Today’s stock market highlights several companies experiencing key developments, with notable movements in IT, renewable energy, pharma, and finance sectors. Accenture’s positive revenue guidance has brought optimism to the IT sector, while other major players like NTPC, Biocon, and SBI Cards are also in focus for strategic partnerships and positive business updates. On the downside, Torrent Pharma faces quality test allegations, and Union Bank is grappling with potential service disruptions due to a strike.
- IT Stocks: Accenture has revised its FY25 revenue guidance to 3-6%, up from the earlier estimate of 1.5-2.5%, providing a positive outlook for the IT sector.
- NTPC: The company’s arm has signed a joint venture with Mahatma Phule to develop 10 GW of renewable energy projects.
- Biocon: Biocon has partnered with Tabuk Pharma to commercialize GLP-1 products in the Middle East, expanding its footprint in the region.
- SBI Cards: According to Morgan Stanley, SBI Cards’ August spending market share rose by 18 basis points month-on-month to 15.7%.
- Piramal Enterprises: The company’s arm has sold a Mumbai property for ₹187 crore.
- RITES: A consortium led by RITES has emerged as the lowest bidder for a Delhi Metro project worth ₹87.58 crore.
- BASF: BASF is exploring strategic options globally to create value in its coatings business.
- Prataap Snacks: Authum Investment and Mahi Kela are set to acquire a 46.9% stake in Prataap Snacks for ₹846.6 crore.
- Railtel: Railtel has secured a work order worth ₹155.72 crore from the Rural Development Department in Maharashtra.
- Thangamayil: The board has approved a ₹600 crore fundraise via a rights issue.
- Krsnaa Diagnostics: The company has received a letter of intent from Ranchi Institute to manage its radiology center and pathology lab services.
- Escorts Finance: RBI has granted a certificate of registration to Escorts Finance, allowing it to commence NBFC operations.
- PC Jewellers: Bank of India has approved a one-time settlement proposal submitted by the company.
- Torrent Pharma: The company has refuted claims that Shelcal 500 failed quality tests.
- Nuvama Wealth: Sources suggest Edelweiss Financial & Ecap Equities are selling a 6.4% stake via block deals, with a floor price set at ₹644 per share.
- Union Bank: Around 7% of the bank’s employees will go on strike today, which may disrupt services.
- Five Star Business Finance: Private equity investors have sold a 12% stake via block deals, with Nomura Funds and Max Life among the buyers.
- Gulf Oil: The promoter has sold a 4.2% stake via block deals, with ITI Mutual Fund and AB Sun Life among the key buyers.
In conclusion, the market today is shaped by a mixture of positive developments in the IT, renewable energy, and finance sectors, while a few companies face challenges, including strikes and block deals. Investors will closely monitor how these factors impact market sentiment.
