Give away Nifty live: Indian equity benchmarks are expected to open higher, as indicated by Gift Nifty futures traded at Gift City in Gandhinagar. Gift Nifty rose 71 points or 0.28 per cent to 25,255 amid strong cues from other Asian markets.
Asian stocks rose and the dollar hit a new seven-week high against the yen on Monday after spectacular U.S. jobs data allayed fears of a recession and spurred a sharp reduction in bets on rate cuts.
Short-term U.S. Treasury yields rose after Friday’s closely watched nonfarm payrolls report showed the economy unexpectedly added the most jobs in six months in September.
Crude oil prices fell from a one-month high even as Israel bombed targets in Lebanon and the Gaza Strip, and Monday marked one year since the Hamas attack that sparked the war.
Japan Nikkei led gains in regional stocks with a 2 percent rally given the additional boost generated by the weak yen.
Australia’s stock benchmark added 0.12 percent and South Korea’s Kospi gained 0.29 percent.
Hong Kong’s Hang Seng had not yet opened, and mainland Chinese stocks will remain closed until Tuesday for the Golden Week holiday.
At home, foreign institutional investors sold shares worth Rs 9,897 crore on Friday, while domestic institutional investors bought shares worth Rs 8,905 crore, provisional data from the National Stock Exchange showed.
Actions to take into account
Apollo Tires: Life Insurance Corporation of India (LIC) has increased its stake in Apollo Tires from 4.983 per cent to 5.030 per cent. LIC acquired 3 lakh shares (0.047 per cent stake) through open market transactions on October 3.
Akzo Nobel India: Akzo Nobel NV, the Netherlands-based parent company, has announced a strategic review of its portfolio to reallocate capital towards the expansion of its core coatings business, particularly focusing on its decorative paints segment in South Asia.
Iconic cars: The company has received a letter of intent from Mercedes-Benz India for a dealership in Patna, targeting high-growth markets in Bihar and Jharkhand, offering sales and after-sales services for Mercedes-Benz vehicles.
Adani Energy Solutions: The company has set up a new subsidiary, Adani Energy Solutions Global, to explore transmission project opportunities outside India, marking its expansion into international markets.
GAIL India: The company has signed an MoU with AM Green to jointly develop renewable energy projects of up to 2.5 GW, along with green chemicals initiatives. The partnership aims to secure long-term carbon dioxide (CO2) supply for eMethanol production and explore hybrid renewable energy projects across India.
Lupine: The US FDA has issued five observations to Lupine’s biotech facility in Pune after conducting an inspection from September 25 to October 4. This follows the facility’s pre-approval inspection process.
BLS International Services: The company acquired a 100 per cent stake in Dubai-based Citizenship Invest for $31 million (approximately Rs 260 crore). The acquisition strengthens its portfolio with fast-track investment programs for residency and citizenship in more than 15 countries.
Jio Financial Services: SEBI has granted in-principle approval for the company and BlackRock Financial Management Inc. to serve as co-sponsors in the establishment of a new mutual fund. This approval lays the foundation for a major initiative in the Indian financial sector.
One 97 Communications (Paytm): Manmeet Singh Dhody resigned as CTO – Payments effective October 4 and moved to a new role as a member of IA. Deependra Singh Rathore has been appointed as the new CTO of Payments, effective October 4, after previously working as Senior Vice President of Technology at Paytm.
Gravitate India: The board approved raising up to Rs 1,000 crore through equity. Additionally, Sunil Kansal has been appointed as permanent director and Rajat Agrawal has been redesignated as chairman and managing director. Mahavir Prasad Agarwal resigned as Chairman and Permanent Director with effect from October 5.
Bank of Maharashtra: The lender closed its QIP issuance on October 4, allocating Rs 61.01 crore worth of shares to eligible institutional buyers at Rs 57.36 per share, raising a total of Rs 3,500 crore. Investors include LIC, ICICI Prudential Life Insurance and Aditya Birla Sun Life Insurance.
CG Industrial and Energy Solutions: CG Power has signed an asset purchase agreement with Renesas Electronics Corporation to acquire its radio frequency components business for $36 million, marking its entry into the semiconductor design sector.
(With contributions from Reuters)
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