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Benchmark equtiy indices closed lower as selling pressure intensified during the second half of the day, weighed down by FMCG, energy, financial services and auto stocks. The Sensex closed 0.99% lower and the Nifty fell 0.98%.
Top laggards among Nifty sector indices were FMCG [-1.72%], Energy [-1.45%], PSU Bank [-1.21%], Auto [-1.21%], Private Bank [-1.20%] and Financial Services [-1.71%]. Top gainer was Metal [1.50%].
Indian rupee fell 32 paise to 76.11 against the US dollar on Monday.
Stock in News Today
Adani Green Energy: The renewable energy company has raised $288 million for its under-construction renewable asset portfolio. The funds will be utilized to finance 450 megawatt solar and wind projects in Rajasthan. With this capital raising, Adani Green’s revolving project finance facility pool has increased to $1.64 billion. Seven international banks, including BNP Paribas, Standard Chartered Bank and Societe General, have funded he facility, which is certified green hybrid project loan.
Maruti Suzuki India Ltd: Shares of the automaker rose over 3.2% in intraday trading after its parent company Suzuki Motor announced that it would invest Rs 10,440 crore by 2026 to build new electric car and battery factory in India. The Japanese firm has signed a MoU with Gujarat government at the India-Japan Economic Forum.
TTK Healthcare: Shares of the company rose 7.94% after the company agreed to sell its pharmaceutical formulations business to BSV Pharma and an affiliate of Advent International for Rs 805 crore ($106 million). The company plans to focus on core competence-related divisions.
Ratnamani Metals & Tubes: Shares of the company closed 4.81% higher after the company received a new domestic line pipe order for Rs 591 crore from the Oil and Gas sector. The order is to be executed between August 2022 and March 2023.
KEC International: The company secured new orders worth Rs 1,005 crore across transmission & distribution, railways, civil and cables businesses. Shares of the company rose more than 3% during the day but pares gains to close nearly flat.
Sun Pharma, Laurus Labs, Cipla, Glenmark, Granules India, Strides Pharma and SMS Pharma: Indian pharma companies have inked pacts to make generic version of Pfizer’s Covid pill, nirmatrelvir, which will be co-packaged with ritonavir for treatment of COVID-19, through the Medicines Patent Pool. Shares of the above mentioned pharma companies ended higher.
L&T Technology Services (LTTS): The engineering services company aims to achieve carbon and water neutrality by 2030 and has unveiled its first sustainability report, the company said. The report, which conforms to the Global Reporting Initiative (GRI), presents LTTS’ sustainability efforts across its key elements for fiscal 2020-21.
Godrej Properties: The realty company said that it has achieved over Rs 1,000 crore sales in FY2021-22 for its Township project in Pune. The company sold over 1,550 homes with an area of 1.5 million square feet during the year. Since the launch of the first phase in the township project ‘Riverhills’ in Pune in 2019, the firm has sold over 3,600 homes with a booking value of over Rs 2,100 crore.
Sobha Ltd: Shares of the company surged closed 1.11% higher after ICICI Securities upgraded the stock to ‘buy’ from ‘add’. The brokerage kept the target price unchanged at Rs 902, an implied upside of 22.60%. The brokerage firm said that the decision to elevate Jagdish Nangineni as the Managing Director will ensure continuity of company’s strategy. It also expects the realty firm to gain sales momentum in Q4FY22 on the back of new launches.
Alembic Pharma: The drug maker received the final U.S. FDA nod for its Abbreviate New Drug Application for Lacosamide tablets USP, 50 mg, 100 mg, 150 mg and 200 mg. The drug is indicated for treatment of partial-onset seizures in patients above the age of four years.
Aurionpro Solutions Ltd: Shares of the company closed 2.3% higher after it was awarded a master agreement by the Department of General Services (DGS) to participate in the California Integrated Travel Project. Auriopro’s group firm SC Soft is a leading provider of Automatic fare collection technology for public transport operators, banks,payment firms etc.