Benchmark indices are likely to open lower amid weak global cues. Closing sharply lower, the Indian equity benchmarks Sensex and Nifty, saw a major fall as the volatility index rose 12 per cent on Monday. The fall in the market is seen in line with losses across global markets as investors wait for cues from the US Federal Reserve Bank this week.
The Sensex fell as much as 524.96 points (0.89%), while Nifty 50 closed below the psychological mark of 17,400 points, dropping 188.25 points (1.07%) to 17,396.9 points.
Here are the stocks that are likely to be in focus today.
Adani Ports: Fair trade regulator CCI approved acquisition of over 10 per cent stake in Gangavaram Port Ltd by Adani Ports and Special Economic Zone Ltd.
The 10.4 per cent equity shareholding would be acquired from the government of Andhra Pradesh, according to a combination notice filed with the regulator.
Adani Ports and Special Economic Zone is present across 11 domestic ports in six maritime states — Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
Glenmark Pharma: Glenmark Pharmaceuticals Ltd. (Glenmark) received final approval by the United States Food & Drug Administration (U.S. FDA) for Clindamycin Phosphate Foam, 1%, the generic version of Evoclin 1 Foam, 1%, of Mylan Pharmaceuticals Inc.
Cadila Healthcare: Cadila Healthcare said its subsidiary has inked a pact with Integrace Pvt Ltd to sell two brands — Mifegest and Cytolog.
Zydus Healthcare Ltd, a wholly-owned subsidiary of the company, has inked the agreement with Integrace, a part of the portfolio companies of private equity firm True North.
HCL Technologies:┬а The company announced a five-year, digital transformation deal with MKS Instruments Inc., a global provider of instruments, systems, subsystems and solutions for advanced manufacturing processes, to improve performance, productivity and speed to market.
Yes Bank: Private sector lender Yes Bank on Monday announced a partnership with Visa for credit card issuances, in line with peers who are signing up with the payments major after a regulatory ban on Mastercard.
In a statement, the bank said it has achieved a transition to be able to issue credit cards on Visa within a record time of 60 days.
Tata Power: Tata Power has won a 250 MW power project, through its wholly-owned subsidiary TP Surya. Under the project, the company will set up a grid-connected solar photovoltaic power plant in Maharashtra. It has received the letter of intent from Maharashtra State Power Generation Company Ltd.
Hindustan Copper: The government has sold 6.35 per cent stake in Hindustan Copper Ltd to non-retail bidders who participated in the company’s offer for sale (OFS) on the first day of the sale on September 16.
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Last week, the company had informed the exchanges that the government proposes to sell its 10 per cent stake in the company through the OFS.
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“In this regard, we wish to inform you that the President of India, acting through the Ministry of Mines, Government of India, has sold 61,466,049 equity shares of the company on September 16, 2021 to non-retail bidders on the basis of valid bids received on T day (i.e., September 16, 2021),” the Ministry of Mines informed the stock exchanges.
