Top Share of The Day: Softening in Asian market, stock market may start falling, these stocks will be in focus
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Top Share of the Day: Indian benchmark indices may open at negative levels today. Yesterday the markets closed with a heavy fall. Sensex fell 796 points and closed at 66,801. Nifty 50 closed at 19,901 with a fall of 232 points. Globally, American markets also closed in the red after the US Federal Reserve kept interest rates unchanged. Dow Jones closed down 77 points. Nasdaq closed down 209 points. The S&P 500 closed with a fall of 42 points. Asian shares are trading under pressure in view of Wall Street’s gains on Thursday. The Chinese Shanghai Composite is trading 0.46% lower. Hong Kong’s Hang Seng is trading down 1.19%. Japan’s Nikkei 225 closed with a decline of 1.08%. The Taiwan index is trading down 1.19%. The South Korean Kospi index is trading down 1.14%.
Nifty Midcap 50 stocks closed flat. Nifty Bank closed down by more than 1%. The top gainers in the last trading session were Power Grid, Coal India, ONGC, Asian Paints and Sun Pharma. HDFC Bank, JSW Steel, Reliance Industries, BPCL and UltraTech Cement were the biggest losers. The rupee closed 21 paise higher at 83.11 against the US dollar on Wednesday, continuing its remarkable recovery from lifetime lows. Oil prices fell in early Asian trading on Thursday after falling the most in a month in the previous session on expectations of a rate hike in the United States.
Today Share Market Investors will keep an eye on these stocks.
Infosys: The country’s second largest IT services provider and Nasdaq-listed NVIDIA have expanded their strategic partnership with the aim of helping organizations around the world in improving productivity through generative AI applications and solutions.
SJVN: On September 21 and 22, the government will sell 9,66,72,962 equity shares or 2.46% ownership stake in the hydroelectric power generation company, with an option to sell an additional 9,66,72,961 equity shares or 2.46%. Bet. OFS will be available for non-retail investors on September 21 and for retail investors on September 22.
biocon:Subsidiary Biocon Biologics has received European Commission approval for YESAFILI, a biosimilar of aflibercept, for marketing in the European Union (EU).
Cipla: Following the inspection, the US FDA issued 5 inspectional comments in Form 483 at Invagen’s manufacturing site in Central Islip, New York. There is no observation of replication or data integrity. USFDA visited the plant of subsidiary Invagen Pharmaceuticals Inc. from September 11 to 19.
Zydus Lifesciences: Clindamycin Phosphate Gel USP, 1%, which is used to treat acne, has received final approval from the United States Food and Drug Administration (USFDA). The drug will be produced at the group’s Changodar topical manufacturing facility.
Apollo Tires: Production of bias and OTR tires at the company’s Limda, Gujarat, manufacturing site has been stopped due to concerns among shop floor employees regarding renewal of long term settlement agreement. The corporation is holding talks and negotiations with the labor union officials to resolve their concerns and reach an agreement.
Asian Granito: Shareholders approved the re-appointment of Kamleshkumar Bhagubhai Patel as Chairman and Managing Director of the company for a term of three years beginning January 1, 2024 and ending December 31, 2026, with a further term beginning April 1. Approved the appointment of Mukeshbhai Jivabhai Patel as Managing Director. , 2024, and end on March 31, 2027.
rec: Subsidiary REC Power Development & Consultancy has transferred its entire interest in Beawar Transmission, including all assets and liabilities along with 50,000 equity shares, to Sterlite Grid 27. Under Phase-III Part F, Sterlite Grid will create an inter-state transmission system to evacuate power from 27 REZs (20GW) of Rajasthan.
RR cable: Norges Bank, on behalf of government pension fund Global, bought 20 lakh equity shares in the wire and cable maker at an average price of Rs 1,180 per share through an open market transaction on the day of listing. The value of these shares was Rs 236 crore.
Tarsan Products: Plutus Wealth Management LLP bought 17.4 lakh shares in the company at an average price of Rs 530 per share, which is 3.27% of the total shares paid. Share purchase cost is Rs 99.22 crore.
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