Indian markets traded volatile on Thursday and ended almost unchanged amid favourable cues, according to reports from The Economic Times. Despite the positive signals, analysts note that the Nifty continues to face a lack of momentum on the upside due to resistance posed by key moving averages (100 and 200 DEMA). A decisive close above 24,200 remains critical for bulls to maintain firm control and approach the 200-day EMA near the 24,500 level. The market's inability to sustain gains reflects the ongoing technical challenges facing the benchmark index.
Waaree Energies announced on Sunday that a US investigation did not find that the company had exported solar panels made with Chinese solar cells, as reported by The Economic Times. The probe was limited to a narrow set of historical import entries with no impact on its ongoing US operations. This development removes a potential regulatory overhang and could support the company's growth prospects in the US market.
Strides Pharma Science Ltd announced the divestment of majority stake in its wholly-owned arm Pivot Path for ₹100 crore to a consortium of investors led by Ascent Capital, along with co-investor Vintage, according to The Economic Times. This strategic move represents a significant monetization of the company's subsidiary assets and could provide capital for future growth initiatives.
Former HDFC Bank chairman Atanu Chakraborty has called into question the need for the lender's external legal review into the circumstances surrounding his resignation, as reported by The Economic Times. He described the exercise as unnecessary and maintained that he declined to participate because the bank never shared the scope or legal basis of the investigation. This development adds another layer of complexity to the ongoing leadership transition at one of India's largest private sector banks.
Persistent Systems entered into a long-term strategic services agreement with a global technology leader headquartered in the United States, according to The Economic Times. The agreement is aimed at expanding the company's presence across North America, Europe, and Asia Pacific and encompasses end-to-end operations, management, and support of a portfolio of enterprise Cloud services. The arrangement is expected to strengthen the Company's business capabilities and enable both parties to derive long-term strategic benefits.
