Market made a seven-tenths of a percent correction during the most recent trading session, maintaining a downward trend for the second straight session that was weighted down by stocks in the technology, pharmaceutical, select banking & financial services, and FMCG sectors.
Nifty50 dropped more than 120 points to 17,877, while the BSE Sensex sank more than 400 points to 59,934.
Stocks to watch today:
Adani Ports and Special Economic Zone: Due to a concession deal that its subsidiary HDC Bulk Terminal signed with Syama Prasad Mookerjee Port, Kolkata, for the mechanisation of Berth No. 2 at Haldia port, Adani Ports would increase the capacity of Haldia Dock in Bengal. The special purpose vehicle formed by HDC Bulk Terminal and Syama Prasad Mookerjee Port to carry out the project will be granted the right to plan, finance, construct, operate, maintain, and manage the bulk terminal with a 3.74 million tonne annual capacity at Haldia Dock Complex for a concession period of 30 years.
Future Lifestyle Fashions: On September 14–15, investor Pioneer Investment Fund sold 3.98 lakh equity shares, or 0.2% of the company, through open market transactions. With this, its ownership of the company has increased from 2.64% to 2.44%.
Ester Industries: The firm has completed the sale of Radici Plastics India’s engineering plastics business. In May 2022, Ester entered into a legally binding contract to sell the aforementioned company for Rs 289.33 crore.
UPL: To build a hybrid solar-wind energy power plant in Gujarat, the agrochemical giant has partnered with CleanMax Enviro Energy Solutions, a renewable energy firm with headquarters in Mumbai. A hybrid captive power plant with a capacity of 33 MW of wind power and 28.05 MW of solar electricity will be built and run by the joint venture.
Trigyn Technologies: The City of New York (City), Department of Information Technology & Telecommunications has awarded Trigyn Technologies, Inc. an enterprise task order deal for the provision of Class I citywide systems integration services. It is a six-year order.
Tata Power: With a deal of Rs. 612 crore, Tata Power subsidiary Tata Power Solar Systems will build a 100 MW ground-mounted plant for SJVN in Gujarat. Within 11 months of obtaining the award letter, the project will be put into operation.
MTAR Technologies: The business has orders in the clean energy sector, including civil nuclear power, valued roughly Rs 540 crore.
IndusInd Bank: The board of directors of the private lender accepted Sumant Kathpalia’s appointment to the position of managing director and chief executive officer for a further three years, subject to the approval of the RBI.
PVR: Through open market transactions, three different entities sold 40.45 lakh shares of the multiplex operator for a total of Rs. 759.14 crore. Gray Birch Investment sold 22,06,743 shares at a price of Rs 1,871.18, and Plenty Private Equity Fund I sold 10,76,259 shares at an average price of Rs 1,887.04.
Indian Hotels Company: The hotel management contract for the 129-room Vivanta hotel in Haridwar, Uttarakhand, was signed between Indian Hotels Company and Marvelous Infraestate. The current hotel, which is situated at SIDCUL (State Industrial Development Corporation of Uttarakhand Limited), Haridwar, will change its name to Vivanta after being upgraded.
