The Indian market ended down almost 1% on Wednesday, following weak global signals and continued outflows of foreign funds. Sensex fell 509.24 points or 0.89% to 56,598.28. During the day, it lost 621.85 points or 1.08% to 56,485.67. Nifty fell 148.80 points or 0.87% to close at 16,858.60. ITC, Axis Bank, Reliance Industries, Tata Steel, IndusInd Bank, State Bank of India, HDFC and HDFC Bank were Sensex’s biggest losers, falling to 2.97%.
Here’s a look at the stocks that should stay in the news today.
Vodafone idea: Mobile tower giant Indus Towers has asked debt-ridden Vodafone Idea to settle arrears and pay each month on time for business continuity after November, according to reports. The development comes after independent trustees raised concerns over rising contributions from Vodafone Idea (VIL).
Ambuja cements: The large cement company controlled by the Adani Group, led by billionaire Gautam Adani, said it had created NDU a stake of more than 50% in its subsidiary ACC Ltd as collateral for loans taken by the company. The company created a non-disposable business (NDU) on 9.39 crore shares of ACC Ltd on September 26, 2022.
Anupam Rasayan India: The chemical company opened its qualified institutional placement number on September 28 after the approval of the preliminary placement document. The floor price was set at Rs 762.88 per share. It can offer a discount of up to 5 percent off the floor price.
Blue Dart Express: The logistics solutions provider announced an average shipping price increase of 9.6% for 2023 compared to 2022. The price increase will take effect on January 1, 2023. ITI: The telecommunications equipment company received Rs 80 crore against allotment of shares to the Government. The Board of Directors has authorized the allotment of 77,33,204 shares at Rs 103.45 per share to the President of India.
Supriya Life Sciences: The pharmaceutical company has received certification for the suitability of diphenhydramine hydrochloride, API in antihistamine treatment, from the European Directorate for the Quality of Medicines and Healthcare (EDQM).
Gensol Engineering: The advisory service provider said the board had approved the preferential allotment of 12,81,993 shares at the issue price of Rs 1,036.25 per share. With this, it raised Rs 132.84 crore via preferential issuance.
Essar Expedition: The shipping company said the board has authorized the appointment of Vipin Jain as the company’s chief financial officer. The appointment will be effective from October 1, 2022. Ranjit Singh has decided to step down as Chief Executive Officer due to a personal occupation.
Hindustan copper: The state-owned metals miner has approved a dividend of 23.2% for the financial year ending March 2022. The company will pay a total dividend of Rs 112.17 crore, as approved at the 55th Annual General Meeting ( AGM).