Mirae Asset Sharekhan

General Motors, Magna, and Wipro have teamed up to develop SDVerse LLC. SDVerse serves as a matchmaking platform between buyers and sellers of embedded automotive software. Positive read through. Source - Sharekhan research

#TOPNEWS Mar 06, 2024 Wipro: The company acquired a 27% stake in B2B sales platform SDVerse LLC for $5.85 million in cash. The transaction will be completed before the end of March. #TOPNEWS

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Global Signals- Hong Kong’s Hang Seng index led losses in Asia, down 2.68%, South Korea’s Kospi slipped 0.94%, Japan’s Nikkei 225 fell marginally by 0.03%. European markets were lower as sentiment struggle ahead of ECB meeting.

3. Westlife Foodworld rose 7.77% to Rs. 793.35, after the company said the Food Safety and Standards Authority of India under the administration of the Ministry of Health and Family Welfare has verified the cheese used by McDonald’s India as ‘100% Real Cheese.

2. IIFL Finance declined 20% to Rs. 478.50, a day after the Reserve Bank of India (RBI) asked the company to stop sanctioning or disbursing gold loans with immediate effect on certain material supervisory concerns.

The broader markets, the BSE MidCap fell by 0.17% and SmallCap was down by 0.63%. The #Sensex fell by 0.26% or 196.16 points to 73,677.13. The #Nifty dipped by 0.22% or 49.30 points to 22,356.30. #Rupee ended flat at 82.89/$ against March 04 close. #Sensex #Nifty #Rupee

Indian indices- Indian equities closed lower but recovered most of their losses on March 04, ahead of Fed Chair testimony and US jobs data due later in the week. Among sectoral indices PSU Banks, Auto was the top performer while IT and Media remained on the list of laggards.