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Dixon Technologies has transferred its entire stake in DTSPL in exchange for an 8.75% equity stake in its joint venture (JV) company.

The company has signed a business transfer agreement with the JV to shift its lighting business through a slump sale.

Meanwhile, Signify has invested ₹140.3 crore in the JV for a 49.12% stake and has also transferred its Vadodara-based LED business.

Dixon Technologies has transferred its entire stake in DTSPL in exchange for an 8.75% equity stake in its joint venture (JV) company.

The company has signed a business transfer agreement with the JV to shift its lighting business through a slump sale.

Meanwhile, Signify has invested ₹140.3 crore in the JV for a 49.12% stake and has also transferred its Vadodara-based LED business.

THURSDAY CUES

DII Net Buy 1,223.55  Cr in Cash mkt

FII Net Sell 1,858.15 Cr in Cash mkt

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Wipro, Axis Bank, LTIMindtree Ltd, Jio Financial Services, 360 ONE WAM, Indian Hotels, Polycab, Waaree Renewable

Mutual Funds trimmed their holdings in companies such as PFC, HUDCO, SBI, and private sector names like TCS and JSW Infra in June, according to Nuvama Alternative & Quantitative Research data.

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Big Bank earnings may be over in the US, but they begin in India now, with Axis Bank kickstarting proceedings later this evening. Wipro and Jio Financial Services are some other Nifty 50 index names reporting today.

Brent rose toward $69 a barrel after shedding more than 2% over the previous three sessions, while West Texas Intermediate was near $67. US government data released on Wednesday was mixed, with a climb in distillate inventories but a drop in nationwide crude holdings.

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Shares in Japan and South Korea declined while MSCI’s broader gauge of Asian equities was flat. A gauge of the dollar edged up 0.1% after weakening in the prior session. Treasuries dipped marginally with yields on the 10-year rising almost 1 basis point to 4.46%.

 #CNBCTV18Market | #GIFTNifty higher, trading at a premium of more than 20 pts from Nifty Fut Wednesday’s close, indicates a start in the green for the Indian market pic.twitter.com/ZF7nPvmvjU

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US President Donald Trump said he would send letters to more than 150 countries notifying them of tariff rates and that the levies imposed could be 10% or 15% as he forges ahead with his trade agenda.

“We’ll have well, over 150 countries that we’re just going to send a notice of payment out, and the notice of payment is going to say what the tariff” rate will be, Trump told reporters on Wednesday at the White House.

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