Business News Desk, This week is going to be very important for the Indian market as well. Central banks of many countries including the US will take decisions on interest rates. Gold has once again reached a new record high in anticipation of a rise in the dollar and a rate cut by the Fed. After a spectacular rise on Thursday last week, Nifty and Sensex saw a slight slowdown on Friday. However, there is no major cause for concern for the Indian market at the moment. Nifty now looks comfortable above 25,350.
crude oil price
In the international market, crude oil has seen a rise on a weekly basis last week. Production had to be stopped due to a cyclone in Mexico, but production has started again. For the first time in about a month, crude oil saw some rise on a weekly basis. However, on Friday, Brent crude oil slipped by about half a percent, after which it is now close to $ 71.61 per barrel.
Gold Rate
Due to weakness in the dollar and the expectation of interest rate cuts in the US this week, the price of gold is continuously rising. Late night (Indian time) in the international market, the price of gold had reached $ 2,610 per ounce for some time. Currently it is at $ 2,580 per ounce.
Which stocks will be in focus today
Adani Power: The company has won the bid to supply 6,600 MW bundled renewable and thermal power to Maharashtra on long term basis.
Zydus Life: The company’s unit has signed an exclusive licensing and supply agreement with US-based Viwit Pharmaceuticals. This agreement has been done for Gadobutrol injection and Gadoterate Meglumine injection for the US market. Apart from this, the US FDA has issued a warning letter to Zydus Lifesciences for manufacturing deficiencies in the Gujarat-based plant.
Dixon Technologies: The company has tied up with Asus India for manufacturing IT products. The company’s subsidiary Padget Electronics has tied up with Asus India for manufacturing IT products notebooks.
Exide Industries: Invested ₹100 crore in subsidiary Exide Energy Solutions (EESL). With this investment, the total investment made by the company in Exide Energy Solutions has increased to ₹2,752.24 crore.
LIC: The company has reduced its stake in the pharma sector company Aurobindo Pharma. LIC has reduced its stake in the company from 5.01% to 2.265% through open market sale.
PTC India: PTC Energy, ONGC Green and the company have signed a share purchase agreement. 100% stake in PTC Energy will be sold to ONGGC Green.
Thermax: The company has received another big order from the African country Botswana. This order is worth ₹516 crores under which a 600 MW greenfield energy project is to be set up in Botswana.
HUL: A petition has been filed in the Bombay High Court challenging the tax order of ₹962 crores by income tax officials. HUL had received a tax notice of ₹962 crores over the TDS dispute in the GSK deal.
CDSL: Leading depository Central Depository Services (India) Limited (CDSL) on Friday announced the appointment of Nehal Vora as the new Managing Director (MD) and Chief Executive Officer (CEO) of the company, effective September 18, 2024.
