Indian benchmark indices are likely to open higher today as SGX Nifty was trading 175 points higher at 16,581, amid positive global cues.
On August 20, the benchmark indices closed lower for the second straight session, tracking a heavy sell-off in global markets. Sensex ended 300 points lower at 55,329 and Nifty lost 118 points to 16,450.
Here’s a look at stocks, which are likely to remain in news today.
Aurobindo Pharma: The company Ltd said its Rs 420-crore deal to acquire 51 per cent stake in Cronus Pharma Specialities India Pvt Ltd (Cronus) has been cancelled.
On August 12, the company had announced that it had entered into definitive agreements to subscribe to fresh equity shares in Hyderabad-based Cronus, a generic veterinary pharmaceutical products firm engaged in development, manufacturing and sale of these items.
GAIL: The company will foray into hydrogen generation and take the acquisition route to scale up its renewable energy portfolio as it pivots business beyond natural gas to align with energy transition being witnessed across the globe.
As part of a push to embrace cleaner forms of energy, GAIL will be laying pipeline infrastructure to connect consumption centres to gas sources while also augmenting its renewable energy portfolio, GAIL Chairman and Managing Director Manoj Jain said.
Cadila Healthcare: Zydus Cadila MD Dr Sharvil Patel said on Saturday that his company is set to apply for the trial of its COVID-19 vaccine ZyCoV-D on children aged 3-12 years. The announcement came a day after the vaccine received the Drugs Controller General of India’s (DCGI) approval for emergency use authorisation (EUA) for its three-dose vaccine, becoming the first jab to be approved for children in the 12-18 age group in India.
Adani Total Gas: The city gas joint venture of Adani Group and TotalEnergies of France – has acquired 50 per cent stake in a company that manufactures gas meters to aid its gas retailing business. The firm bought 50 per cent in Smartmeters Technologies Pvt Ltd(SMTPL) for Rs 1 crore, according to a company’s filing to stock exchanges.
NTPC: NTPC on Saturday announced commercial commissioning of a 15MW capacity at the floating solar PV project in Simhadri, Andhra Pradesh.
With this, the installed capacity of the floating solar PV project at Simhadri stands at 25 MW.
“Consequent upon successful commissioning of 15 MW capacity, Simhadri Floating Solar PV Project at Simhadri, Andhra Pradesh is hereby declared on commercial operation w.e.f. 10:00 Hrs. of 21.08.2021,” a BSE filing said.
Adani Enterprises: Market regulator Securities and Exchange Board of India (SEBI), in its latest observations on the recently filed initial public offering (IPO) papers by Adani Wilmar Ltd, has kept the Rs 4,500 crore issue in “abeyance”. The SEBI website shows the Adani Wilmar IPO has been “kept in abeyance”. Adani Wilmar, a 50:50 joint venture between the Adani Group and the Singapore-based Wilmar Group, had filed its draft red herring prospectus (DRHP) with SEBI on August 2.
Though SEBI has not cited a reason behind the hold, media reports suggest the Adani Wilmar IPO was put on hold due to an ongoing investigation into the group’s flagship company, Adani Enterprises.
Eicher Motors: The Eicher Motor shareholders have rejected a special resolution to reappoint Managing Director Siddhartha Lal for 5 years with effect from May 1, 2021. These proposals failed to muster institutional shareholders’ support at the company’s 39th annual general meeting (AGM) on August 17. Of the total 21.7 crore votes cast, around 15.8 crore were in his favour while 5.8 crore were cast against him.
