Stock Market Today: GIFT Nifty on the NSE IX fell nine points, or 0.04 percent, to 21,770, indicating that Dalal Street would likely have a quiet start to the week. On the daily chart, the Nifty finished Thursday 141 points higher, forming an Inside Bar candle. The index recovered quickly after two days of bearish trading, indicating that bulls are still in control of the market. Analysts said that the current mood points to a positive trajectory for the Nifty, which is expected to reach 21,800–21,850. With the support of a bullish trend in domestic equities and the US dollar’s weakness in the foreign exchange market, the rupee strengthened 6 paise to close at 83.24 against the US dollar on Thursday.
Stock Market Today: Stocks in focus
Dabur India
Domestic FMCG giant Dabur India stated in a business update that demand trends showed “sequential improvement” in the December quarter, despite the fact that rural growth was still trailing urban growth. Revenue growth in the “mid to high single-digit range during Q3 FY24” is anticipated by the company. In constant currency terms, international business is predicted to grow by double digits, driven primarily by strong momentum in the MENA region.
State Bank of India
The biggest lender in the nation has declared the successful closing of the $250 million senior unsecured Green floating rate notes, also known as “The Green Notes.” This issuance, which has a maturity date of December 29, 2028, was made possible by a private placement arranged by SBI’s London branch and is a part of its $10 billion medium-term note programme. The Green Notes, which have an S&P rating of BBB-, were listed on the India International Exchange and were issued with a floating rate of 1.20% above SOFR.
Lupin
The US FDA has tentatively approved the pharmaceutical giant’s shortened new drug application for 5 mg/5 mg and 10 mg/5 mg strengths of Saxagliptin and Dapagliflozin tablets. For adults with type 2 diabetes, dapagliflozin and saxagliptin tablets are recommended as supplements to diet and exercise in order to improve glycemic control.
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