Stocks to watch today: The Indian benchmark indices were poised for a positive start on Friday, September 4. GIFT Nifty futures were trading 0.41 per cent higher at 24,031 around 7.49 AM. Asian markets mirrored the trend of US markets, which closed higher on Thursday following Fed Governor Christopher Waller's comments on holding rates at the current level if price pressure doesn’t surprise.
Japan’s Nikkei 225 and South Korea’s Kospi were up 0.68 per cent and 1.01 per cent, respectively. In the US market, at Thursday’s close, the Dow Jones Industrial Average and the S&P 500 settled 1.18 per cent and 1.06 per cent higher, respectively. The Nasdaq Composite ended 1.4 per cent higher.
In the Oil markets, Brent and WTI crude futures rose 0.57 per cent and 0.77 per cent at $96.06 and $92, respectively. UltraTech Cement: Aditya Birla Group forayed into the wires and cables market with an investment of ₹1,800 crore. The new business will operate through its cement arm UltraTech Cement, under the Ultravolt brand.
Power Grid Corporation of India: Received a ₹1,152.49 crore Letter of Intent to develop an inter-state transmission system in Gujarat. Max Healthcare: The Board has approved the infusion of an additional amount of around ₹87.87 crore by way of subscription to equity shares on a rights basis in Kalinga Hospital.
Cipla: Its US subsidiary, Invagen Pharmaceuticals, partnered with Qilu Pharmaceutical for the exclusive US licensing and supply of QL2107. Tata Chemicals: Kenyan President William Ruto ordered the ousting of Tata Chemicals and is seeking new investors to take over its century-old mining rights for soda ash-producing minerals.
Bharat Forge: Subsidiary Kalyani Strategic Systems signed an MoU with FN Herstal for local manufacturing of defence systems. Welspun Investments and Commercials: The company’s share price will remain in focus after its board approved infusion of funds of up to ₹1,285 crore into Vishwakarma Realty, a wholly owned subsidiary of the company, Tata Power: Commissioned the 400 kV Jalpura-Khurja transmission corridor in Uttar Pradesh.
Sterlite Technologies: The company has approved a ₹3,000 crore capital expenditure (capex) plan to expand capacity at its existing manufacturing facility. PC Jeweller: Cleared its outstanding debt with another bank under its existing settlement agreement.
IPO Listing On Friday, two mainboard IPOs, ESDS Software Solution and Priority Jewels, alongside two SME IPOs, Paluck Technologies and Complete Sports & Management India, will list on exchanges. Polycab, KEI & others crash up to 8% on de-rating fears