Stock Market Today: With a gain of 41.50 points, or 0.19 percent, at 22,193, GIFT Nifty on the NSE IX indicated that Dalal Street was off to a good start on Friday. Following increases in US tech sectors, Japan’s main Nikkei index began higher on Friday.The Topix index gained 0.37 percent, or 9.92 points, to 2,685.65, while the benchmark Nikkei 225 index increased 0.39 percent, or 150.93 points, to 39,317.12 in early trading. With the yen retreating below the crucial threshold of 150 per dollar, the dollar stayed stable on Friday as statistics indicated that U.S. inflation remained high but was steadily declining, maintaining the possibility of a rate decrease by the Federal Reserve in June.
Stock Market Today: Stocks in focus
ICICI Bank
For almost Rs 431 crore, the private sector lender has acquired an extra 25,14,365 equity shares of ICICI Lombard General Insurance. As a result, the bank now owns ICICI Lombard as a subsidiary. For Rs 1,356 crore, it purchased 80,98,658 equity shares in ICICI Lombard on February 27.
Biocon
The supply of rh-Insulin (rhI) medicinal material to a client for veterinary use was the subject of a February 20–28 inspection by the US Food and medicinal Administration (FDA) at Biocon Biologics’ Biocon Campus (Site 1) facility. The US FDA released Form 483 with four observations following the examination. The company is dedicated to promptly addressing these issues and will provide the US FDA with a thorough Corrective and Preventive Action (CAPA) plan within the allotted timeframe. The production and distribution of the business’s commercial goods in the US market are unaffected by the findings of this inspection at site 1.
Godrej Industries
The corporation now owns 89.48 percent of the subsidiary Godrej Capital, up from 87.23 percent in the past. From June 2023 to February 2024, it purchased the aforementioned 2.25 percent ownership. Godrej Capital is a central investment firm that owns stock in both Godrej Finance and Godrej Housing Finance.
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