Nifty, Sensex under pressure - Weekly Closing Report
Moneylife Digital Team 28 January 2023
Major indices plunged this week as the crash in Adani Group shares spread across the board and the banking sector faced the most pressure. This breakdown added to the concerns faced by investors which were already facing challenges from global clues and caution ahead of the Union budget.
 
 
On Monday, the markets inched up as many large companies especially from the financial sector posted better results. On the Bombay Stock Exchange (BSE), 1666 stocks advanced, 1977 declined and 188 remained unchanged with advance decline ratio of 0.84, indicating a negative closing of stocks in broader markets. 
 
On NSE, 43 securities advanced and closed at new 52 week high whereas 65 securities sank to close at their new 52-week lows.  
 
In sectoral indices, Nifty IT, Nifty FMCG and Nifty Pharma were among the biggest gainers. Nifty Infrastructure and Nifty Metal were among the biggest losers. 
 
Indian rupee closed at 81.39/$ against previous close of 81.12/$.
 
Meghmani organics commissioned Phase 1 of Titanium Dioxide plant at Gujarat with an installed capacity of 16,500 metric tonnes per annum (MTPA). The company has planned to double its capacity to 33000 MTPA along with captive power plant at a capex of Rs375 crore. 
 
Marksans Pharma received UK MHRA market authorisation for Fluoxetine oral solution.
 
TCS received deal from Bitcoin Suisse AG for support of digital assets. 
 
SBI has purchased 40% stake in Commercial Indo Bank LLC, Moscow held by Canara Bank.
 
Indigrid Investment Managers has signed share purchase agreement to acquire 100% in Khargone Transmission.
 
Mcleod Russel India approved execution of exclusivity agreement with Carbon Resources.
 
Securities Appellate Tribunal (SAT) has directed NSE to pay Rs100 crore penalty for failing to follow due diligence in the algo scam. 
 
US FDA has issued form 483 with nine observations to Indoco remedies after its inspection of its drug manufacturing facility.
 
Tata motors has partnered with ICICI bank to offer financing for EV dealers.
 
On Tuesday, 35 securities advanced and closed at new 52 week high whereas 53 securities sank to close at their new 52-week lows at NSE.
 
On the Bombay Stock Exchange (BSE), 1534 stocks advanced, 1970 declined and 146 remained unchanged with advance decline ratio of 0.78, indicating a negative closing of stocks in broader markets. 
 
In sectoral indices, Nifty Auto, Nifty IT and Nifty Media were among the biggest gainers. Nifty Energy, Nifty Pharma and Nifty Metal were among the biggest losers. 
 
Indian rupee closed at 81.72/$ against previous close of 81.39/$.
 
Bharti Airtel has hiked minimum pre-paid recharge in 7 more circles. Customers are now required to recharge minimum Rs155 instead of earlier Rs99.
 
Rushil Decor will setup a laminate sheet manufacturing plant with aggregated capacity of 1.2 million sheets per annum in Gujarat.
 
US FDA has classified Torrent pharma’s manufacturing facility at Indrad, Gujarat as official action indicated.
 
Lupin has launched LYFE which is a Digital Therapeutic Solution for Holistic Heart Care.
 
AI Global Investments has acquired 21.1% stake in DFM Foods at Rs467 per share.
 
Delhivery has received a large order from Godrej Appliances for supply chain solutions of their air cooler business pan India.
  
Granules India received USFDA ANDA approval Amphetamine mixed salts ER capsules which are used to treat conditions such as attention deficit hyperactivity disorders and sleeping disorders like narcolepsy.
 
Coal India arm Mahanadi coalfields will setup Rs12,000 crore power plant in Odisha to diversify in to the power generation business. 
 
Saudi Arabia based East pipes integrated has signed contract worth Rs1,243.03 crore with Welspun Corp associate company for supply of steel pipes for water transmission. 
 
In large trades, Archean chemical 15,09,726 equity shares changed hands at Rs622 per share. Nykaa 0.2% equity changed hands at Rs126.85 per share. Reliance 20,80,198 shares changed hands at Rs2396 per share. 
 
On Wednesday, Nifty ended below 17,900 and Sensex slumped 773.69 points. On the Bombay Stock Exchange (BSE), 1120 stocks advanced, 2396 declined and 130 remained unchanged with advance decline ratio of 0.46, indicating a negative closing of stocks in broader markets. 
 
On NSE, 22 securities advanced and closed at new 52 week high whereas 80 securities sank to close at their new 52-week lows.  
 
All the sectoral indices ended in red. Nifty PSU Bank, Nifty Energy, Nifty Media and Nifty Infrastructure were among the biggest losers. 
 
Indian rupee closed at 81.59/$ against previous close of 81.72/$.
 
Ashoka Buildcon has received Letter of allotment worth Rs2,161 crore from NHAI.
 
Happiest Minds has acquired Sri Mookambika Infosolutions for Rs111 crore.
 
Sun Pharma has launched SEZABY in US which is used to treat neonatal seizures.
 
Rail Vikas Nigam has bagged order worth Rs38.4 crore from Southern Railway.
 
Jet Airways lenders challenged ownership transfer to Jalan-Kalrock consortium.
 
SEBI has levied Rs26 crore penalty on Cafe Coffee Day’s parent company.
 
LTIMindtree has partnered with Duck Creek and Microsoft to build a cloud migration solution for insurers. 
 
Teamlease will consider share buyback on February 3.
 
Adani Group stocks fell after a Hindenburg research report raised concern on valuation and debt. Hidenburg has disclosed that it holds short position in Adani group via US-traded bonds and non-Indian traded derivative instrument. Adani Enterprises, Adani Ports, ACC , Ambuja cements, Adani Green Energy,  Adani Wilmar and Adani Total Gas declined sharply today. 
 
Zomato fell sharply as FIIs sold stakes in the company.
 
In large trades, Tata Steel 0.7% equity shares changed hands at Rs120.7 per share. 
 
On Friday, Nifty ended below 17,700 and Sensex slumped 874.16 points on Friday. On the Bombay Stock Exchange (BSE), 887 stocks advanced, 2671 declined and 100 remained unchanged with advance decline ratio of 0.33, indicating a negative closing of stocks in broader markets. 
 
On NSE, 22 securities advanced and closed at new 52-week high whereas 166 securities sank to close at their new 52-week lows.  
 
In sectoral indices, Nifty PSU Bank, Nifty Energy, Nifty Metal and Nifty Infrastructure were among the biggest losers. Nifty FMCG, Nifty Pharma and Nifty Auto were among the biggest gainers.
 
Indian rupee closed at 81.52/$ against previous close of 81.59/$.
 
Adani Group stocks continued its crash after a Hindenburg research report raised concern on valuation and debt. Hindenburg has disclosed that it holds short position in Adani group via US-traded bonds and non-Indian traded derivative instrument. Adani Enterprises, Adani Ports, ACC , Ambuja cement, Adani Green Energy, Adani Wilmar, Adani Transmission and Adani Total Gas  saw a sharp decline today. 
 
SEBI may use the Hindenburg research report on Adani group to aid its ongoing prelim probe in to offshore fund holdings of Adani Group. 
 
Dilip Buildcon has been declared as the lowest bidder for projects worth Rs1,373 crore.
 
USFDA has issued Zero observation to Gland Pharma after inspection at API facility at Visakhapatnam.
 
SJVN sold its entire stake in Bhutanese JV Kholongchhu Hydro Energy for Rs354.7 crore.
 
Dr. Reddy's Labs has launched Difluprednate Ophthalmic Emulsion in the US market.
 
Solara Active Pharma has successfully completed WHO inspection at Cuddalore facility, Tamil Nadu.
 
Greaves Cotton has collaborated with UK based Eta Green Power.
 
USFDA has provided exception to Glenmark Pharma baddi facility to supply Atovaquone Oral Suspension.
 
GRM overseas has forayed in to Agrotech space with its recent MoU with Harvesting India. 
 
ITC has announced an inititative to promote millets in food as a part of its steps to ensure food and nutritional security in the wake of challenges from climate change.
 
Samvardhana Motherson will acquire 51% stake in the Saddles International Automotive and Aviation Interiors. This acquisition will mark company’s foray into the upholstery space. 
 
In large trades, TTK Prestige 0.84% equity changed hands at Rs786.52 per share. Coforge 0.44% equity changed hands at Rs4,276 per share. 
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