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Equity benchmark indices Sensex and Nifty are expected to start on a tepid note ahead of weak global cues. The domestic indices closed on a flat note in the last session, with Sensex gaining a mere 33 points, while Nifty was up by 19.5 points. At 8 a.m. the Gift Nifty futures hinted at a 50-point gap down on the Nifty, on quoting around 22,405-odd levels.
Investors are expected to pick on negative sentiments in the Asian as well as US markets. In Asia, Japan’s Nikkei index fell below the 39,900 mark after slipping nearly 2.40 per cent on Monday morning. South Korea’s Kospi started off the week in red, with the index falling by 0.21 per cent.
Meanwhile in the US, the S&P 500 index fell by 33.67 points, or 0.65 per cent, and the Nasdaq composite declined by 166 points, down 1.16 per cent from its previous close.
Stocks that may see action today:
Torrent Power: Torrent Power has received a letter of award (LoA) from Maharashtra State Electricity Distribution (MSEDCL) for setting up of a 306 MW grid-connected solar power project at Nasik in Maharashtra.
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Vedanta: The company received an administrative warning from capital markets regulator Securities and Exchange Board of India (SEBI) for "publishing information related to its unlisted ultimate holding company".
InterGlobe Aviation: The aviation giant’s promoter Rakesh Gangwal and entities are likely to sell over 3 per cent stake in the company through block deals today.
According to reports, Gangwal could sell a 3.3-per cent stake (130 million shares) in IndiGo to raise around $450 million.
JM Financial: Sebi prohibited the parent company JM Financial from acting as the lead manager for any new debt public issue. It said JM Financial will no longer be able to act as a lead manager for any public debt issue. However, it has been allowed to continue as lead manager for existing debt public issue mandates for another 60 days.
Rail Vikas Nigam: Rail Vikas Nigam Ltd has received multiple orders from Himachal Pradesh State Electricity Board Ltd and from Madhya Pradesh PoorvKshetra Vidyut Vitaran Company Ltd, Jabalpur, for the supply, installation, testing and commissioning of 11 KV Line associated works.
HG Infra Engineering: The company has been declared an L1 bidder for a road project worth Rs 610 crore by NHAI. The work includes the construction of a 4-lane elevated corridor in Jharkhand.
TVS Motor Company: TVS has announced its arrival in France by partnering with 100-years-old distribution enterprise Emil Frey. TVS showcased its product range for Europe, displaying its variety of bikes and e-scooters for the European market.
Coal India: The company signed an MoU with Rajasthan Rajya Vidyut Utpadan Nigam to meet the growing power demand of the state. Under the MoU, the initial focus is expected to be on exploring possibilities of setting up of 4100 MW projects through a JV.
Sonata Software: The company has announced the integration of Sonata Harmoni.AI with the Microsoft Azure AI service. Sonata’s AI offering provides industry solutions, service delivery platforms, and accelerators. Using Microsoft Azure AI services, Sonata Harmoni.AI will fuel the institutionalisation of generative AI solutions and enhance operational efficiency.
Exide Industries: India's leading battery maker, Exide Industries Ltd has invested an additional Rs. 40 crore in its advanced battery manufacturing arm, Exide Energy Solutions Ltd through a rights issue. The company received approval from the NCLT for the scheme of amalgamation between its wholly owned subsidiaries, Exide Energy Solutions and Exide Energy.
