Indian stock markets are likely to be impacted today, as indicated by GIFT Nifty futures, which were trading 57 points below Nifty50 futures at 24,359 on December 18, 2024.
On Tuesday, the markets ended in the red, with the BSE Sensex dropping 1,064 points (1.30%) to close at 80,684.45. The Nifty50 also declined by 332 points (1.35%) to settle at 24,336.
Ambuja Cements, part of the Adani Group, announced the merger of its subsidiaries, Sanghi Industries Ltd (SIL) and Penna Cement Industries Ltd (PCIL). Under the scheme, Ambuja will issue 12 equity shares of ₹2 each for every 100 SIL shares of ₹10 face value. This move aligns with the company’s growth strategy.
LTIMindtree secured an interim stay from the Karnataka High Court in a dispute over tax refunds and zero-rated supply benefits. The case challenges a central tax order, with further hearings pending.
The US FDA inspected Aurobindo Pharma‘s API facility in Telangana, resulting in 2 procedural observations. The inspection took place from December 9-17, 2024.
JSW Energy and LG Energy Solution are close to finalising a $1.5 billion joint venture for EV and renewable energy battery production. LG will provide technology, while JSW will contribute capital.
Piramal Enterprises‘ Administrative Committee will meet on December 20, 2024, to approve a public issuance of non-convertible debentures (NCDs).
Exide Industries invested ₹100 crore in its subsidiary, Exide Energy Solutions Ltd, raising the total infusion to ₹3,152.24 crore. The funds will support a greenfield EV battery project in Bengaluru.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 18, 2024, 8:36 AM IST
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