Indian equity benchmarks are likely to open lower on Thursday as global markets came under pressure from a sharp rise in US Treasury yields. GIFT Nifty was trading around 23,300, indicating a cautious start, while the Nifty 50 had closed at 23,446.80 and the Sensex at 74,828.25 on Wednesday.
The US-Iran conflict continues to influence global financial markets, with both sides still divided over how to end the war. Iran has indicated that it remains open to diplomatic efforts, but there has been no immediate agreement on the conditions for resolving the conflict.
India’s private-sector business activity strengthened in September, with the HSBC Flash Composite PMI rising to 56.5 from 54.3 in August. Manufacturing activity improved, while services continued to expand, pointing to stronger business conditions during the month.
Avantel Ltd. has received a purchase order worth Rs.177.35 crore from Zetwerk Manufacturing Businesses Ltd. for the supply of satellite communication equipment.
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Arvind SmartSpaces Ltd. has reported bookings of more than Rs.500 crore within 30 days of launching its Arvind Sylva – The Green Reserve residential project. The bookings represent approximately 60% inventory absorption by value.
Swastika Infra and Adroit Industries (India) have both opened their IPOs on September 23. Swastika Infra is seeking to raise around Rs.160.88 crore, with a price band of Rs.175–185 per share, while Adroit Industries is raising around Rs.150.71 crore with a price band of Rs.126–134 per share.
Gold prices remained relatively steady on Wednesday as investors assessed developments in US-Iran discussions and their potential impact on energy prices and US monetary policy. Bullion was trading around $4,360 an ounce after ending the previous session higher.
Persistent Systems Ltd. has secured an additional 61.15% stake in Germany-based Nagarro SE through its voluntary public takeover offer. Including the stake acquired earlier, Persistent’s aggregate holding has reached 83.25% of Nagarro’s outstanding share capital, excluding treasury shares.
ArMee Infotech has opened its Rs.300 crore IPO for subscription on September 23. The issue will remain open until September 25 and consists entirely of a fresh issue, according to the company’s IPO details.
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