The Indian market ended up falling for the seventh consecutive session on Thursday due to weak global cues and continued foreign fund outflows. The Sensex dropped by 188 points to 56,409 at the end of the day. The global weakness trimmed gains on Indian indices in the afternoon, with Nifty closing 40 points lower at 16,818. Asian Paints, Tech Mahindra, Titan, Kotak Bank and Bajaj Finance were the top Sensex losers, falling up to 4.55 per cent. ITC, Dr Reddy's and Tata Steel were among the top Sensex gainers, rising up to 2.51 per cent.
Here's a look at stocks that are likely to remain in news today.
The two-wheeler major said it would invest $60 million in US-based Zero motorcycles to develop electric motorcycles. It is finalising a collaboration agreement with the California US-based manufacturer of premium electric motorcycles and powertrains.
Adani Ports and Special Economic Zone: The Adani Group's port firm said it had a wholly owned subsidiary, Adani Aviation Fuels AAFL. They are responsible for the business of sourcing, transporting, supplying and trading aviation related fuels. APSEZ said that AAFL will start its business operations in due course.
The Indian Oil Corporation: The state-owned oil firm has a wholly owned subsidiary that can carry out finance activities such as fund pooling and treasury operations. The board of directors of the International Financial Services Centre IFSC in Gift City has approved the formation of the subsidiary finance company and opened its office in the International Financial Services Centre IFSC in Gandhinagar.
Adani Green Energy: The renewable energy firm said it has commissioned the world's largest wind-solar power plant of 600 MW capacity in Jaisalmer, Rajasthan. The plant has a power purchase agreement with Solar Energy Corporation of India SECI, which has a power purchase agreement of Rs 2.69 kwh for 25 years.
Lupin: The United States Food and Drug Administration USFDA approved the abbreviated new drug application ANDA Mirabegron extended-release tablets, to market in the US. Mirabegron is a generic equivalent of Myrbetriq extended-release tablets of Astellas Pharma Global Development.
Adani Power: Fair trade regulator Competition Commission of India has cleared the acquisition of 100 per cent of Diliigent Power and DB Power by Adani Power. The proposed combination involves the acquisition of the 100 percent of the share capital and economic rights of Diliigent Power and DB Power by Adani Power.
The Punjab National Bank has decided to sell its stake in Asset Reconstruction Company ARCIL at an agreed price. Its shareholding in ARCIL is 10.01 per cent as of now.
The auto component group has appointed K Mahendra Kumar as the group's chief financial officer. He joined Tube Investments of India where he was an Executive Vice President and Chief Financial Officer for over five years.
The GST Intelligence, a law enforcement agency, has found tax evasion of Rs 824 crore by 15 insurance companies, multiple intermediary marketing companies, multiple non-banking financial companies NBFCs and banks. They are accused of availing of the ITC's input tax credit without the underlying supply of goods and services. Sources in the DGGI Directorate General of GST Intelligence said on Thursday that the probe started after specific information against ICICI Prudential Insurance regarding availing ineligible credit.
The board of directors of the company have cleared the merger of the company's partnership interest in Ahmedabad East Infrastructure LLP AEI LLP from 51.43 per cent to 55.24 per cent and profit sharing in AEI LLP from 94.2 per cent to 98 per cent upon the acquisition of the entire partnership, according to Arvind SmartSpaces.