Share Market Highlights 18 August, 2023: Sensex extends losses, closes below 65k amid global pressure; Nifty ends in red

Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend.

Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

In a volatile trade, the BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66. During the day, it fell by 396.3 points or 0.60 per cent to 64,754.72.

The NSE Nifty dipped 55.10 points or 0.28 per cent to end at 19,310.15. - PTI

Axis Bank informed the exchange that the Competition Commission of India (CCI) has imposed a penalty amounting to ₹40 lakh under Section 43A of Competition Act, 2002. The stock traded at ₹942.15, up by 0.60% on the NSE.

Latteys Industries Limited has received an order from Government for procurement of Truch Mounted Dry & Wet Garbage Suction Machine with operation & maintenance in Gwalior, Madhya Pradesh, worth of total amount of ₹2.50 crore.

The stock rises by 4.90% on the NSE, trading at ₹38.55.

The board of Panchsheel Organics has declared an interim dividend of ₹0.80 per share on Equity Shares of face value of ₹10 each for the financial year 2023-24, which is 8% of paid-up share capital.

Lupin informed the exchanges that the company has entered into Deed of Assignment with Boehringer Ingelheim International GmbH, Germany, for acquisition of the brands Ondero and Ondero - Met.

Lupin stock declines by 2.16% on the NSE, trading at ₹1,068.55.

Major gainers: Adani Enterprises (4.49%); Adani Ports (3.52%); Eicher Motors (1.48%); Nestle India (0.88%); Reliance (0.87%)

Major losers: TCS (-1.96%); Hero Motocorp (-1.87%); Hindalco (-1.81%); Infosys (-1.60%); Wipro (-1.52%)

Stocks advanced on BSE at 3 pm on August 18 were 1,553 against 2,021 stocks that declined.

Total stocks traded were 3,722. The number of stocks that recorded a 52-week high was 191, and those that hit a 52-week low was 33.

Knowledge Marine & Engineering Works Ltd has received a Letter of Award for “Yangon River Dredging Work” from Myanmar Port Authority worth approx $2 million. The said contract is to be executed within a period of 6 months commencing from October 1, 2023.

The stock declines by 1.63% on the NSE, trading at ₹1360.

Concord Biotech LTD informed the exchange that the company had received Establishment Inspection Report (EIR) indicating closure of USFDA’s inspection and classifying the company’s manufacturing facility at Gujarat as “no action indicated” (NAI).

The stock surges by 6.99% on the NSE, trading at ₹962.95.

Export of oilmeals from India increased to 15.91 lakh tonnes (lt) during April-July of 2023-24 against 12.29 lt in the corresponding period of the previous fiscal, recording a growth of 28 per cent.

Overall export of oilmeals increased to 3.18 lt during July against 2.23 lt in July 2022, registering a growth of 70 per cent.

Life Insurance Corporation of India informed the exchange that the Corporation’s shareholding in TIL Ltd has been diluted from 8.076% to 5.944% of the paid-up capital of the said company.

The stock of LIC declines by 1.02% on the NSE, trading at Rs 652.90. TIL Ltd gained 1.67% to trade at Rs 273.95 on NSE.

Indian Hume Pipe Co. Ltd. has informed the receipt of order valued at ₹639.16 crore (excluding GST) from Rural Water Supply & Sanitation, Odisha for execution of rural piped water supply project pertaining to six blocks of Puri District, Odisha including 5 years operation and maintenance on EPC contract.

The stock surges by 7.67% on the NSE, trading at ₹292.55.

The equity shares of Jio Financial Services, demerged entity of Reliance Industries, will debut on bourses on August 21.

Pyramid Technoplast IPO has been subscribed 0.80 times as of 1:48 pm on August 18, 2023. The QIB portion has been subscribed 0.05 times; NII portion 0.34 times and retail 1.16 times. The issue closes on August 22, 2023.

The board of Info Edge (India), Naukri, has agreed to invest a sum of ₹10 crore in Zwayam Digital Private Limited, wholly owned subsidiary of the company.

The stock of Naukri declines by 2.44% on the NSE, trading at ₹4,194.

Infosys stock declined by 1.61% on the NSE, trading at ₹1,388.80.

Meanwhile, the company had bagged $1.6 billion deal from Liberty Global.

The stock of Hindustan Oil Exploration Company tumbled by 14.33% on NSE, trading at ₹171.35, even though the company’s revenue and profit doubled in the first quarter.

The company informed that Ramasamy Jeevanandam will be appointed as its MD effective from October 1, following the retirement of Pandarinathan Elango on September 30, 2023.

Madhya Bharat Agro Products (MBAPL) informed stock exchange that Maharashtra Industrial Development Corporation has offered land to the company ad-measuring 4,67,350 sq metres at Nardana industrial Area Phase -II District Dhule, Maharashtra for setting up a 1,000 TPD of DAP/ NPK fertiliser and Phosphoric acid plant.

The stock of MBAPL surges by 3.24% on the NSE, trading at ₹615.

TD Power Systems informed the exchange that the company’s website (www.tdps.co.in) is currently non-functional due to an incident of cyber-attack. The Company’s IT team is working to resolve the issue. However, the stock rises by 2.35% on the NSE, trading at ₹252.50.

Bajaj Consumer Care has launched a new product - Bajaj Almond Drops Anti-Hairfall Shampoo. The stock declines by 2.60% on the NSE, trading at ₹245.20.

Pfaudler Inc. (ultimately held by DBAG Fund VI, a private equity fund advised by Deutsche Beteiligungs AG ‘DBAG’) has sold 13.6% equity stake in GMM Pfaudler Ltd (‘Company’) through bulk deals.

GMM Pfaudler stock declines by 1.31% on the NSE, trading at ₹1,502.20.

Vivriti Capital’s maiden public issue of non-convertible debentures (NCD) opened for subscription today and will close on will close on August 31.

The ₹500 crore NCD issue includes a base element of ₹250 crore with a green shoe option of another ₹250 crore. Investors will get an effective yield from 9.98-10.49% across Series I to Series V with different tenure of interest payment and coupon rates.

Asterdm DM Healthcare has reported a block trade worth Rs 97.64 crore involving 31.54 lakh shares at Rs 309.5 per share.

On BSE, the stock gained 2.46% to trade at Rs 311.95.

Pyramid Technoplast IPO has been subscribed 0.59 times as of 12:15 pm on August 18, 2023. The NII portion has been subscribed 0.25 times, while the portion reserved for retail investors was subscribed 0.87 times.

Yes Bank has launched mobile banking app ‘Iris’.

“Designed to cater to both existing and new customers, the app heralds a new era of convenience, efficiency, and personalisation by enabling customers to access over 100 features and services in just a few clicks, on a single platform,” the bank said.

Route Mobile has signed a partnership with Vodafone Idea to provide A2P SMS monetisation solutions.

Route Mobile stock rises by 1.05% on the NSE, trading at ₹1,547. Vodafone Idea stock declines by 2.58% on the NSE, trading at ₹7.55.

Concord Biotech stock trades at Rs 936.10. The stock opened at Rs 900.05, 21% premium compared with its initial public offer (IPO) price of Rs 741.

Major gainers on the NSE at 12 noon:

Adani Enterprises (5.77%); Adani Ports (4.64%); Eicher Motors (1.34%); Axis Bank (0.57%); Dr Reddy’s (0.48%)

Major losers:

Tech Mahindra (-1.86%); Wipro (-1.77%); TCS (-1.69%); Hero Motocorp (-1.63%); HDFC Life Insurance (-1.58%)

Stocks advanced on BSE at 12 noon on August 18 were 1,579 against 1,849 stocks that declined. Total stocks traded were 3,581. The number of stocks that recorded a 52-week high was 173, and those that hit a 52-week low was 26.

Hemisphere Properties India Ltd has engaged Jones Lang LaSalle Property Consultants (India) Pvt. Ltd as transaction advisor/consultant for Pune land parcel.

The stock rises by 3.97% on the NSE, trading at ₹119.20.

Jubilant Ingrevia said that its Members of Finance Committee considered and approved a proposal of raising of funds up to Rs 600 crore by issuance of commercial paper.

Shares of Flexituff Ventures International Ltd jumps 19.91% on the NSE, trading at ₹39.45.

Syrma SGS Technologies’ order book for it stands at almost ₹3,000 crore, up from ₹1,200 crore in the previous fiscal year, the company’s managing director Jasbir Singh Gujral said in the company’s FY23 annual report. The company, which got listed a year ago, offers customised end-to-end solutions for RFID tags and inlays, high-frequency magnetic components and automatic tester development services.

The August expiry futures of the Bank Nifty opened the day lower at 43,905 versus the previous session’s close of 44,047. It currently hovers around 44,000 and is thus flat for the day.

The support band of 43,870-44,000 has helped the Bank Nifty futures outperform Nifty futures, which is down by about 0.5 per cent so far today. Click here to know the trade strategy for today.

Rbm Infracon has received service orders from Nayara Energy Ltd for ₹49.19 crore. The stock surges by 4.94% on the NSE, trading at ₹72.25.

Finolex Cables stock jumps 7.13% on the NSE, trading at ₹1,101.50. The company reported a 39% rise in its net profit at ₹132.2 crore in the April-June quarter.

InCred Equities on Finolex

“We increase our revenue/EBITDA/PAT estimates by 3-5%/7-10%/6-9% over FY24-FY25. Higher optic fibre salience increases business cyclicality and the stock could structurally trade at a meaningful discount to its electrical C&W peers,” InCred Equities said.

Alkem Laboratories has reported a block trade worth Rs 448.73 crore on BSE. It involved over 12 lakh shares at Rs 3,739.

Nifty 50 August Futures (19,300) is down about 0.5 per cent. A low of 19,280 has been made so far. The fall to 19,250 mentioned yesterday has almost happened.

An important support is around 19,270. If that holds, we can get a relief rally to 19,350-19,370 during the day. In case the contract breaks below 19,270, a sharp fall to 19,000 is possible. Click here to know the trade strategy for today.

India Ratings & Research upgrades bank facilities ratings of Shree Renuka Sugars. The stock gained 0.1% at Rs 45 per share on NSE.

Brookfield India REIT on Friday said it has issued and allotted 15,000 dematerialized, rupee denominated, listed and rated commercial papers aggregating to Rs. 750 crores at a face value of Rs. 5 lakh each on August 17, 2023.

The funds will be utilised for repayment of debt of the SPVs of Brookfield India REIT; towards transaction expenses, capital expenditure and working capital requirements of Brookfield India REIT and its SPVs, per an exchange filing.

TRF stock surges by 18.47% on the NSE, trading at ₹221.

Major gainers on the BSE at 11 am are:

South Indian Bank (9.35%); CSB Bank (8.21%); Finolex (7.58%); Alok Industries (6.73%); Jai Corp (6.67%)

Major losers:

PTC (-5%); Manappuram Finance (-4.52%); Neuland (-3.85%); Rategain (-3.51%); Mphasis (-3.52%)

Axiscades Technologies ltd has acquired 94% stake in add solution GmbH, upon payment of Phase I consideration of Euro 5 Mn. Subsequently, add solution GmbH has become a subsidiary of AXISCADES GmbH and a step-down subsidiary of the company. However, the stock of AXISCADES declines by 2.76% on the NSE, trading at ₹560.15.

The Reserve Bank of India has issued fresh guidelines for regulated entities on penal charges in loan accounts to ensure that levy of penal interest/ charges is not used as a revenue enhancement tool by them, over and above the contracted rate of interest.

The central bank’s instructions for the REs (all commercial banks, urban co-operative banks, non-banking finance companies, including housing finance companies and All-India Financial Institutions) shall come into effect from January 1, 2024.

Pyramid Technoplast IPO, which opened to public today, will close on August 22.

The company plans to raise Rs 153 crore from the IPO, which comes out with a price band of ₹151-166 a share of face value of ₹10 each.

The IPO consists of fresh issue of ₹91.30 crore and an offer for sale (OFS) portion of ₹61.75 crore.

As part of IPO process Pyramid Technoplast garnered a capital of ₹27.55 crore through an anchor investors - the Carnelian Structural Shift Fund, the Alchemie Ventures Fund, the Pluris Fund, and the Resonance Opportunities Fund - on Thursday by deciding to allot 16,59,600 at ₹166 each.

Mahindra & Mahindra Limited informed the exchange that the company has received an order from the Joint Commissioner, CGST & Central Excise, Pune-I Commissionerate imposing a penalty of ₹14,31,571 under applicable provisions of the CGST Act, 2017 in relation to the erstwhile Mahindra Vehicle Manufacturers Limited, which has since been merged into the company.

M&M stock slides down by 1.12% on the NSE, trading at ₹1,555.95.

Hyderabad-based Bondada Engineering Ltd, a telecom and solar EPC services company, has launched IPO at Rs 75 a share and to be listed on BSE SME.

The public issue of face value of Rs 10 per equity share comprises of fresh issuance of 56,96,000 equity shares worth of Rs 42.72 crore. The investors can bid for a minimum of 1,600 equity shares in retail category and multiples of 1,600 equity shares in HNI category.

Today, Concord Biotech Limited made its debut on the stock markets by going public at Rs 900 per share, 21.46% higher than its IPO price of Rs 741. Concord Biotech is a leading API company with a proven track record. The company manufactures and exports APIs for a wide range of therapeutic areas.

However, the company’s international operations expose it to various complex risks. Additionally, this industry has been facing margin pressure recently. Overall, the listing of Concord Biotech was in line with expectations. The company’s strong fundamentals and good subscription levels were positive factors for this. Investors who participated in the IPO should consider booking profits post-listing.

The stock of the South Indian Bank surges by 9% on the NSE, trading at ₹23. RBI had approved the appointment of PR Seshadri as MD and CEO of the bank with effect from October 1.

Sula Vineyards stock rises by 1.56% on the NSE, trading at ₹496.70. The company informed the exchange that its wine tourism operations registered growth over the last weekend as visitor attendance surged at Nashik and Bengaluru on August 12-14. Revenues over the three days touched ₹2.08 crore, 40% higher than the previous three-day record of ₹1.47 crore.

The rupee recovered from its all-time low levels and appreciated by 7 paise to 83.02 against the US dollar in early trade on Friday as the American currency retracted from its elevated levels, per a PTI report.

However, a muted trend in domestic equities, foreign fund outflows and rising crude oil prices weighed on the domestic unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 83.03, then touched a high of 83.02 against the American currency, registering a rise of 7 paise over its last close.

In initial trade the rupee also touched a low of 83.09 against the American currency.

On Thursday, the rupee settled for the day lower by 1 paisa at a fresh all-time low of 83.09 against the US dollar.

Shares of IRIS Business Services jumps 13.54% on the NSE, trading at ₹120.30.

Spandana Sphoorty Financial’s board has approved the issuance of non-convertible debentures up to Rs 75 crore, including green shoe option of Rs 25 crore on private placement basis. The debentures carry an interest rate of 10.60% quarterly, with a tenure of 18 months from allotment, which is Aug. 24. The instrument will be listed on the BSE.

CRISIL Ratings has revised the rating outlook for Tier-II bonds of Punjab & Sind Bank from ‘negative’ to ‘stable’. The credit rating agency has reaffirmed the rating at ‘CRISIL AA’. The revision in outlook factors the sustained improvement in earnings, asset quality and capital position of the bank.

Bondada Engineering Limited’s SME Initial Public Offering opens today. The issue price has been set at Rs 75 a share.

BSE Sensex lost 286 points or 0.44% to trade at 64,864, while NSE Nifty lost 78 points or 0.4% to trade at 19,286 around 9.55 am. Major IT stocks such as TCS, Wipro, Tech Mahindra and HCL Tech have lost more than 1%.

Astral’s UK unit Seal IT Services has incorporated one new step-down subsidiary to distribute, transmit and sell building chemicals from the UK into Ireland as an EU-entity for importer responsibilities covering REACH, CPL packaging regulations and related safety responsibilities.

The stock lost 0.66% on BSE.

Repro India has approved issuance of shares on a preferential basis at Rs 765 a share.

Go First’s settlement talks with Delhivery fail, legal battle to continue at NCLT

The Shares of Krishna Institute of Medical Sciences (KIMS) gained 1.33 percent in early trade on BSE on Friday and are trading at Rs 1928.70.

As per a disclosure on Friday, KIMS acquired equity holding of 8.06% through a primary purchase in Kondapur Healthcare Limited. The total paid-up Equity Share Capital of Kondapur Healthcare Private Limited as of date is Rs 124 crore.

Kondapur Healthcare Limited is yet to commence its operations. The shares were acquired by KIMS at Rs 10 per equity share in a cash consideration.

The stock of NLC India gained 2.08% on the NSE to trade at ₹127.90. The company had secured 510 MW solar project capacity in the CPSU Scheme Phase-11 Tranche-III floated by Indian Renewable Energy Development Agency (IREDA) through competitive bidding.

Major gainers on the NSE at 9:30 am

Dr Reddy’s (1.42%); Cipla (1.10%); LT (0.64%); Tata Motors (0.40%); Divi’s Lab (0.31%)

Major losers

TCS (-1.24%); Wipro (-1.09%); Hero Motocorp (-0.94%); HCL Tech (-0.83%); Hindalco (-0.83%)

Brent crude oil futures traded marginally higher on Friday morning. However, the oil market is set to end the week lower as the economic slowdown in China further deepened with property sector crisis in that country. At 9.29 am on Friday, October Brent oil futures were at $84.17, up by 0.06 per cent; and September crude oil futures on WTI (West Texas Intermediate) were at $80.58, up by 0.24 per cent. August crude oil futures were trading at ₹6692 on Multi Commodity Exchange (MCX) in the initial trading hour of Friday morning against the previous close of ₹6685, up by 0.10 per cent; and September futures were trading at ₹6655 as against the previous close of ₹6654, up by 0.02 per cent.

Mats and More Private Limited, a wholly owned subsidiary of Faze Three Limited, has acquired existing factory premises from Basell Polyolefins India Private Limited situated in Aurangabad.

The cost of acquisition for the said premises is ₹5.16 crore and has an area of 10,500 sq. metres.

EaseMyTrip (Easy Trip Planners) opens its first offline retail stores in Delhi and Agra, Uttar Pradesh.

Zydus Lifesciences receives USFDA approval for Doxepin Tablets in 3 mg and 6 mg strengths.

Gold dropped by 0.67 per cent to Rs 58,290 per 10 grams as US 10-year Treasury yield reached its highest in 10 months, underpinned by fears that US interest rates might stay higher for longer, contributing, along with China’s economic woes.

Fed minutes showed policy makers were divided over the need for more interest rate increases, with some citing the risk to the economy of pushing hikes too far.

Indian markets opened lower on Friday. BSE Sensex lost 205 points or 0.32% to trade at 64,945, while NSE Nifty lost 78 points or 0.4% to trade at 19,286 in early trade

Confidence Petroleum India Ltd has commissioned 13 new Auto LPG Dispensing Stations (ALDS) to cater to green fuel requirement of cars and auto rickshaws.

Indigo weightage increased by 4% on FTSE All-World Index.

Tata Capital Financial Services Limited has sanctioned a loan facility of Rs 6 crore to Star Housing Finance Limited.

The Ministry of Information & Broadcasting has granted permission to NDTV to uplink and downlink four news and current affairs channels namely ‘NDTV Rajasthan’, ‘NDTV Madhya Pradesh / Chhattisgarh’, ‘NDTV Gujarati’ and ‘NDTV Marathi’.

The company plans to launch ‘NDTV Madhya Pradesh/Chhattisgarh’ on August 21. The launch date for the other channels would be announced once finalised, it said.

HP Adhesives to consider stock split on September 4.

Ex-Dividend 21 August 2023 (Monday)

Last date for Cum-Dividend Today

A-1 Acid Ltd

Dividend Per Share Rs. 1.5

Previous day Closing Price – Rs. 370.65

Chambal Fertilisers & Chemicals Ltd.

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 263.85

Competent Automobiles Co. Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 349.45

Finolex Industries Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 204.15

LTD Cementation India Ltd.

Dividend Per Share Rs.0.75

Previous day Closing Price – Rs. 204.95

Jagsonpal Pharmaceuticals Ltd.

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 463.1

K.P. Energy Ltd

Dividend Per Share Rs.0.25

Previous day Closing Price – Rs. 374.5

Kriti Nutrients Ltd

Dividend Per Share Rs.0.25

Previous day Closing Price – Rs. 78.26

Linc Ltd

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 623.1

Reliance Industries Ltd.

Dividend Per Share Rs.9

Previous day Closing Price – Rs. 2537.75

Stovec Industries Ltd.

Special Dividend Per Share Rs. 157

Previous day Closing Price – Rs. 2586.6

Tamboli Capital Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 134.1

Transpek Industry Ltd.

Dividend Per Share Rs.27.5

Previous day Closing Price – Rs. 1906.65

Uni Abex Alloy Products Ltd.

Dividend Per Share Rs.20

Previous day Closing Price – Rs. 1741.8

Vascon Engineers Ltd

Dividend Per Share Rs.0.25

Previous day Closing Price – Rs. 51.55

Shares of Jhunjhunwala-backed Concord Biotech will be listed at the bourses today. The company has fixed the IPO price at ₹741 at the upper end of the price band ₹705-741. The company had raised ₹1,550.59 crore through the nitial public offering

• CHAMBLFERT
• DELTACORP
• GNFC
• GRANULES
• HINDCOPPER
• IBULHSGFIN
• INDIACEM
• PNB
• SAIL
• ZEEL

Dolphin Offshore Enterprises (India) Limited has informed the exchanges that pursuant to the NCLT Order dated September 29, 2022, under Insolvency and Bankruptcy Code, 2016, the reduced public shareholding of the company will be listed and admitted to dealings on the both the exchanges.

The stock has been under suspension for procedural reasons.

Telangana-based Srivari Spices and Foods that was subscribed a whopping 418.5 times, will be listed on the NSE-Emerge, the SME platform, on Friday.

Investors poured in nearly ₹2,700 crore worth of bids, against the issue size of ₹9 crore, bidding for 64.27 crore shares, against the offer size of 15.36 lakh equity shares. The price band of the issue was ₹40-42.

While the retail investors’ portion was subscribed 518 times, the non-institutional investors’ portion was subscribed 786 times, and the QIB portion 79 times.

Jio Financial will be removed from FTSE Indices with a valuation of zero on August 21. This is due to the stock not being listed within the stipulated 20 business days, and there hasn’t been any confirmation of a firm trading date.

Bajoria Financial Services Pvt Ltd, an entity of Indian Promoter Group of IFGL Refractories Ltd, has acquired 55,90,156 shares from Krosaki Harima Corporation, Japan (foreign promoter). This acquired shares constitute 15.51 per cent stake in IFGL Refractories.

Sula Vineyards Limited has said that its iconic Wine Tourism operations registered growth over the last weekend as visitor attendance surged at Nashik and Bengaluru on August 12-14. Revenues over the three days touched ₹2.08 crore, 40 per cent higher than the previous three-day record of ₹1.47 crore.

3i Infotech has informed stock exchanges that the Supreme Court has set aside ₹51.24 crore as against the Service Tax Department levy of service tax amounting to ₹80.03 crore on the ground that classification mentioned in the show cause notice viz. “management, maintenance and repair services” is erroneous.

Adani Energy Solutions Limited (formerly known as Adani Transmission Limited) has signed definitive documents for acquisition of KPS 1 Transmission Limited from Megha Engineering & Infrastructures Limited. KPS1 Project includes implementation of KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line and augmentation of Khavda PS1.

NTPC has inked a business transfer agreement to hive off its mining business, comprising six coalfields, to its arm NTPC Mining Ltd. Based on book value as per the Audited Financials as of March 31, 2023, the consideration of this transaction is ₹7,794.99 crore payable through a combination of cash/ equity shares/ debt liability.

Jain Irrigation Systems plans to raise around Rs 200 crore through preferential allotment of equity share warrants. The price for the 1,63,21,607 equity share warrants -- to be worked out under a certificate of the statutory auditor -- is likely to be about ₹46.64 a share, the company said in a regulatory filing.

Mundra Solar Energy Limited, an associate company of Adani Green Energy, has received commercial operational date certificate from Solar Energy Corporation of India for solar PV Cells and Solar PV Modules manufacturing plant located at Mundra, Gujarat. The plant has a capacity of 2 GW per annum. Adani Green Energy Limited holds 26 per cent stake in MSEL through its wholly owned subsidiary Adani Renewable Energy Holding Four Limited, while Adani Enterprises holds 74 per cent through its wholly-owned subsidiary Adani Tradecom Limited.

India Ratings and Research (Ind-Ra) has assigned Sheela Foam Limited (SFL) a long-term issuer rating of ‘IND AA’ with a stable outlook.

Krishna Institute of Medical Sciences Limited has informed the exchanges that its material subsidiary KIMS Hospital Enterprises Private Limited has made an investment by acquiring equity stake of 8.06 per cent stake in Kondapur Healthcare Ltd.

LTIMindtree has informed the exchanges that US-based supplemental insurance provider Aflac has selected the company as a digital transformation partner for application modernisation and cloud transformation. The partnership will rearchitect Aflac’s legacy applications with a cloud-first approach in collaboration with Amazon Web Services, ensuring performance efficiency, cost optimization, and operational excellence with heightened security.

NLC India Limited, a navaratna central public sector undertaking, contemplates establishing 6,031 MW capacity by 2030. The company has secured 510 MW solar project capacity in the CPSU Scheme Phase-11 Tranche-III floated by Indian Renewable Energy Development Agency (IREDA) through competitive bidding. 300 MW solar project capacity is under execution at Barsingsar in Bikaner District, Rajasthan. The EPC contract for the project has been awarded to Tata Power Solar Systems through competitive bidding.

ACC, FSN E-Commerce, HDFC Asset Management, Page Industries and Indus Towers will be out of Nifty Next 50 from September 29. In a press release, the National Stock Exchange said these shares will be replaced by Punjab National Bank, Shriram Finance, Trent, TVS Motor Company, and Zydus Lifesciences.

RBI has approved appointment of PR Seshadri as Managing Director and CEO of South Indian Bank.

The Reserve Bank of India has approved the appointment of PR Seshadri as the Managing Director and CEO of the Thrissur based South Indian Bank. The appointment will be for a period of three years with effect from October 1.

The short-term outlook is bullish for IFB Industries. The stock surged over 5 per cent on Thursday, breaking above the key resistance around ₹860.

The region between ₹870 and ₹860 is good support and limits the downside. Immediate resistance is at ₹910. The chances are looking high for the stock to break ₹910. Such a break can take IFB Industries’ share price up to ₹960 initially. Click here to know the complete technical analysis.

Here are the key intraday supports and resistances to watch out for Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC.

Gift Nifty at 19303 indicates a gap-down opening of up to 100 points for Nifty on Friday. According to analysts, market is likely to remain in consolidation phase with downward bias.

Snapping their two-day winning run, equity benchmarks Sensex and Nifty closed in the negative territory on Thursday, tracking losses in index majors Reliance Industries, ITC, and HDFC bank amid a weak trend in global markets.

The BSE Sensex declined 388.40 points or 0.59 per cent to settle at 65,151.02. During the day, it fell by 493.32 points or 0.75 per cent to 65,046.10.

The NSE Nifty slipped 99.75 points or 0.51 per cent to end at 19,365.25.