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Market Opening - An Overview
GIFT Nifty futures on the NSE IX was trading 0.09% lower 19,920, indicating that Dalal Street was headed for muted start on Monday.
Asian shares were mixed as investors were cautious ahead of the US inflation data due next week. The Nikkei 225 index fell 0.19%, while the Topix edged up 0.10%. The CSI 300 index gained 0.33% and the HAng Seng tumbled by 1.36%.
The Indian rupee rose by 28 paise to 82.94 against the US dollar on Friday.
FII/DII Trading Data
Foreign institutional investors (FII) sold shares worth Rs 224.22 crore, while domestic institutional investors (DII) bought Rs 1,150.15 crore worth of stocks on September 8, according to data from the National Stock Exchange (NSE).
Stocks in News Today
Adani Enterprises: Adani Global Pte Ltd, Singapore, a step-down wholly owned subsidiary of the company has signed a agreement with Kowa Holdings Asia Pte Ltd, Singapore. The agreement is for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by the Adani Group in the agreed territory.
Tata Consultancy Service (TCS): The IT major plans to use the AI infrastructure to build and process generative AI applications and alos collaborate with clients with an AI-first approach. TCS also plans to upskill its 6,00,000-strong workforce by leveraging the partnership.
ICICI Bank: The private sector lender has received the RBI’s nod to make I-Process Services a wholly owned subsidiary. The lender currently holds a 19% stake in the manpower and training support provider.
REC: The state-owned company has received shareholders’ approval to increase the overall borrowing limit of the company to rs 6 lakh crore from Rs 4.5 lakh crore in its 54th AGM. Shareholders also approved a special resolution for raising funds through private placement of unsecured or secured non-convertible bonds or debentures up to Rs 1 lakh crore in one or more tranches.
NTPC: The company’s subsidiary, NTPC Green Energy, and V O Chidambaranar Port Authority will jointly develop a green hydrogen hub at Tuticorin in Tamil Nadu. Green hydrogen, green ammonia and green methanol, will be produced at the hub to be built on the land provided by VOCPA.
Tata Communications: The company has joined hands with Nvidia to develop an AI cloud in India aimed at providing critical infrastructure that enables computing’s next lifecycle. That will result in high-speed data transfers for enterprises.
Coffee Day Enterprises: IDBI Trusteeship Services has filed a bankruptcy and insolvency plea with the NCLT against the company on an alleged Rs 228.45 crore default.
Shyam Metalics and Energy: The company has announced an offer for sale of up to 1.3 crore shares, or 5.11% stake, for Rs 414 apiece. Promoters Narantak Dealcomm and Subham Buildwell will sell stakes. The OFS will open and close on Sept. 11 for non-retail investors and on Sept. 12 for retail investors.
Vakrangee: The technology company has signed a binding term-sheet with private equity investor Aaviskaar Capital to acquire a 48.5% stake in Vortex Engineering. Vortex is one of the leading providers of automated teller machines and, so far, has shipped more than 10,000 ATMs across India, South Asia, and Africa.
SJVN: The company’s subsidiary, SJVN Green Energy, has signed a power-purchase agreement with Bhakra Beas Management Board for 18 MW solar power project. The project will be developed in Himachal Pradesh and Punjab and it is scheduled to be commissioned by August 2024.
Schaeffler India: The company has acquired 100 percent shareholding of KRSV Innovative Auto Solutions. The acquisition was completed on September 8.
Gateway Distriparks: Sandeep Kumar Shaw has resigned as the Chief Financial Officer and key managerial personnel due to personal reasons. Shaw’s resignation will be effective November 28.