Nifty, Sensex may fall further if overseas markets remain weak – Tuesday closing report
We had mentioned in Monday’s closing report that Nifty, Sensex under pressure due to rising bond yields. On Tuesday, the indices opened higher but ended flat. On the NSE, there were 1,142 advances, 756 declines and 86 unchanged.
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
Reliance Industries has initiated the process of carving out its Oil-to-Chemicals (O2C) business into an independent subsidiary. The promoter group will continue to hold a 49.14 percent stake in the O2C business after the re organisation and that the process will result in no change in shareholding of the company.
Cochin Shipyard has been declared as L1 in the tender floated by the Indian Navy for construction of 6 nos. of next generation missile vessels and the estimated total order value is around Rs. 10,000 crore.
Adani Enterprises has formed 50:50 joint venture with EdgeConneX. The JV will develop and operate data centres throughout India, leveraging the two partners complementary expertise and capabilities.
Zuari Agro Chemicals will sell its fertilizer plant at Goa to its group company Paradeep Phosphates on a slump sale basis for an agreed enterprise value of USD 280 million.
UPL announced that a serious fire broke out in its plant in Jhagadia unit in Gujarat which was in shutdown condition. Twenty-one people received treatment at the local hospital and 13 are already discharged with minor treatment. There is no fatality reported.
Generic Engineering Construction and Projects has been awarded with new work worth Rs 41.37 crore from existing reputed client.
Sun Pharmaceutical Industries will introduce the complete range of Brivaracetam dosage forms at an affordable price for epilepsy treatment in India. Brivaracetam is approved by the Drugs Controller General of India as an adjunctive therapy in treatment of partial-onset seizures in patients 16 years of age and older with epilepsy.
Bharat Forge has received an order worth Rs 177.95 crore from the Indian Ministry of Defence for supply of Kalyani M4 vehicles.
Safari Industries (India) has issued compulsorily convertible debentures of Rs. 570 each aggregating to Rs 75 crore which will be convertible to 13,15,790 equity shares of Rs. 2/- each at a price of Rs. 570/- per share on preferential basis to Investcorp Private Equity Fund II.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: