Last updated time: 15 Mar 2023 08:20 IST
Domestic markets are likely to turn positive on Wednesday, snapping a four-day losing streak, as global sentiment improves on the US inflation report. Globally, US markets rose overnight after annual US consumer inflation fell to 6 percent in February. The Dow Jones, the NASDAQ Composite and the S&P 500 rose as much as 2 percent.
Asia-Pacific markets were also in tandem, with the Nikkei 225, Kospi, Kosdaq, Topix and S&P 200 rising up to 2 percent.
Cipla
The drug company has signed an agreement with Africa Capitalworks to sell its 51.1 percent stake in Uganda-based Cipla Quality Chemical Industries (CQCIL). After the sale, CQCIL will cease to be a subsidiary of parent company Cipla. The proposed sale is expected to close in late May.
BANK OF JAMMU AND KASHMIR, LIC
The lender has signed an agreement with LIC to service and claim life insurance products for insurance industry representatives through its branch network.
NBCC
The firm has been awarded a contract for the construction of a government medical college and hospital at Karaikal in Puducherry at a total cost of Rs 500 crore.
Welspoon
The board approved the merger of the firm with its subsidiary Welspun Metallics. The date of this scheme is 1st April.
PNC Infratech
The firm had submitted the lowest bid for the construction of the 35.2 km 6-lane Greenfield Varanasi-Ranchi-Kolkata Expressway in Bihar at a cost of Rs 1,260 crore.
HPCL
The company signed an agreement with Chevron Brands International LLC on the production, distribution and sale of lubricants for a large supermarket. According to management, the partnership consists of licensing, production, distribution and sale of Chevron’s fuel products. READ MORE
Axle bank
Rating agency CRISIL Ratings has affirmed a ‘stable’ rating on the private sector lender’s debt instruments. The overall ratings reflect the bank’s strong capitalization, strong market position and favorable resource profile, the rating agency said.
RailTel Corporation
The company has received a work order of Rs 287.5 crore from the Center for Development of Advanced Computing (C-DAC) for supply, installation, testing, integration and commissioning of IT infrastructure at greenfield data centers in New Delhi and Bengaluru.
LIC
The life insurance company said it has promoted the company’s executive director, Tablesh Pandey, as managing director. Pandey, the current managing director B.S. Replaces Patnaik.
Glenmark Pharma
The US health regulator has approved the pharmaceutical company to sell a generic antibiotic called Clindamycin hydrochloride capsules in strengths of 75 mg, 150 mg and 300 mg.
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