Benchmark indices ended lower for the fifth straight session on Tuesday amid partial recovery in Asian markets. The indices attempted a comeback during the session but gave up gains in the last 45 minutes of trade. Sensex fell 37 points to 57,107 and Nifty lost 9 points to 17,007. Among the 30-share Sensex pack, Tata Steel, Titan, Kotak Bank, SBI and HDFC were the top Sensex losers falling up to 1.85 per cent. IndusInd Bank, PowerGrid, HCL Tech, Infoys , Wipro and Dr Reddy’s were the top Sensex gainers, rising up to 2.18 per cent.
Share Market News Today Live: Sensex, Nifty set to open lower as recession risks loom
Here’s a look at stocks that are likely to remain in news today.
Axis Bank: The lender will invest around Rs 50-70 crore to acquire a little less than a 10 per cent stake in Fairfax-backed Go Digit Life Insurance. The lender is already a promoter of Max Life Insurance Company.
GOCL Corporation: The company has completed sale of the balance 12.25 acre of land for Rs 125.11 crore. Earlier, it had sold 32 acre out of 44.25 acre.
Mahindra CIE Automotive: Mahindra & Mahindra has offloaded 82,42,444 shares or 2.173 per cent stake in associate company Mahindra CIE Automotive. The sale has been executed through a bulk deal window at a gross price of Rs 285 per share.
Bharat Heavy Electrical: The company has won an order for setting up the 2×660 MW Talcher thermal power project Stage-III on EPC (engineering, procurement and construction) basis from NTPC.
PowerGrid Corporation: The state-owned transmission major said that its board has appointed its Director (Finance) G Ravisankar as Chief Financial Officer (CFO) with effect from Monday. Board of Directors have accorded approval for appointment of G Ravisankar, Director (Finance) as CFO of the company from 26 September, 2022.
IFCI: The company said its board has cleared preferential issue of equity shares up to Rs 100 crore for FY23 to the Government of India. This is subject to the approval of the shareholders.
Future Lifestyle Fashions: Investor Pioneer Investment Fund offloaded 4.73 lakh equity shares or 0.23 per cent stake in the company via open market transactions on September 22-23. With this, its stake reduced to 2.20 per cent, from 2.44 per cent earlier.
Bharat Petroleum Corporation: LIC has bought over a 2 per cent stake in the state-owned refiner for nearly Rs 1,598 crore since December last year. Its shareholding in BPCL has increased from 15.25 crore to 19.61 crore equity shares, increasing its shareholding from 7.03 per cent to 9.04 per cent capital of the company.
FSN E-Commerce Ventures: The Indian Institute of Management Ahmedabad (IIMA) has inked an agreement with Nykaa, to set up the “Nykaa Chair in Consumer Technology”. The Chair has been set up for an initial period of three years and has been facilitated by the IIMA Endowment fund.
Bank of India: State-owned lender said that it has acquired over 5.5 per cent stake in Open Network for Digital Commerce (ONDC) for Rs 10 crore.
Torrent Pharmaceuticals: The company has bought Curatio Healthcare, which has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, for Rs 2,000 crore. It has entered into definitive agreements to acquire 100 per cent in Curatio which reported revenue for FY21-22 at Rs 224 crore.