On September 26, the market once again delivered a gravely disappointing performance as the benchmark indices fell more than 1.6%, reflecting a fall in global peers amid escalating recession fears. Sentiment was also affected by the strong selling by FIIs and currency declines versus the US dollar. The Nifty50 fell 311 points to 17,016 while the BSE Sensex crashed 954 points to 57,145.
Stocks to watch today:
Infosys
The Canadian IT giant opened its new digital centre in Calgary on Monday and announced that it would double its initial commitment to the area when it initially expanded there in 2021 by adding 1,000 additional jobs over the next two years. As the corporation also wants to quadruple its overall personnel commitment in the nation to 8,000 employees by 2024, this is anticipated to assist the company’s growth across Canada.
Jubilant FoodWorks
The Dominos operator said in a filing with the stock exchange on Monday that it had purchased a 29.24% fully diluted share in Roadcast Tech Solutions Pvt Ltd. By a fully diluted basis, the acquisition of the remaining 10.58% interest is anticipated to be finished by October 26, 2022. To purchase a 40% stake in Roadcast, Jubilant FoodWorks signed a share subscription agreement, shareholders’ agreement, and share purchase agreement on July 28.
Embassy Office Parks REIT
On September 27, according to sources cited by CNBC Awaaz, Blackstone Inc. plans to sell 7.7 crore units of Embassy REIT for a total value of Rs 2,650 crore through block agreements. The block deal’s bid price is Rs 345 for per unit.
Mahindra Logistics
With Rivigo Services and its promoter, the company has engaged into a Business Transfer Agreement in order to purchase their B2B express business as a continuing concern and on a slump sale basis. The acquisition will be finished by November 1, 2022, and the transaction will cost Rs 225 crore.
Jyoti Structures
Sterlite Power Transmission has awarded the company a contract for the turnkey supply and construction of a 400 KV & 220 KV double circuit transmission line in Goa & Karnataka. The contract is for Rs 237 crore, and it will be phased in between July 2024 and December 2023.
Dev Information Technology
For the delivery of data center-class operating system software and database management system software, the company has got an order for Rs 4.97 crore.
Amara Raja Batteries
According to the firm, the board has approved demerging the plastic component for battery business under the name of Mangal Industries. As of March 2022, the aforementioned company had a revenue of Rs. 569.4 crore.
Filatex India
The project for debottlenecking melt capacity of 50 MT per day and manufacturing lines of 120 MT per day at Dahej Plant has been put into operation by the firm.
Orient Bell
The company declared the Hoskote plant’s expansion in Bengaluru district complete. This expansion was completed considerably ahead of schedule and required capital of about Rs 34 crore. As a result, the company’s overall capacity grew from 32 MSM annually to 33.8 MSM annually, including 10 MSM annually of the related firms.
