SGX Nifty hinted at a mildly positive start for Indian domestic indices, BSE Sensex and NSE Nifty.
Indian benchmark indices are likely to open on a negative note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the red at 17,963 level. In the previous session, Sensex closed marginally above 61,000, down 0.52% and the Nifty gave up 17,950. “Lack of major triggers in the domestic market is attracting global cues to dictate the market trend. The US market is facing an unfavorable combination of higher-than-expected inflation and a stronger job market. This suggests that interest rates have not yet peaked and will remain elevated for a long period,” said Vinod Nair, Head of Research, Geojit Financial Services.
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Stocks in focus on 20 February, Monday
Motherson: Samvardhana Motherson Automotive Systems Group (SMRPBV) a subsidiary of Samvardhana Motherson International (SAMIL) has inked an agreement with Faurecia to acquire Germany-based SAS Autosystemtechnik (SAS). The company provides assembly and logistics services for the automotive industry. It has strong customer relationships with leading European and American OEMs, some of which span almost 3 decades.
Sun Pharma: Pharmaceutical company Sun Pharma acquired two healthcare-related companies. The Mumbai-based firm acquired up to 26.09% of Agatsa Software Private Limited, which is an early-stage digital diagnostic devices company, as well as, 27.39% of Remidio Innovative Solutions Private Limited, which provides innovative products enabling early detection of eye diseases.
Hindustan Unilever: HUL announced selling of its Annapurna and Captain Cook brands to Singapore-based Uma Global Foods for Rs 60.4 crore to exit from non-core atta and salt business. It signed an agreement for the sale of its atta and salt business carried out under the brands ‘Annapurna’ and ‘Captain Cook’, respectively, the company said in a statement.
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Lumax Auto Technologies: Lumax Auto Technologies, an automotive systems and components supplier, signed an agreement to acquire a majority stake in IAC International Automotive India Private Limited from the IAC Group. The IAC Group is a leading global supplier of powertrain-agnostic automotive interior and exterior systems and components including instrument panels, cockpits and consoles, door and trim systems, headliner and overhead systems and other interior and exterior components.
Dilip Buildcon: The company has received the letter of acceptance (LOA) from the Madhya Pradesh government. In its joint venture with Skyway Infraprojects, Dilip Buildcon emerged as the lowest bidder for a project worth Rs 1,947 crore from the Madhya Pradesh government.
