Asia-Pacific markets traded mixed Thursday after Wall Street stock benchmarks notched record highs, shrugging off global political turmoil.Investors are continuing to monitor the political situation in South Korea and France.A tech rally boosted US stocks on Wednesday, with all three major indexes hitting new record closes, as investors digested Federal Reserve Chair Jerome Powell’s comments that US economy is in “remarkably good shape.”Here’s a table showing how US stocks performed on Wednesday:
Data Source: EquitymasterAt present, the BSE Sensex is trading 203 points higher and NSE Nifty is trading 50 points higher.BPCL, Titan, and Infosysare among the top gainers today.NTPC, Bajaj Auto and JSW Steel other hand are among the top losers today.The BSE Midcap index and the BSE Smallcap index are trading 0.3% higher.Sectoral indices are trading mixed today with stocks in the media sector, FMCG sector and IT sector witnessing the most buying. Meanwhile, stocks in the power sector and the realty sector witnessing selling pressure.The rupee is trading at Rs 84.73 against the US dollar.In commodity markets, gold prices are trading 0.1% lower at Rs 76,996 per 10 grams today.
L&T Shares to be in FocusLarsen & Toubro (L&T) shares will be in the spotlight on Thursday following the company’s successful acquisition of a 15% stake in cloud services firm E2E Networks through a preferential allotment.Additionally, L&T plans to acquire a further 6% stake from E2E Networks’ promoters, with the secondary acquisition expected to conclude by 30 May 2025.Last month, L&T said that it would acquire a 21% stake in E2E Networks Ltd, a cloud services company, for Rs 14.1 bn. The move assumes significance as it will increase L&T’s reach in cloud and AI services – the key growth areas in the technology sector.E2E Networks specializes in providing CPU- and GPU-based cloud computing platforms that enable customers to handle large-scale general and AI workloads.The company has strategic partnerships with leading OEMs, including NVIDIA, Intel, AMD, Microsoft, and Dell.
Bharat Forge Launches QIP
Bharat Forge Ltd has approved the launch of its Qualified Institutions Placement (QIP), setting the floor price for the equity issue at Rs 1,323.54 per share.The decision, made by the company’s Investment Committee during a meeting on Wednesday, follows prior approval from the Board of Directors and shareholders via a postal ballot.The floor price has been determined in accordance with the Securities and Exchange Board of India (SEBI) regulations, with the ‘Relevant Date’ for the issue being today, December 4, 2024.Bharat Forge may offer a discount of up to 5% on the floor price, as per the special resolution passed by shareholders on 8 November 2024.Bharat Forge will submit the preliminary placement document to BSE Ltd. and the NSE on Wednesday. The company also announced that its trading window has been closed since September 25 and will remain closed until further notice, specifically for the Qualified Institutions Placement (QIP) process.The company reported revenue and net profit for the September quarter that was below analyst expectations and mostly flat on a year-on-year basis.The company expects the performance in the second half of the current financial year to be stable when compared to the first half, with focus on revenue growth and profitability improvement in its subsidiaries.
Hero MotoCorp Launches VIDA V2Hero MotoCorp, the world’s largest motorcycle and scooter manufacturer, has introduced its new VIDA V2 range of electric scooters in India. The VIDA V2 is aimed at customers seeking eco-friendly and efficient mobility options.The VIDA V2 is offered in three variants: V2 Lite priced at Rs 96,000, V2 Plus at Rs 1,15,000, and V2 Pro at Rs 1,35,000.These prices are effective in Delhi and include current subsidies.As per the company, the scooter’s design is both stylish and functional, featuring a bold and contemporary aesthetic.Two new colour options-Matte Nexus Blue-Grey and Glossy Sports Red-enhance its appeal.At the heart of the VIDA V2 is Hero’s advanced powertrain. It features removable battery packs available in three configurations: 3.94 kWh (V2 Pro), 3.44 kWh (V2 Plus), and 2.2 kWh (V2 Lite).These batteries are IP-67-rated for durability and can be charged at home, reaching 80% capacity in under six hours, claims the electric scooter manufacturer.The scooter comes equipped with advanced features to enhance usability and performance.A 7-inch TFT touchscreen provides access to navigation, telematics, and battery status, while keyless entry and cruise control add to convenience.
IGL to Consider Bonus IssueIndraprastha Gas Limited on Wednesday informed the exchanges that it will hold a board meet to consider a bonus issue of shares.Indraprastha Gas will hold its board meet on 10 December 2024.Record date for any bonus issue if any is yet to be determined.IGL shares currently carry a face value of Rs 2.According to the data available on the BSE, this will be the first instance of the company issuing bonus shares to its shareholders.The company had split one share of Rs 10 into five shares of Rs 2 each back in 2017.Promoters of Indraprastha Gas currently hold 45% stake in the company at the end of the September quarter.More By This Author:Sensex Today Ends 110 Points Higher; Nifty Above 24,450Sensex Today Trades Higher; Nifty Above 24,500Sensex Today Rallies 597 Points; Nifty Above 24,400
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