Nifty, Sensex Lacking Triggers - Thursday Closing Report

Moneylife Digital Team 05 September 2024

On Thursday, 2255 stocks advanced, 1675 declined and 108 remained unchanged, with an advance decline ratio 1.34 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets. The trend of the major indices on Thursday’s trading is given in the table below.

On NSE, 193 securities advanced and closed at a new 52-week high whereas 18 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Media, Nifty IT and Nifty PSU Bank were among the biggest gainer. Nifty Energy, Nifty Infrastructure Metal and Nifty Auto were among the biggest losers.

Premier Energies (+19.49%) received order for the supply, installation, and commissioning with 5 years comprehensive warranty of 8,085 solar water pumping systems across various districts in Uttar Pradesh. This project, valued at Rs215 crore, is scheduled for completion by March 2025. It received order from Uttar Pradesh Department of Agriculture under PM KUSUM scheme.

Alembic Pharmaceuticals (+2.58%) received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Albendazole Tablets USP, 200 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), LAlbenza Tablets, 200 mg, of Impax Laboratories, Inc. (Impax).

Spandana Sphoorty Financial (-0.25%) raised Rs50 crore through the allotment of 5,000 non-convertible debentures (NCDs) having face value of Rs1,00,000 on private placement basis.

Nazara Technologies (-0.34%) signed a landmark Memorandum of Understanding (MoU) with the Government of Telangana. Through this strategic partnership, Nazara aims to establish a pioneering AI Center of Excellence (AI CoE) focusing on gaming and digital entertainment, positioning Nazara as a leader in AI-driven gaming and digital entertainment space and Telangana as a global hub for AI innovation.

Lupin’s (+0.10%) arm -- Lupin Pharmaceuticals Inc. recalled 4,554 bottles of Cefixime for Oral Suspension in the US market. The US-based arm of the Mumbai-based drug maker is recalling the affected lot of the drug, used to treat bacterial infections, on account of it being ‘Subpotent’.

Goldiam International (+1.00%) received purchase orders of Rs70 crore from a large retailers in USA for diamond studded gold jewellery of which includes 80% of orders of lab-grown diamonds jewellery.

Allied Blenders and Distillers (+1.85%) planned to acquire a majority stake (not less than 80%) of a new company to be formed in collaboration with well-known film celebrity Ranveer Singh (represented by Oh Five Oh Talent Limited Liability Partnership) for undertaking manufacturing, distribution, licensing and marketing of various types of luxury and premium spirits comprising of owned and third party brands.

Prestige Estates Projects (-4.53%) raised Rs5,000 crore by selling equity shares to institutional investors through private placement. The company had launched its Qualified Institutional Placement (QIP) to raise funds on August 29, 2024.

Borosil Renewables (-0.62%) will acquire 49% stake in Clean Max Prithvi (CMPPL) from Clean Max Enviro Energy Solutions (CMEESPL). In this regard, the company, CMPPL and CMEESPL have entered into Share Purchase Agreement. CMPPL would develop and maintain a Hybrid Solar - Wind power plant of 16.50 MW in the state of Gujarat, from which the power generated will be supplied exclusively to the Company as per the Rules of Captive power consumption. This will enable the Company to consume renewable power (as a captive user) generated by CMPPL.