TATA Power has set up over 450 charging facilities 350 national highways

Opening Bell:

SGX Nifty is up by 120.5 points in the early morning trade, indicating a positive opening for the Indian stock market.

Within Asian indices, Japanese Nikkei is up by 2.0 percent, Hong Kong’s Hang Seng is down by 0.2 percent and Chinese Shanghai is trading flat at around with 0.1 percent gain.

In the US markets, Wall Street snapped seven days decline and finished in positive territory on Wednesday. Dow Jones surged 1.40 per cent, Nasdaq shot up 2.14 per cent, S&P 500 went up 1.83 per cent.

European and Asian equities came under pressure on Wednesday after worse than expected Chinese exports data added to concerns over the health of the global economy. China’s exports and imports lost momentum in August as surging inflation crippled overseas demand and new Covid curbs and heatwaves disrupted output, reviving downside risks for the shaky economy.

Stocks News:

?Interglobe Aviation co founder Rakesh Gangwal and his family are looking to sell a 2.8 per cent stake in the budget carrier, through a block deal. As part of the deal, about 10.8 million shares belonging to the Gangwal family have been listed for sale for Rs 1,996 crore.

?TATA Power said it has set up over 450 charging facilities across more than 350 national highways, including one at the longest highway (NH 44) and another at the busiest highway (NH 19). This is in line with the company’s nationwide plan of setting up charging points from north to south and from east to west.

?The National Company Law Tribunal has directed Zee Entertainment to convene a meeting of its shareholders to get approval for its proposed merger with Culver Max Entertainment (Sony)

?Aditya Birla Fashion and Retail said that market regulator SEBI has granted it exemption over lisiting of shares worth Rs 2,195 crore alloted to Caladium Investment Pte, a foreign portfolio investor.

?Bank of Maharashtra said it has raised Rs 710 crore from bonds to fund business growth. The fund raised via Basel III compliant Additional Tier 1 (AT1) bonds of Rs 710 crore at a coupon rate of 8.74 per cent. The issue garnered subscription of 10 times against base issue size of Rs 100 crore.

?Foreign institutional investors (FIIs) have net-bought shares worth Rs 758.37 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 138.67 crore on September 7, as per provisional data available on the NSE.

Domestic and International Events

• Oil prices settled sharply lower on Wednesday, slumping below levels seen prior to Russia’s invasion of Ukraine as downbeat Chinese trade data fed investor worries about recession risks.
• India’s August fuel consumption was little changed from the previous month, government data released on Wednesday showed, even as diesel demand dropped to the lowest this year during monsoon season in the world’s No. 3 oil consumer.
• Japan’s economy grew more than initially reported in the second quarter, as the lifting of local Covid-19 restrictions boosted consumer and business spending.
• The European Central Bank will raise interest rates again on Thursday to fight runaway inflation and, with a big move and a record one under consideration, the only question is by how much. The choice will be between a 50 and a 75 basis point increase in the zero percent deposit rate.

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