US stocks closed lower on Friday as investors wrestled with fiscal stimulus developments, concerns over a lengthy rollout of vaccines, and a growing number of state-level shutdowns to combat the spiraling COVID-19 pandemic.
The Dow Jones Industrial Average fell 219.95 points, or 0.75%, to 29,263.28, the S&P 500 lost 24.22 points, or 0.68%, to 3,557.65 and the Nasdaq Composite dropped 49.74 points, or 0.42%, to 11,854.97.
🎯 News & Impact 🎯
🎯 Doors could be finally open to large business houses to launch banks.
Positive for the market.
🎯 Finance Commission likely to recommend doubling of public health expenditure by FY24.
Positive for the sector stocks.
🎯 PNB :
RBI imposes over Rs 5.78 crore fine on six entities including PNB, Sodexo, PhonePe.
🎯 BEML : Wins orders worth Rs 501 crore from the DMRC for additional 12 trainsets of six cars each to operate on line 2B and 7 of the Mumbai Metro project.
🎯 Reliance Industries : CCI has approved acquisition of retail, wholesale, logistics and warehousing businesses of the Future Group by Reliance Retail Ventures and Reliance Retail and Fashion Lifestyle.
🎯 Bharti Airtel : Enters into an agreement to acquire stake in Avaada MHBuldhana Pvt. Ltd. - a Special Purpose Vehicle formed for the purpose of owning and operating the Captive Power Plants. The company will acquire 5.2% stake for an overall consideration of Rs 4.55 crore.
🎯 Petronet LNG : Signs on-binding MoU with the Ministry of Petroleum & Natural Gas with an objective to foray into 'Green Energy and Bio Fuels' and for setting up of compressed Bio Gas plants under Sustainable Alternative Towards Affordable Transportation (SATAT) initiative of the Government of India.
🎯 Hatsun Agro : The Industries and Commerce ministry of the Government of Telangana has agreed to provide various subsidies for an amount not exceeding Rs 25 crores to the company for setting up an Ice Cream plant in Govindapur.
🎯 Fineotex Chemicals : Completes the acquisition of a 4 acre plant in Ambernath in Maharashtra.
🎯 Lemon Tree Hotels : Opens 61-room hotel in Jhansi.
🎯 Bharat Dynamics : First heavy weight Torpedo - Varunastra was delivered to the Indian Navy. The company is also the production agency for the Astra air-to-air missile system and has commenced manufacturing of these missiles.
🎯 Zee Media : Promoter ARM Infra & Utilities reduced stake to 9.06% from 11.71% on November 18.
🎯 SREI Infra Finance : RBI has appointed auditor to conduct special audit into the books of of the company and it’s arm SREI Equipment Finance.
🎯 Tube Investment : CG Power, Tube Investments and lenders of CG Power have executed the requisite binding agreements for one-time settlement and restructuring of funded facilities and guaranteed debt of CG Power.
🔹Punjab & Sind Bank: Board approves offering, issuing, creating and allotting equity shares of up to Rs 5,500 crore to the Government of India on a preferential basis.
🎯 Fortis Healthcare : SEBI issues showcause notice to the company with respect to the matter relating to alleged diversion of funds from the company by its erstwhile promoters.
🎯 Astron Paper and Board Mill : Promoter Asian Granito released pledge of 10 lakh shares on November 19.
🎯 Sun Pharma : Promoter Shanghvi Finance created pledge of 41 lakh shares on November 12.
🎯 Uflex : Promoter Flex International released pledge of 1.75 lakh shares on November 19.
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