Entertainment Enterprises (up 4.34%), Tips Industries (up 3.1%), PVR Inox (up 1.65%), TV18 Broadcast (up 1.62%), Network 18 Media & Investments (up 1.13%) and Dish TV India (up 0.86%) advanced.
Stocks in Spotlight:
Hindustan Aeronautics (HAL) rose 0.69%. The companys board has appoved the appointment of D K Sunil, Director (Engineering and R&D) of the company as chairman & managing director with effect from 9 September 2024.
Meanwhile, the Ministry of Defence has signed a contract with the company for supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF), at a cost of over Rs 26,000 crore.
H.G. Infra Engineering zoomed 7.77% after the company announced that it has received the letter of award (LoA) from the Ministry of Road Transport & Highways (MoRTH) for upgrading the existing road in Gujarat.
Awfis Space Solutions advanced 4.67% after the company informed that it has entered into a business transfer agreement (BTA) with SMS integrated facility services for selling facility management business, Awfis Care for Rs 27.5 crore on a slump sale.
Ahluwalia Contracts (India) gained 3.45% after the company announced that it has bagged two contracts worth Rs 1,307 crore from SignatureGlobal for housing projects.
JSW Energy rose 2.02% after the companys wholly owned subsidiary, JSW Neo Energy received a letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up 600 MW Wind-Solar Hybrid Power Project.
SJVN jumped 6.02% after the company announced that it has singed MoU with GMR Upper Karnali Hydro Power and IREDA for development of Upper Karnali Hydro Electric Project (900 MW) in Nepal.
IRB Infrastructure Developers rose 0.89%. The companys toll collection jumped 20.46% to Rs 502.6 crore in August 2024 as against Rs 417.2 crore posted in August 2023.
Dixon Technologies (India) added 1.06% after the companys wholly owned subsidiary, Padget Electronics (Padget) has entered into an MOU with HP India Sales for manufacturing electronic gadgets.
ITI rallied 5.88% after the company informed that it has received an order around Rs 300 crore from Bihar Renewable Energy Development Authority (BREDA) for supply and installation of 1,00,000 numbers of solar street light systems in Bihar.
SEPC surged 6.54% after the company announced that it has been awarded a work order for Rs 182.56 crore by the Executive Engineer, Irrigation Division, Government of Bihar.
Global Markets:
Most European shares declined while most Asian stocks ended higher on Tuesday, as investors eagerly awaited upcoming inflation data for hints on potential interest rate cuts.
China’s exports grew by 8.7% year-on-year in August, while imports increased by 0.5%, according to customs data released on Tuesday. This compares to the previous growth rates of 6.5% for exports and 2% for imports.
While Chinese markets participated in the regional uptrend, they underperformed due to several factors. The recent passage of a U.S. bill imposing fresh restrictions on Chinese biotechnology companies dampened sentiment. Additionally, a series of mixed economic indicators released over the past week weighed on Chinese stocks.
The primary focus this week is on the key US consumer price index inflation data, which is expected to influence the outlook for interest rates.
U.S. stocks rallied on Monday as investors bought the dip, anticipating a potential Federal Reserve rate cut later this month to support the slowing economy. Technology stocks, which were among the hardest hit last week, led the rebound. The Dow Jones Industrial Average surged 1.2%, the S&P 500 gained 1.16%, and the Nasdaq Composite jumped 1.16%.
The US House of Representatives on Monday overwhelmingly passed the BIOSECURE Act by a vote of 306 to 81. This legislation aims to restrict business dealings between US drug companies and certain Chinese biotech firms within an eight-year timeframe. The act specifically targets five Chinese companies: BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics. The US government will now be prohibited from contracting with or providing grants to these companies. The BIOSECURE Act will now proceed to the US Senate for further consideration and potential passage.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex, jumped 361.75 points or 0.44% to 81,921.29. The Nifty 50 index gained 104.70 points or 0.42% to 25,041.10.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index gained 1.53%.
The market breadth was strong. On the BSE, 2,588 shares rose and 1,351 shares fell. A total of 103 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.16% to 13.36.
IPO Update :
The initial public offer (IPO) of P N Gadgil Jewellers received 2,46,99,281 bids for shares as against 1,68,85,964 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 1.46 times.
The issue opened for bidding on Tuedsady (10 September 2024) and it will close on Thursday (12 September 2024). The price band of the IPO is fixed between Rs 456 to Rs 480 per share. An investor can bid for a minimum of 31 equity shares and in multiples thereof.
The initial public offer (IPO) of Kross received 3,32,06,146 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 2.16 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 3,29,18,490 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 4.40 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 4,01,33,55,786 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (10 September 2024). The issue was subscribed 5.52 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Media index jumped 2.69% to 2,107.35. The index fell 1.47% in the past two consecutive trading sessions.
Hathway Cable & Datacom (up 5.14%), Saregama India (up 4.67%), Nazara Technologies (up 4.52%), Zee Entertainment Enterprises (up 4.34%), Tips Industries (up 3.1%), PVR Inox (up 1.65%), TV18 Broadcast (up 1.62%), Network 18 Media & Investments (up 1.13%) and Dish TV India (up 0.86%) advanced.
Stocks in Spotlight:
Hindustan Aeronautics (HAL) rose 0.69%. The companys board has appoved the appointment of D K Sunil, Director (Engineering and R&D) of the company as chairman & managing director with effect from 9 September 2024.
Meanwhile, the Ministry of Defence has signed a contract with the company for supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF), at a cost of over Rs 26,000 crore.
H.G. Infra Engineering zoomed 7.77% after the company announced that it has received the letter of award (LoA) from the Ministry of Road Transport & Highways (MoRTH) for upgrading the existing road in Gujarat.
Awfis Space Solutions advanced 4.67% after the company informed that it has entered into a business transfer agreement (BTA) with SMS integrated facility services for selling facility management business, Awfis Care for Rs 27.5 crore on a slump sale.
Ahluwalia Contracts (India) gained 3.45% after the company announced that it has bagged two contracts worth Rs 1,307 crore from SignatureGlobal for housing projects.
JSW Energy rose 2.02% after the companys wholly owned subsidiary, JSW Neo Energy received a letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up 600 MW Wind-Solar Hybrid Power Project.
SJVN jumped 6.02% after the company announced that it has singed MoU with GMR Upper Karnali Hydro Power and IREDA for development of Upper Karnali Hydro Electric Project (900 MW) in Nepal.
IRB Infrastructure Developers rose 0.89%. The companys toll collection jumped 20.46% to Rs 502.6 crore in August 2024 as against Rs 417.2 crore posted in August 2023.
Dixon Technologies (India) added 1.06% after the companys wholly owned subsidiary, Padget Electronics (Padget) has entered into an MOU with HP India Sales for manufacturing electronic gadgets.
ITI rallied 5.88% after the company informed that it has received an order around Rs 300 crore from Bihar Renewable Energy Development Authority (BREDA) for supply and installation of 1,00,000 numbers of solar street light systems in Bihar.
SEPC surged 6.54% after the company announced that it has been awarded a work order for Rs 182.56 crore by the Executive Engineer, Irrigation Division, Government of Bihar.
Global Markets:
Most European shares declined while most Asian stocks ended higher on Tuesday, as investors eagerly awaited upcoming inflation data for hints on potential interest rate cuts.
China’s exports grew by 8.7% year-on-year in August, while imports increased by 0.5%, according to customs data released on Tuesday. This compares to the previous growth rates of 6.5% for exports and 2% for imports.
While Chinese markets participated in the regional uptrend, they underperformed due to several factors. The recent passage of a U.S. bill imposing fresh restrictions on Chinese biotechnology companies dampened sentiment. Additionally, a series of mixed economic indicators released over the past week weighed on Chinese stocks.
The primary focus this week is on the key US consumer price index inflation data, which is expected to influence the outlook for interest rates.
U.S. stocks rallied on Monday as investors bought the dip, anticipating a potential Federal Reserve rate cut later this month to support the slowing economy. Technology stocks, which were among the hardest hit last week, led the rebound. The Dow Jones Industrial Average surged 1.2%, the S&P 500 gained 1.16%, and the Nasdaq Composite jumped 1.16%.
The US House of Representatives on Monday overwhelmingly passed the BIOSECURE Act by a vote of 306 to 81. This legislation aims to restrict business dealings between US drug companies and certain Chinese biotech firms within an eight-year timeframe. The act specifically targets five Chinese companies: BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics. The US government will now be prohibited from contracting with or providing grants to these companies. The BIOSECURE Act will now proceed to the US Senate for further consideration and potential passage.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
