Antique | AMP – 231101

Antique | AMP – 231101

• The Dow closed higher Tuesday on the final day of trade for October, as investors digested a raft of corporate earnings. The Dow Jones Industrial Average gained 0.4% or 123 points to close at 33,053;, and the S&P 500 rose 0.6% to close at 4,194; and the Nasdaq gained 0.5% to close at12,851.
• The Nikkei 225 Index rose 0.53% to close at 30,859 while the broader Topix Index gained 1.01% to 2,254 on Tuesday, reversing losses from the previous session as the Bank of Japan largely kept an accommodative policy stance, although it made further adjustments to its yield curve controls.

Sector & Corporate News

• Indian pharma major Zydus Lifescienes reported that its Board has approved the acquisition of oral liquid products company LiqMeds for INR 6.89 bn. The LiqMeds group’s subsidiary LM Manufacturing Limited (LMML), has an oral liquids manufacturing site at Weedon, Northampton, UK, which supplies products to the US and UK markets. Zydus will pay an upfront consideration of GBP 68 million and yearly earn-outs until 2026 depending on achievement of certain agreed milestones towards acquisition of the LiqMeds Group of companies.
• Macrotech Developers is planning to launch housing projects worth INR 120 bn by March next year to tap strong consumer demand for quality homes from branded players. As per the company, with strong launch pipeline, it would easily achieve the INR 145 bn sales booking target fixed for the current fiscal year as against INR 121 bn in the previous year. Macrotech Developers, which sells properties under ‘Lodha’ brand, has already achieved sales bookings of INR 69 bn during the first six months of this fiscal.