🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• The Indian equity market maintained its uptrend for the eighth consecutive session on September 15, driven by strong global market sentiments, US Fed rate cut optimism, and an India-US trade deal. The Nifty 50 index surpassed the psychological 25,000 level to close at 25,114, while the BSE Sensex finished near 82,000.
• Sectorally, financial services and metals advanced 1% each, with the IT index also posting modest gains. Defence stocks surged, lifting the Nifty India Defence index over 4% due to fresh order wins.
• Infosys shares rose following the approval of its largest-ever buyback worth ₹18,000 crore.
• Apollo Hospitals announced plans to acquire IFC's 31% stake in Apollo Health and Lifestyle Ltd for ₹1,254 crore, increasing its holding to 99.42% subject to CCI approval. The company also plans a ₹573 crore investment to establish a proton therapy oncology facility in Gurugram.
• RailTel Corporation secured a new order worth ₹209.79 crore from the Bihar Education Project Council, adding to ₹396 crore worth of orders received last week, bringing the aggregate value of recent orders to over ₹600 crore.
• Adani Power entered a 25-year agreement with Bihar State Power Generation Company to supply 2,400 MW from a greenfield plant in Pirpainti, Bhagalpur.
• Hindustan Copper is set to nearly triple its capacity to 12.2 MT by FY31 from 3.47 MT in FY25, with a planned capital expenditure of approximately ₹2,000 crore over the next 5-6 years.
• Jeena Sikho Lifecare commenced operations of its new 40-bed hospital in Jammu.
• ASM Technologies signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest ₹250 crore in expanding its Electronics System Design and Manufacturing (ESDM) capabilities.
• Religare Enterprises allotted 6.38 crore convertible warrants at ₹235 per share, successfully raising ₹1,500 crore.
• Himadri Specialty Chemical invested an additional AUD 15 lakh in Sicona Battery Tech via CCNS.
• Engineers India Ltd secured a contract valued at ₹618 crore from an African fertiliser firm for Project Management Consultancy (PMC) and Engineering, Procurement, and Construction Management (EPCM) services for a new fertiliser plant.

Neutral Developments

• GMR Airports reported a 3.5% decline in passenger traffic for August at 93.49 Lakh, though it witnessed a 4.2% year-over-year growth in aircraft movements for the period.
• Karnataka Bank announced that Abhishek Sankar Bagchi resigned as CFO, effective September 14, with Vijayakumar PH appointed as the new CFO effective September 15.
• The Indian stock market benchmark indices, Sensex and Nifty 50, were expected to open lower on Monday, tracking mixed cues from global markets, despite a strong close on Friday.
• FMCG, Media, and Oil & Gas sectors underperformed last week and may see subdued action unless triggered by specific news or policy measures.

Negative News

• Dr Reddy's Laboratories received a Form 483 with five observations from the USFDA following a pre-approval inspection at its Bachupally biologics facility. The company stated it would address these issues in due course.

TAGS: Stocks in News, Stock Market, Buzzing Stocks, Nifty, Sensex

Tags: Stocks in News Stock Market Buzzing Stocks Nifty Sensex