Coforge Shares In Focus On Mega $2.35 Billion Encora Acquisition Plan
Coforge Ltd. shares are set to be in focus on Monday after the mid-tier IT services company announced its largest-ever acquisition — the purchase of US-based artificial intelligence and digital engineering firm Encora for an enterprise value of $2.35 billion, or around Rs 21,138 crore.
The deal will be funded entirely through a combination of a share swap and an equity raise, marking a bold strategic bet by Coforge to reposition itself as an AI-led technology services player rather than a traditional outsourcing firm.
Stock Picks Today: Coforge, Titan, Stylam Industries And More On Brokerages’ Radar
A host of global and domestic brokerages have released fresh views on Coforge Ltd., Titan Ltd., Stylam Industries Ltd., Welspun Living, and more ahead of Monday’s session.
They have also shared their outlook on the textile, automobile and auto component sectors, alongside broader cross-sector trends.
Read more here.
Stock Market Live Updates: Silver Check
Silver retreated sharply after smashing through $80 an ounce for the first time, with traders taking profits from a record-breaking rally powered by a structural imbalance in supply and demand.
The white metal fell as much as 5% on Monday, after earlier spiking to a record $84 an ounce following five straight days of gains. A weaker dollar and escalating geopolitical tensions have added to the appeal of precious metals during an end-of-year jump to all-time highs for silver, gold and platinum.
Source: Bloomberg
Nifty Today: What F&O Cues Indicate
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Nifty December futures down by 0.44% to 26,058 at a premium of 16 points.
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Nifty December futures open interest down by 17.6%.
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Nifty Options on Dec 30: Maximum Call open interest at 26,200 and Maximum Put open interest at 26,000.
Dollar Check
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The US Dollar index is down 0.06% at 97.640.
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Euro was up 0.10% at 1.1785.
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Pound was up 0.07% at 1.3509.
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Yen was down 0.19% at 156.28.
Stock Market News Live: Global Check
A broad measure of Asian equities edged up 0.2% in early trade, while US stock futures held steady after the S&P 500 closed just shy of a record high on Friday.
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S&P 500 futures were little changed as of 9:32 a.m. Tokyo time
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Japan’s Topix rose 0.1%
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Australia’s S&P/ASX 200 fell 0.1%
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Euro Stoxx 50 futures rose 0.3%
Stock Market Live Updates: GIFT Nifty Indicates Flat Open
Good morning readers.
The GIFT Nifty was trading near 26,100 early on Monday as Nifty likely to once again face the 26,200 hurdle.
The futures contract based on the benchmark Nifty 50 rose 0.11% at 26,102 as of 6:51 a.m. indicating a positive start for the Indian markets.
In the previous session on Friday, the benchmark ended lower. The NSE Nifty 50 ended 99.80 points or 0.38% lower at 26,042.30, while the BSE Sensex closed 367.25 points or 0.43% lower at 85,041.45.
. Read more on Markets by NDTV Profit.