Benchmark indices tumbled for the fourth straight session on Monday, in line with weak global equities amid foreign fund outflows. Sensex tanked 953.70 points or 1.64 per cent to end at 57,145.22. Nifty fell 311.05 points or 1.80 per cent to close at 17,016.30. Mid-cap and small-cap indices on BSE fell 718 points and 959 points, respectively. Banking, auto and metal shares were the top sectoral losers with their BSE indices falling 1,037 points, 1,157 points, and 841 points, respectively. Market breadth was negative with 611 stocks ending higher against 2,980 stocks falling on BSE, while 116 shares were unchanged.
Share Market News Today Live Updates: Sensex, Nifty may take a breather after 4-day losing run amid mixed global cues
Here’s a look at stocks that are likely to remain in news today.
PVR Ltd: Film exhibition company PVR Cinemas will invest up to Rs 350 crore to open 100 new screens in FY23. It also expects its mega-merger with Inox Leisure to close by February 2023, after which it will start to run as a combined business, PVR’s chief executive Gautam Dutta said.
Amara Raja Batteries: The battery firm plans to integrate the battery plastic component business of Mangal Industries into its fold through a scheme of arrangement. The process involves the demerger of Mangal Industries’ plastics component battery business with the company.
Embassy Office Parks REIT: Blackstone plans to sell 7.7 crore units of Embassy REIT worth Rs 2,650 crore via block deals on September 27, according to reports. The offer price of the block deal stands at Rs 345 per unit.
Forbes & Company: The Shapoorji Pallonji Group firm has announced plans to demerge its precision tools business. The company said the precision tools business will be shaped into a new entity – Forbes Precision Tools and Machine Parts.
Dhanuka Agritech: The agrochemical firm said there were many ghost companies selling spurious pesticides in the domestic market, and demanded a crackdown against illegal trade as it impacts all stakeholders, including farmers. It has three manufacturing units located in Gujarat, Rajasthan, and Jammu and Kashmir.
Shree Ajit Pulp and Paper: The paper company said the board of directors are scheduled to be meeting on September 29 to consider the issue of equity shares of the company on a rights basis.
Dev Information Technology: The microcap IT company has won an order worth Rs 4.97 crore for delivering database management system software along with data centre class operating system software.
Jyoti Structures: The company has won a contract worth Rs 237 crore from Sterlite Power Transmission for turnkey supply and construction of 400 KV and 220 kV double circuit transmission line in Goa & Karnataka. It will be commissioned in a phased manner by December 2023 and July 2024.
Mahindra Logistics: The company has inked a business transfer agreement with Rivigo Services and its promoter for the acquisition of its B2B express business, as a going concern, on slump sale basis. The transaction cost is Rs 225 crore and the acquisition will be completed by November 1.
Filatex India: The company has commissioned its project for debottlenecking a melt capacity of 50 MT per day and manufacturing lines of 120 MT per day at Dahej Plant.
Mastek: Smallcap World Fund Inc bought 5,49,676 equity shares via open market transactions. These shares were bought at an average price of Rs 1,759.97 per share. However, Hornbill Orchid India Fund sold 4,29,086 shares in the company at an average price of Rs 1,760.01 per share.
Mercator: Promoter AHM Investments offloaded 1 lakh shares or 0.03 per cent via open market transactions on September 23. With this, its stake in the company has come down to 3.14 per cent, down from 3.17 per cent earlier.