The yen strengthened Friday after Tokyo inflation data exceeded estimates ahead of the Bank of Japan's meeting next month. Equities in Japan and Australia fell, while US equity futures edged higher.

US stock markets remained closed on Thursday in observance of the Thanksgiving

However, here's a table showing how US stocks performed on Wednesday:

Source: Equitymaster

At present, the BSE Sensex is trading 270 points higher and NSE Nifty is trading 76 points higher.

Sun Pharma, Cipla, and Adani Ports are among the top gainers today.

Infosys, Tech Mahindra and TCS other hand are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading flat.

Sectoral indices are trading mixed today with stocks in the energy sector and the oil & gas sector witnessing most buying.

Meanwhile, stocks in the metal sector and the IT sector witnessing selling pressure.

The rupee is trading at Rs 84.49 against the US dollar.

In commodity markets, gold prices are trading 0.6% higher at Rs 77,041 per 10 grams today.
 

Sun Pharma Officials Fined

Sun Pharmaceutical Industries Ltd on Thursday said the Ministry of Corporate Affairs has levied penalties on certain past and present directors and officials, including CMD Dilip Shanghvi, for non-disclosure and not obtaining approval of its board and shareholders for certain related party transactions.

The company has received an order from the Regional Director, North Western Region, Ministry of Corporate Affairs, for alleged violations of certain provisions of the Companies Act, 2013.

This matter pertains to the earlier investigation carried out by SEBI, in which a settlement was reached with the markets regulator in February 2021 without admission or denial of guilt; however, on the same matter, the Ministry of Corporate Affairs also initiated an investigation in parallel in 2019.

These additional orders pertain to the application of compounding of offenses for alleged violation under Section 129 and Section 188 for non-disclosure of certain transactions with related parties in the board's report and financial statements for the financial years ranging from 2015-16 to 2018-19.
 

PC Jeweller Sets Record Date

The board of directors of PC Jeweller has announced a 1:10 stock split, making its shares more accessible to retail investors.

The company, which has delivered strong performance over time, set 16 December 2024 as the record date for the split.

This decision comes after shareholders approved the move via postal ballot on 21 November 2024. The board of directors finalized the record date through a resolution passed by circulation on 28 November 2024.

Under the stock split, every equity share of Rs 10 face value will be subdivided into 10 equity shares with a face value of Rs 1 each. Such a move is typically aimed at increasing liquidity in the market and making shares more affordable for investors.

A stock split is often seen as a positive step for companies that want to attract a broader base of investors. By lowering the price per share more retail investors can participate, which may enhance trading volumes.

It also reflects confidence in the company's market position and growth prospects.
 

SAIL Inks New MoU

John Cockerill India announced that it has signed a memorandum of understanding (MoU) with the Steel Authority of India (SAIL) to promote advanced green steel solutions in India.

Under this MoU, the parties will collaborate to transform iron and steelmaking in India, focusing on sustainable green steel solutions. Key areas include a joint venture in cold rolling and processing for carbon steel, integrating green hydrogen into steelmaking, and incorporating John Cockerills technologies into SAILs future projects.

This partnership with SAIL allows John Cockerill to leverage its combined strengths and innovative capabilities to make a real impact on reducing carbon emissions and shaping a more sustainable and competitive steel sector in India both now and for the future.

The company is committed to helping India's steel industry transition to greener, more sustainable production processes. This MoU reflects a shared dedication to addressing pressing environmental challenges while strengthening the competitiveness of India's steel industry.

ZEE Shareholders Reject Goenka Reappointment

The shareholders of Zee Entertainment have rejected a proposal for the reappointment of Punit Goenka as director.

The filing by Zee Entertainment Enterprises Ltd (ZEEL) stated that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company.

Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.5% of the total number of votes cast while 50.4% voted against the resolution.

This is a major setback for Goenka who is currently the CEO of the company. Several proxy firms had earlier advised the shareholders to vote against resolution number three.

However, the three other resolutions for adopting the financial statement for FY'24, declaring a dividend, and ratification of remuneration to cost auditors were passed.

The Companies Act, 2013, mandates a simple majority of (50 per cent plus one) votes to pass an ordinary resolution at an annual general meeting.

Earlier this month Punit Goenka, had resigned from the post of managing director of ZEEL. However, he continued as CEO of the media and entertainment major. He had also withdrawn himself from reappointment for the said post in the AGM.

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