The Indian stock market, which opened after a day’s break, couldn’t repeat the stellar gains of August 30 as negative global cues dragged the benchmark indices lower by more than 1 percent lower in the last trading session. The headline BSE Sensex ended 770.5 points, or 1.3 per cent, down at 58,766.6.
The market traded within the range of the previous day. The BSE Sensex fell 770 points or 1.29 per cent to 58,767, while the Nifty50 plunged 216 points or 1.2 per cent to 17,543.
Stocks in News
Adani Enterprises
Adani Enterprises will replace Shree Cement in the Nifty50 index with effect from September 30. In Nifty Next 50, Adani Total Gas, Bharat Electronics, Hindustan Aeronautics, IRCTC, Mphasis, Samvardhana Motherson, and Shree Cement will replace Adani Enterprises, Jubilant Foodworks, Lupin, Mindtree, PNB, SAIL, and Zydus Life.
Infosys
The IT services company has completed the acquisition of Europe-based life sciences consulting and technology firm BASE life science. BASE further expands Infosys’ footprint in the Nordics region and will bring domain experts with commercial, medical, digital marketing, clinical, regulatory, and quality know how.
RattanIndia Power
The company said the board of directors appointed Rajiv Rattan as an Executive Chairman of the company for a period of five years with effect from October 1, 2022. Rajiv, a part of the promoter group, is currently a non-executive Chairman.
Aurobindo Pharma
Its subsidiary CuraTeQ Biologics has decided to expand its operations by establishing another mammalian cell culture manufacturing facility of higher capacity to cater to the future requirements. The capital expenditure for ramping up capacities is estimated to be around Rs 300 crore. The facility is likely to be fully operational by FY26. The company plans to enter into contract manufacturing operations (CMO) for biologicals for effective utilization of capacities and augmenting the business prospects in this area as the global biologics contract manufacturing demand is growing at 8 to 10 percent rate.
Ramco Systems
Enterprise aviation software provider Ramco Systems Corporation, USA announced that its US subsidiary Ramco Systems Defense and Security Incorporated (RSDSI) has received contract from General Atomics Aeronautical Systems, Inc. (GA-ASI). Ramco will implement its Aviation M&E MRO Suite V5.9 for GA-ASI’s SkyGuardian Global Support Solutions (SGSS) program.
SIS
SIS Australia Group Pty Limited, a subsidiary of the company, has signed Share Purchase Agreement for acquisition of 85 per cent shareholding in Safety Direct Solutions Pty Ltd which provides critical risk management, medical and training services. The company will complete transaction by September 30 and the transaction cost is AUD 5 million.
Eicher Motors
Royal Enfield sold 70,112 units in August, registering 53 per cent growth compared to 45,860 units sold in year-ago month. In financial year-to-date, Eicher sold 3.12 lakh units, up 47 per cent over 2.13 lakh units sold in same period last year.
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