It was another disappointing day for bulls in the last trading session as the market corrected seven-tenth of a per cent, continuing a downtrend for the second consecutive session weighed down by technology, pharma, select banking & financial services, and FMCG stocks. The BSE Sensex fell more than 400 points to 59,934, while the Nifty50 dropped over 120 points to 17,877.
Stocks in News
Adani Ports and Special Economic Zone
Adani Ports will enhance Haldia Dock’s capacity in Bengal as its subsidiary HDC Bulk Terminal has signed concession agreement with Syama Prasad Mookerjee Port, Kolkata, for mechanization of Berth no. 2 at Haldia port. The special purpose vehicle between HDC Bulk Terminal and Syama Prasad Mookerjee Port formed to implement the project will get the rights to design, build, finance, operate, maintain and manage the bulk terminal with a capacity of 3.74 million tons per annum for a concession period of 30 years at Haldia Dock Complex, Haldia.
Future Lifestyle Fashions
Investor Pioneer Investment Fund has sold 3.98 lakh equity shares or 0.2 per cent stake in the company via open market transactions on September 14-15. With this, its shareholding in the company stands reduced to 2.44 per cent, up from 2.64 per cent earlier.
Ester Industries
The company has completed sale of engineering plastics business to Radici Plastics India. Ester in May 2022 had entered into a definitive agreement to sell the said business for Rs 289.33 crore.
UPL
The agrochemical company in joint venture with CleanMax Enviro Energy Solutions, a Mumbai-based renewable energy company, to establish a hybrid solar-wind energy power plant in Gujarat. The joint venture will set-up and operate a hybrid captive power plant with a capacity of 28.05 MW of solar power and 33 MW of wind power.
Trigyn Technologies
Subsidiary Trigyn Technologies, Inc has received an enterprise task order agreement for providing citywide systems integration services, Class I, from the City of New York (City), Department of Information Technology & Telecommunications. The order is for six years.
Tata Power
Subsidiary Tata Power Solar Systems has received contract worth Rs 612 crore to set up 100 MW ground mounted project for SJVN in Gujarat. The project will get commissioned within 11 months from the date of receiving of letter of award.
MTAR Technologies
The company has received orders worth about Rs 540 crore in clean energy segment including civil nuclear power.
IndusInd Bank
The private lender has approved the reappointment of Sumant Kathpalia as the managing directorate and chief executive officer for three more years subject to the RBI’s approval by the board of directors of the bank at its meeting.
PVR
Three different entities have offloaded 40.45 lakh shares of multiplex operator that are worth Rs 759.14 crore through open market transactions. Plenty Private Equity Fund I offloaded 10,76,259 shares of the firm at an average price of Rs 1,887.04 and Gray Birch Investment sold 22,06,743 shares at Rs 1,871.18 apiece.
Indian Hotels Company
The Tata Group’s hotel operator signed a 129-room Vivanta hotel in Haridwar, Uttarakhand, in management contract with Marvelous Infraestate. Located in SIDCUL (State Industrial Development Corporation of Uttarakhand Limited), Haridwar, the existing hotel will be rebranded to Vivanta post upgradation.
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