Stock Market Today: With the GIFT Nifty on the NSE IX down by 5 points and reached at nearly 22,148.50, Dalal Street was likely to have a quiet start. For the third straight session, Indian benchmark market indices finished substantially lower, mostly due to a decline in IT firms. Expectations of a possible postponement of US interest rate reductions added to investor anxiety, as did continuous worry about geopolitical unrest in the Middle East( Iran and Israel conflict). The S&P BSE Sensex ended the day 0.62% lower at 72,943 points, while the NSE Nifty 50 fell by 0.56% to conclude at 22,148 points. Due to a variety of news events, the focus of today’s trading session will be on stocks like Infosys, HDFC Life, Bajaj Auto, Angel One, Tata Communications and others.
Stock Market Today: Stocks in focus
Adani Enterprises
The incorporation of a joint venture company, King Power Ospree Pte (KPO), for retail and wholesale business with KING Power International Pte, Singapore, has been completed by Mumbai Travel Retail, a step-down subsidiary of Adani Enterprises. KPO’s share capital would be owned 50% by Mumbai Travel Retail.
Biocon
For the purpose of commercialising its vertically integrated therapeutic product, semaglutide (gOzempic), the biopharmaceutical business has entered into an exclusive licencing and supply arrangement with Biomm SA, a specialist pharmaceutical company in Brazil. The medication helps patients with type 2 diabetes better control their blood sugar levels.
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