The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 17,473.50, down 144.5 points or 0.82% from the previous close.
“The domestic market could hardly hold on to its previous gains as the Fed chair’s reaffirmation of his hawkish statement brought in more worries. In this backdrop, the upcoming US job data will have a substantial impact on the Fed’s policy decisions in its upcoming FOMC meeting. A stronger-than-expected jobs report will prompt the Fed to raise interest rates by 50 bps,” said Vinod Nair, Head of Research, Geojit Financial Services.
Reliance Industries
Reliance Industries group’s FMCG unit announced the relaunch of Campa Cola, alongwith two other flavors, almost 23 years after the soft drink brand stopped selling in India. Reliance Industries had acquired the Campa business earlier last year for Rs 22 crore. Campa is being launched by Reliance Retail Ventures’s FMCG arm and wholly-owned subsidiary, Reliance Consumer Products. Reliance Polyester, also completed the acquisition of the polyester business of Shubhalakshmi Polyesters and Shubhlaxmi Polytex.
Tata Motors
Tata Technologies, a subsidiary of Tata Motors, filed a DRHP with Sebi on Thursday for an IPO by the way of an offer for sale (OFS) for sale of up to 95,708,984 equity shares, representing approximately 23.60% of its paid-up share capital.
Bank Of Baroda
The lender’s board of directors approved the bank’s divestment plan of shedding up to a 49% stake in its wholly owned subsidiary, BOB Financial Solutions. BOB Financial Service’s is the lender’s credit card arm, which offers consumer & commercial credit cards and caters to all segments of customers with varied needs.
Ujjivan Small Finance Bank
NSE and BSE provided their observation letters for the scheme of amalgamation between Ujjivan Financial Services and Ujjivan Small Finance Bank. This will allow the lender to further file their scheme with the NCLT.
Wipro
Wipro announced that it has been selected by Menzies Aviation, the world’s largest aviation services company, to transform its air cargo management services. Omkar Nisal, Managing Director UK & Ireland, Wipro, said, “Wipro is delighted to partner with Menzies Aviation, a global powerhouse in aviation services. This collaboration enables us to leverage Wipro’s extensive technological capabilities coupled with Menzies’ vast cargo-handling and management experience to deliver a product that will help revolutionize the air-cargo industry.”
Hindustan Aeronautics
Hindustan Aeronautics board will meet today to consider and approve interim dividend.
Zydus Lifesciences
Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) for Erythromycin tablets.
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