Market will open on a negative note today.
Asian stocks slipped at the open as investors assessed heightened geopolitical risks in the aftermath of the strike on Saudi Arabia’s crude production that sent oil prices soaring.
Dow snaps 8-day winning streak on fears spiking oil will slow the global economy. Dow slid by 142 points followed by Nasdaq & S&P 500.
India’s wholesale inflation remained unchanged in August, showed data released by the Government on Monday. Fine print of the data, however, showed that no increase in prices of manufactured products for the first time in over three years, indicating weak demand.
Nifty formed a dragonfly Doji kind of pattern on the daily charts on Monday.
The formation of a Doji pattern after a bullish candle indicates there is some indecisiveness among the bulls as well as the bears. A crucial level to conquer for the Nifty50 will be 11100.
🎯 News & Impact 🎯
🎯 Dr. Reddy :
Company has launched over-the-counter Lansoprazole capsules used for the treatment of frequent heartburn in the US market.
🎯 Tata Power :
Company's subsidiary Tata Power Renewable Energy Ltd (TPREL) has commissioned 150 megawatt (MW) solar capacity project at Pokhran in Rajasthan.
🎯 NBCC :
signed a memorandum of understanding with Utkal University, Odisha for a construction contract worth Rs.390 crore.
🎯 Glenmark Pharma :
Company received orphan drug designation from the U.S. Food and Drug Administration for bispecific antibody for the treatment of multiple myeloma.
🎯 CG Power & Industrial Solutions :
KKR Group acquired a 10 % stake in CG Power & Industrial Solutions for Rs.89 crore via open market transactions
🎯 TCS :
Tata Consultancy Services and General Motors have launched a new partnership with General Motors for Global Vehicle Engineering.
🎯 DLF :
Company has sold nine acres of land to American Express for building its office campus for Rs 288 crore.
🎯 GVK Power & Infra :
Company’s transportation arm has terminated concession agreement with NHAI on account of material breach and defaults on the part of the road authority.
🎯 SMS Pharmaceuticals :
U.S. FDA has issued design for manufacturing information request to the company and requested to prove information to demonstrate that company’s Ranitidine API manufacturing process does not contain N-Nitrosodimethylamine impurity.
🎯 Bayer Cropscience :
Group has closed Monsanto integration in India.
🎯 Lemon Tree Hotels :
Company has signed a license agreement for a 80 room hotel in Durgapur. Hotel is expected to be operational by January 2023.
🎯 Lemon Tree Hotels :
Company has signed a license agreement for a 80 room hotel in Durgapur. Hotel is expected to be operational by January 2023.
🎯 Wipro :
Company has inked a strategic partnership with German based company Industrie 4.0 Maturity Centre for digital solutions.
🎯 Pidilite Industries :
Company has incorporated an arm to carry in business of manufacturing materials used in the construction industry.
🎯 Asian Paints :
Company’s wholly owned subsidiary Asian Paints International, Singapore (APIPL) divested its entire stake in Berger Paints Singapore Pte, wholly owned subsidiary of APIPL to Omega Property Investments Pty Ltd, Australia.
🎯 Rico Auto :
Company closes JV with Singapore's Ultra Fairwood PTE due to lak of clear policies of the Government.
🎯 Hinduja Global Solutions :
The company made an announcement about the launching of HGS Digital, a new practice focused on providing high-end digital strategy and transformative digital-first solutions.
🎯 Mindtree :
The company has signed an agreement with Atotech to help manage their SAP landscape.
🎯 Aurobindo Pharma, Alkem Labs, Hetero, MSN Laboratories, Sun Pharmaceutical and Zydus Cadila : Allergan said proposed generic versions of treatment for irritable bowel syndrome with diarrhea by Aurobindo Pharma, Alkem Labs, Hetero, MSN Laboratories, Sun Pharmaceutical and Zydus Cadila infringe as many as six patents for Viberzi. Allergan is seeking a court order blocking copies until after the patents have expired, and to collect cash compensation if copies are made before then, according to complaint filed Friday in federal court in Wilmington, Delaware.
🎯 Mangalam Cement :
Company promoter Vidula Consultancy Services acquired 1.25 lakh shares on Sept. 12.
Positive for the stock. 👍
🎯 Anant Raj :
Company promoter Ashok Sarin acquired 52,500 shares from Sept. 9-12.
Positive for the stock. 👍
🎯 Jagran Prakashan :
Company promoter group Devesh Gupta acquired 41,600 shares on Sept. 12.
Positive for the stock. 👍
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Edited by Sharp.
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