GIFT Nifty was down 93.5 points or 0.45 percent at 23,373.5 at around 8:40 am on Monday. The index signaled a negative start for the market on June 24. India VIX, a gauge of market volatility, was down 1.24 points or 0.16 percent at 13.18. Ahead of the market opening, here is a look at some stocks to watch.
A man looks at a screen displaying market updates inside the Bombay Stock Exchange (BSE) building in Mumbai. Credit: FILE/REUTERS
The GIFT Nifty was down 93.5 points or 0.45 percent at 23,373.5 around 8:40 am on Monday, suggesting a negative opening for the market on June 24. The India VIX, which gauges market volatility, was down 1.24 points or 0.16 percent at 13.18.
Global data remained weak, with Asian markets opening lower ahead of this week’s inflation data from Australia and Japan. Wall Street closed mixed on Friday despite major indexes posting weekly gains.
Here are some stocks to watch before the market opens.
Biocon: Biocon’s subsidiary Biocon Biologics has received approval from the European Medicines Agency (EMA) to manufacture biosimilar bevacizumab at its new multi-product monoclonal antibody (mAbs) drug substance manufacturing facility in Bengaluru.
GRSE: GRSE has signed contracts with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. for the construction and delivery of four multipurpose vessels of 7,500 DWT each. The contract value is approximately $54 million.
Sun Pharma: Sun Pharma announced results from a Phase 1 obesity trial of GL0034 (utreglutide), a GLP-1 inhibitor, which is in the same class as Ozempic, Novo Nordisk’s Wegovi, and Eli Lilly’s Mounjaro. The drug is still in the very early stages of development. Sales of GLP-1 drugs are expected to reach approximately $50 billion in 2023 and grow to $100 billion by 2029.
ONGC, Indian Oil Corporation: ONGC and Indian Oil Corporation (IOC) have signed a Memorandum of Understanding (MoU) to set up a small scale LNG plant. The deal is aimed at developing the HATTA gas field near the Vindhya Basin.
TVS Motors: The company has partnered with CSC Grameen e-Stores to expand its reach for three-wheeler commercial vehicles. The partnership will enable village-level entrepreneurs from CSC to act as contact points for TVS Motors commercial vehicles.
Find us on YouTube
subscribe
