Stock Market Today: GIFT Nifty indicates a bearish start; L&T Finance, HCL Tech in focus

Stock Market Today

Stock Market Today: GIFT Nifty on the NSE IX fell by 43.5 points, or 0.21 percent, at 20,817, indicating that Dalal Street would have a poor start to the week. Following the Bharatiya Janata Party’s decisive triumph in the recently finished state assembly polls, the Nifty 50 enjoyed a rise of more than 400 points, easily surpassing significant obstacles and forming a lengthy bull candle on the daily charts. Amidst a rebound in the US dollar in foreign markets and dollar purchases by lenders, the rupee gave up some of its early gains and ended the day 5 paise weaker at 83.38 against the US dollar on Monday.

Stock Market Today: Stocks in focus

L&T Finance

The completion of the merger between its subsidiaries, L&T Finance (LTF), L&T Infra Credit (LTICL), and L&T Mutual Fund Trustee, has been announced by L&T Finance Holdings (LTFH). After this, LTFH—the equity listed operating lending entity—will house all of the lending operations under one roof. Under the L&T financial brand, L&T Finance Holdings is a non-banking financial company that provides a variety of goods and services.

JSW Infrastructure

JSW Infrastructure said that PNP Maritime will be acquired by its subsidiary from SP Port Maintenance for a sum of Rs 270 crore. A share purchase agreement was signed by JSW Dharamtar Port, a division of JSW Infrastructure, to purchase 50 percent plus one of PNP Maritime from SP Port Maintenance. In the Maharashtra district of Raigad, at Shahabad, PNP Port runs multipurpose jetties.

HCL Technologies

The company and its joint venture partner, State Street, have signed a Memorandum of Understanding for the firm to sell all of its shares in the UK joint venture. HCL UK is now negotiating the terms under which State Street can exercise its call option in the JV and purchase HCL UK’s whole 49% equity stake in the business operations services JV, which was established in 2012.

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