🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Infosys: The IT giant has signed definitive agreements to acquire US-based Optimum Healthcare IT for $465 million and Stratus Global for $95 million. These deals are intended to strengthen its footprint in the healthcare and insurance digital transformation segments.
• Avenue Supermarts (DMart): The retail chain reached a new milestone of 470 stores after launching three new outlets across Telangana, Andhra Pradesh, and Tamil Nadu over the last 48 hours.
• Samvardhana Motherson: The company has entered into a Joint Venture Agreement with Hellmann to provide integrated logistics solutions for the automotive industry globally. The stock also trades ex-dividend today.
• Jindal Stainless: The company’s total melting capacity has increased to 4.2 MTPA following the operationalization of its Indonesian unit. It has also earmarked ₹900 crore for cold rolling capacity expansion in India.
• NTPC Green Energy: The company has partnered with Nxtra Data to provide renewable energy solutions for data centers, aligning with its long-term green energy transition goals.
• Swiggy: The food delivery major has announced a hike in its platform fee, a move expected to improve take rates and overall margins.
• Ola Electric: The company launched new promotional offers and service guarantees to boost demand amidst rising competition in the EV two-wheeler space.

Neutral Developments

• Ex-Dividend Stocks: Several heavyweights will trade ex-dividend today, including Vedanta (₹11/share), Angel One (₹1.75/share), HUDCO (₹1.25/share), and Euro Pratik Sales (₹0.20/share). Price adjustments are expected at the opening bell.
• Reliance Industries: The conglomerate has officially rejected recent media reports alleging the purchase of crude oil of Iranian origin, clarifying its compliance with global trade norms.
• Corporate Actions: Hind Rectifiers will trade ex-date for its bonus issue, while Avax Apparels will trade ex-date for a stock split today.
• Welspun Corp: The company completed an internal reorganization by transferring a 22% stake in its subsidiary EPIC between wholly-owned units for approximately ₹22.05 billion.

Negative News

• Life Insurance Corporation (LIC): The state-run insurer has received an income tax demand notice along with interest for the financial year 2021-22, which may impact its short-term financial provisions.
• Market Sentiment: The GIFT Nifty indicates a gap-down start for the Nifty 50, tracking sharp losses in the US markets where the NASDAQ fell over 2% on Thursday due to renewed geopolitical concerns and interest rate jitters.
• Global Cues: Geopolitical tensions in the Middle East remain elevated as Iran reportedly rejected a ceasefire proposal, leading to increased volatility in global energy and equity markets.

TAGS: Stocks in News, Stock Market, Buzzing Stocks, Nifty, Sensex

Tags: Stocks in News Stock Market Buzzing Stocks Nifty Sensex