Post Market Analysis: Sensex, Nifty close lower; Adani Green, Aditya Birla Fashion and Airtel in news today

Domestic benchmark stock indices closed lower, dragged by pubic-sector banks, realty, auto and FMCG stocks amid investors’ focus shifting toward the Fed policy decision due on Wednesday. The Sensex closed 0.29% lower at 58117.09 and the Nifty closed 0.25% lower at 17324.90.

Top losers in Nifty sectoral indices were PSU Bank [-0.70%], Auto [-0.68%], Realty [-0.62%], Financial Services [-0.56%] and FMCG [-0.48%]. Top gainers were Pharma [1.06%], Energy [0.79%], Metal [0.43%].

Indian rupee fell 10 paise to close at 75.87 against the US dollar on Tuesday.

India’s inflation based on Wholesale Price Index stood at 14.23% in November 2021 compared to 12.54% in October. On a monthly basis WPI inflation rose 2.7% in November, compared to a 1.24% increase in October.

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Stock in News Today

Adani Green Energy: The company has inked an agreement with state-run Solar Energy Corporation of India (SECI) to supply 4667 MW of green energy. “This is yet another step in our journey to enable India’s dual objective to accelerate India’s renewable energy footprint as well as promote domestic manufacturing under the Aatmanirbhar Bharat programme, said Gautam Adani, Chairman of the Adani Group. Shares of Adani Green closed 3.64% higher.

Aditya Birla Fashion and Retail: The retailer has inked a long-term licensing agreement with Authentic Brands Group (ABG) to distribute and sell Reebok products in India and other ASEAN (Southeast Asian) countries. “The addition of Reebok, a marquee global sports and activewear brand will fill an important white space in ABFRL’s portfolio,” the company said in a statement. Shares of the company closed 6.46% higher.

Airtel: The telecom company and IT major Capgemini said that they will collaborate to bring India-specific, 5G-based enterprise grade solutions to the country. Capgemini’s 5G Lab within its Mumbai campus and Airtel’s 5G Lab in Manesar, Haryana, will be the development hubs. Two 5G use cases which are focused on smart health and immersive remote assistance for field operations and maintenance have already been deployed by Capgemini at Airtel’s 5G Lab.

HFCL Limited: The telecom equipment maker said it has raised Rs 600 crore via qualified institutional placement (QIP) issue and the capital will be used for setting up new manufacturing facilities, capacity expansions, R&D expense and product development.

Zomato: The online food delivery platform said ex-Unilever executive Anjalli Ravi Kumar will the company as Chief Sustainability Officer and Nitin Savara as Deputy Chief Financial Officer. Zomato said that Kumar’s appointment is to take the company’s initiatives to the next level and ensure its growth is sensitive to both environment and society.

Infosys: The IT major said that it has been selected by Finnish pharmaceutical company Orion Corporation to transform its ERP and Planning platforms, enhance employee experience, and drive business value realisation. Further, the company said that it will adopt standardised best SAP practices to enable end-to-end visibility across Orion’s operations, informed decision making, and reduce business operations cost through AI, ML, and robotic process automation.

Larsen & Toubro (L&T): The engineering company said its construction arm has bagged a large order from the Odisha government to construct clinical blocks and allied infrastructure for a hospital in Cuttack. The duration of the engineering, procurement, and construction (EPC) project is 30 months, the company said in a statement.

Natco Pharma Ltd: Shares of the company closed nearly 2% higher after the company approved the acquisition of Dash Pharmaceuticals LLC, U.S., through its subsidiary company. The cash consideration for the buyout is $18 million.