Indian equity markets are set to begin the trading week on Monday with indications of a subdued opening. At around 7:30 am, GIFT Nifty was trading at 23,974, down 36 points or 0.15%.
Global bond yields and changing expectations around US Federal Reserve interest rates could influence domestic markets. Market experts said elevated crude oil prices and ongoing geopolitical tensions in West Asia remain key risks for investors. Brent crude was trading around $95 per barrel.
Molbio Diagnostics reported an improvement in its financial performance. The company posted a profit of Rs 58.7 crore, compared with a loss of Rs 23.7 crore in the previous period. Revenue increased nearly fourfold to Rs 408.4 crore from Rs 99.7 crore.
JSW Steel’s total crude steel production increased 3% to 24.65 lakh tonnes. Production in India rose 4% to 23.87 lakh tonnes, while production at JSW Steel USA’s Ohio plant declined 11% to 0.78 lakh tonnes.
The US Food and Drug Administration inspected Cohance Lifesciences’ formulation plant in Shamshabad, Telangana. The inspection was conducted from August 27 to September 4, following which the regulator issued Form FDA 483 containing four inspectional observations.
TML CV Holdings B.V., a subsidiary of Tata Motors, announced the launch of a voluntary tender offer to acquire the issued common shares of Iveco Group. The proposed price is 14.1 euros per common share, subject to adjustment for applicable dividends.
Mazagon Dock Shipbuilders received an order worth Rs 118 crore from Maharashtra State Electricity Transmission Company. The order covers the supply, installation and commissioning of an AI-based comprehensive infrastructure security project for five substations.
Rail Vikas Nigam Limited received a Letter of Award worth Rs 903 crore from SJVN Thermal. The work relates to Phase III of the 1,320 MW Buxar Thermal Power Project in Buxar, Bihar. The project involves developing permanent siding and rail connectivity from the plant to Chausa and Pawani Kamarpur.
The board of Prime Focus approved a proposal to raise up to Rs 3,000 crore through equity shares or debt securities.
Lemon Tree Hotels entered into licence agreements for two hotel properties in Bodh Gaya, Bihar. The properties are Lemon Tree Hotel and Keys Select by Lemon Tree Hotels. Both properties will be operated by the company’s subsidiary, Carnation Hotels.
Lupin received USFDA approval for Modafinil Tablets USP in 100 mg and 200 mg strengths. The medicines are bioequivalent versions of Provigil Tablets of Nuvo Pharmaceuticals (Ireland) DAC.
Brigade Group announced the launch of its premium residential project, Brigade Barcelona, in Neopolis, Hyderabad. The project is spread across approximately 4.04 acres and is estimated to generate revenue of more than Rs 2,700 crore for the company.
Urban Enviro Waste Management received an order worth Rs 219 crore from Akola Municipal Corporation. Under the contract, the company will collect municipal solid waste door-to-door for five years and transport it to the designated processing/disposal site at Bhod. The contract includes an option for an additional two-year extension.
Global cues, crude oil prices, the situation in West Asia and bond yields will remain key market indicators during early trading in Indian equities.
