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Stock Market LIVE on Monday, July 1: After a dream run last week, Indian bourses are poised to open on a flattish note on Monday tracking mixed global cues. The GIFT Nifty futures, too, indicated a softer opening, quoting just 3 points higher to Nifty 50 futures at 24,135 levels.
Asia-Pacific markets staged a varied show on Monday morning as investors evaluated China’s official June business activity data and Japan’s business confidence readings.
Japan’s Nikkei 225 climbed 0.42 per cent, while the broader Topix index rose by 0.52 per cent. In contrast, South Korea’s Kospi edged down 0.27 per cent, though the Kosdaq, which focuses on small-cap stocks, gained 0.79 per cent.
Australia’s S&P/ASX 200 declined by 0.49 per cent. Meanwhile, Hong Kong markets were closed on Monday for a public holiday.
On Friday, in the US, the S&P 500 declined by 0.41 per cent, while the Nasdaq Composite fell 0.71 per cent. Both indices had reached new all-time intraday highs earlier in the session before retracing. The Dow Jones Industrial Average also dropped, falling by 0.12 per cent.
Stocks to watch:
Godrej Properties: Godrej Properties has acquired leasehold rights for an 11-acre land parcel in Pune. This land offers a potential for development of 2.2 million square feet, with an estimated revenue potential of Rs 1,800 crore.
Zydus Lifesciences: Zydus Lifesciences has entered into a licensing agreement with Dr. Reddy’s Laboratories for co-marketing Pertuzumab biosimilar in India. Pertuzumab is a critical treatment for HER2 positive breast cancer patients.
JSW Energy: JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has been awarded a letter of award for wind-solar hybrid power projects of 300 MW from SJVN. This project is part of setting up 1,500 MW ISTS connected wind-solar hybrid power projects (Hybrid-2).
Bank of Baroda: Bank of Baroda has received a demand order of Rs 1,067.82 crore from the Income Tax Department, related to Assessment Year 2017-18.
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