Bhopal Metro Project Secured
- 16th December 2024
Aaj Ka Bazaar
Stock markets in India are expected to remain cautious amid mixed global cues, as investors await the US Federal Reserve’s policy rate decision later this week. Most Asian indices, including Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s Kospi, traded with little change, while Australia’s ASX 200 saw a decline. In the US on Friday, the S&P 500 closed flat, the Dow Jones fell, and the Nasdaq Composite saw a modest rise. In stock-specific news, HBL Power will be in focus after securing a significant order from Chittaranjan Locomotive Works for the supply, installation, and commissioning of on-board train collision avoidance systems in 2,200 locomotives.
Markets Around Us
BSE Sensex –81,982.79 (-0.40%)
Nifty 50 – 24,726.55 (-0.22%)
Bank Nifty – 53,430.60 (-0.29%)
Dow Jones – 43,824.30 (-0.10%)
Nasdaq – 19,923.52 (0.10%)
FTSE – 8,300.33 (-0.14%)
Nikkei 225 – 39,380.86 (-0.23%)
Hang Seng – 19,877.50 (-0.47%)
Sector: Constructions
Afcons Wins ₹1006.74 Crore Project
Afcons Infrastructure shares are in focus after securing a ₹1,006.74 crore project for the Bhopal Metro Rail. The project involves constructing elevated viaducts and 13 metro stations, connecting Bhadbhada Chauraha to Ratnagiri Tiraha. Afcons is to complete the project within 36 months. Recently, the company also emerged as the lowest bidder for a ₹503.86 crore water supply project in Rajasthan and achieved significant milestones, such as completing a major tunneling drive for Delhi Metro Phase IV. These developments showcase Afcons’ strong project pipeline and infrastructure expertise.
Why it Matters:
This project win strengthens Afcons Infrastructure’s presence in India’s infrastructure sector and supports urban development through metro rail connectivity. The company’s recent achievements, including tunneling for Delhi Metro, highlight its expertise in large-scale projects. These milestones could positively influence investor confidence and share performance.
NIFTY 50 GAINERS
ITC – 473.85 (0.82%)
LT – 3907.25 (0.52%)
CIPLA – 1453.75 (0.45%)
NIFTY 50 LOSERS
BPCL – 298.75 (-0.98%)
JSWSTEEL – 992.00 (-0.79%)
TECHM – 1785.00 (-0.63%)
Sector: Pharmaceuticals
Wochardt Surges as Zaynich Aids Transplant
Wockhardt’s investigational antibiotic Zaynich, undergoing Phase III trials, has facilitated a successful liver transplant in the U.S. by clearing a chronic bile duct infection caused by dual drug-resistant pathogens. The FDA-approved compassionate use of Zaynich has already benefited 45 patients with life-threatening Gram-negative infections. Zaynich, part of the novel β-lactam enhancers class, is also under evaluation for treating urinary tract infections. Earlier in 2024, it demonstrated a 100% clinical cure rate in critically ill patients with severe infections, including pneumonia, bloodstream infections, and intra-abdominal sepsis. Shares surged 10% on this development.
Why it Matters:
Wockhardt’s Zaynich shows promise in tackling extreme drug-resistant infections, marking a breakthrough in global antibiotic development. Its compassionate use has enabled life-saving treatments, including facilitating a liver transplant in the U.S., boosting confidence in its efficacy. This positions Wockhardt as a leader in combating critical Gram-negative infections.
Around the World
Asian stocks fell on Monday as markets awaited the U.S. Federal Reserve’s interest rate decision, with a 25 basis points cut expected. Chinese shares dropped after retail sales data fell short of expectations, highlighting weak consumer demand despite recent stimulus. Japan’s markets were stable ahead of the Bank of Japan’s meeting, where no rate changes are anticipated. South Korea’s KOSPI stayed flat following political upheaval. Australian and Indonesian markets declined, while India’s Nifty 50 and Malaysia’s KLCI showed slight gains, reflecting mixed regional performance amid global caution.
Option Traders Corner
Max Pain
Nifty 50 – 24,650
Bank Nifty – 53,300
Nifty 50 – 24,580 (Pivot)
Support – 24,368, 23,968, 23,757
Resistance – 24,980, 25,191, 25,591
Bank Nifty – 53,167 (Pivot)
Support – 52,680, 51,778, 51,291
Resistance – 54,070, 54,556, 55,459
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