Stocks in News, December 29: KFin Technologies, Tata Steel, IEX, JSW Energy, Spandana Sphoorty, Ashoka Buildcon

Stocks in News Today, December 29: Asian markets started Thursday's trade lower with Hong Kong’s Hang Seng index falling around 2 per cent, while Japan’s Nikkei 225 dropped 1.33 per cent.

Benchmark Sensex and Nifty closed marginally down in a range-bound trade on Wednesday. Photo credit: Pixabay

Stocks in News Today, December 29: Stock markets are likely to have a negative start on Thursday as SGX Nifty, an early indicator of sentiment on the NSE Nifty50, was down by over 90 points to trade at 18,046.5. Benchmark Sensex and Nifty closed marginally down in a range-bound trade on Wednesday due to profit-taking by investors after two straight days of gains amid mixed global trends and foreign fund outflows.

Meanwhile, Asian markets started Thursday's trade lower with Hong Kong’s Hang Seng index falling around 2 per cent, while Japan’s Nikkei 225 dropped 1.33 per cent. South Korea’s Kospi dipped 1.40 per cent. Wall Street's main indexes closed lower on Wednesday as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023.

The S&P 500 lost 46.03 points, or 1.20 per cent, to end at 3,783.22 points, while the Nasdaq Composite lost 139.94 points, or 1.35 per cent, to 10,213.29. The Dow Jones Industrial Average fell 365.85 points, or 1.10 per cent, to 32,875.71.

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Stocks in News Today, December 29

Tata Steel: The steel major has announced the acquisition of its wholly-owned subsidiary Tata Steel Advanced Materials. It has acquired 1,15,45,667 equity shares leading to an investment of around Rs 14.80 crore.

Indian Energy Exchange: IEX has announced that it is setting up a wholly-owned subsidiary, International Carbon Exchange Private Ltd (ICX). This will the company to explore business opportunities in the voluntary carbon market. The ICX will enable participants to buy and sell voluntary carbon credits at competitive prices through its transparent & reliable platform and facilitate the reduction of global GHG (green house gases) emissions by 45 per cent by 2030 to get on track to limit global warming to 1.5 degrees, an IEX statement said.

JSW Energy: JSW Energy on Wednesday said it has completed the acquisition of 700 MW Ind-Barath Energy (Utkal) for Rs 1,047.60 crore through insolvency proceedings. "Pursuant to the NCLT (National Company Law Tribunal) approval order, the resolution plan has now been implemented and the acquisition of Ind-Barath Energy (Utkal) Ltd is complete. The resolution amount of Rs 1,047.60 crore has been paid," a BSE filing said.

Ashoka Buildcon Ltd: Ashoka Buildcon has bagged projects worth Rs 754.57 crore from Madhya Pradesh PoorvKshetra Vidyut Vitaran Company. The project is for the supply, installation, testing and commissioning of new 11 KV lines.

Spandana Sphoorty Financial: The board of the Hyderabad-based microfinance institution has approved the transfer of its portfolio of distressed loans to an asset reconstruction company for a consideration of Rs 95 crore.

KFin Technologies: Shares of KFin Technologies Ltd are set for stock market debut today. The equity shares of KFin Technologies Limited will be listed and admitted to dealings on the exchange in the list of 'B' group of securities.

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