The benchmark indices are likely to open lower in the face of weak global signals. Indian equity benchmarks Sensex and Nifty closed significantly lower and posted a sharp decline as the volatility index rose 12 percent on Monday. The decline in the market is seen in line with the losses in global markets as investors await clues from the Federal Reserve this week.
The Sensex even fell by 524.96 points (0.89%), while the Nifty 50 closed below the psychological mark of 17,400 points and lost 188.25 points (1.07%) to 17,396.9 points.
Here are the stocks that are likely to be in focus today.
Adani ports: The fair trade regulator CCI approved the acquisition of over 10 percent of the shares in Gangavaram Port Ltd by Adani Ports and Special Economic Zone Ltd.
According to a merger announcement filed with the regulatory authority, the 10.4 percent of the shares would be acquired by the government of Andhra Pradesh.
Adani Ports and Special Economic Zone has 11 inland ports in six maritime states – Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
Glenmark Pharma: Glenmark Pharmaceuticals Ltd. (Glenmark) received final approval from the US Food & Drug Administration (US FDA) for Clindamycin Phosphate Foam, 1%, the generic version of Evoclin 1 Foam, 1%, from Mylan Pharmaceuticals Inc.
Cadila Healthcare: Cadila Healthcare said its subsidiary had a pact with Integrace Pvt Ltd. closed to sell two brands – Mifegest and Cytolog.
Zydus Healthcare Ltd, a wholly owned subsidiary of the company, has signed an agreement with Integrace, part of the portfolio companies of the private equity firm True North.
HCL technologies: The company announced a five-year digital transformation contract with MKS Instruments Inc., a global provider of instruments, systems, subsystems and solutions for advanced manufacturing processes, to improve performance, productivity and time to market.
Yes bank: Private lender Yes Bank announced a partnership with Visa to issue credit cards on Monday, in line with colleagues signing up with the major payment service provider following a regulatory ban on Mastercard.
In a statement, the bank said it had reached a transition in a record time of 60 days to be able to issue credit cards on Visa.
Tata power: Tata Power has won a 250 MW energy project through its wholly owned subsidiary TP Surya. As part of the project, the company will build a grid-connected photovoltaic solar power plant in Maharashtra. It has the letter of intent from Maharashtra State Power Generation Company Ltd.
Hindustan copper: The government has sold a 6.35 percent stake in Hindustan Copper Ltd to non-retailers, which began on the first day of the sale on Jan.
Last week the company informed the stock exchanges that the government was proposing to sell its 10 percent stake through the OFS.
“In this regard, we would like to inform you that on September 16, 2021, the President of India, acting through the Ministry of Mines of the Government of India, received 61,466,049 shares in the company based on T-Day (ie September 16, 2021) Commandments “, informed the mining ministry to the stock exchanges.