GIFT Nifty Opening Update
GIFT Nifty opened today at 23,106.00. It is down -18.00 points (-0.08%) from yesterday’s close of 23,097.50- so the trend is negative.
Investors in the Indian stock market are expected to monitor a range of companies on Friday, September 25, in light of significant business developments, acquisitions, order wins, project updates, fundraising plans, and strategic initiatives. Dr Lal PathLabs, LCC Projects, Nykaa, Vedanta, and Nava are among the stocks expected to attract attention. Sterlite Technologies, Mayasheel Ventures, and Mahindra Finance are likely to draw interest in light of their recent corporate announcements. During Thursday’s trade, the Nifty 50 plunged 1.64% to settle at 25,169.50, while the Sensex finished at 73,580, down 1.67% from the previous session. The pain was more pronounced in the broader market, with the Nifty Midcap 100 falling 2.57% and the Nifty Smallcap 100 tumbling 2.25%.
Equities to Monitor:
- Dr Lal PathLabs announced its intention to acquire a 70% stake in SN Genelab Private Limited from current shareholders for a consideration of up to Rs 168 crore, supplemented by a potential earn-out of Rs 31.5 crore. Following the acquisition, SN Gene will transition into a subsidiary of Dr Lal PathLabs.
- LCC Projects: The company has positioned itself as the L-1 bidder for the Rs 653.34 crore Chhoti Kalisindh Medium Irrigation Project in Rajasthan. The EPC project encompasses the development of an irrigation system utilising sprinkler technology, complemented by a solar system, situated at the Chhoti Kalisindh and Chahurni rivers in Gangdhar, Jhalawar.
- Financial stocks experienced significant declines in Thursday’s trading session following the proposal of extensive modifications to insurance commission regulations by the Insurance Regulatory and Development Authority of India. It is expected to maintain its concentration on Friday’s trading activities.
- Vedanta has clarified that its ESOS 2026 is entirely performance-linked, devoid of any time-based or guarantyd vesting; further disclosures will be included in upcoming annual reports.
- Sterlite Technologies has announced an expansion of its Neuralis Data Center portfolio, introducing pre-terminated fibre trunk assemblies that range from 48F to 6,912F.
- Nykaa and BOLD, the corporate venture capital fund of L’Oréal, announced a collaboration on Thursday to jointly invest in the next generation of high-growth Indian beauty and personal care brands.
- JSW Cement announced that it has received a Show Cause Notice from the Central Tax department concerning an alleged short payment of GST attributed to incorrect classification. The proposed demand amounts to Rs 229.85 crore, in addition to applicable interest and a 10% penalty, covering the period from April 2022 to March 2024.
- Nava: The company announced that its step-down subsidiary Maamba Solar Energy has successfully commissioned a 100 MW solar power plant in Zambia, with the process of power evacuation to the Zambian grid now in progress.
- Mayasheel Ventures has obtained a work order valued at Rs 17.94 crore from A&T Infracon for the manufacture, supply, erection, and delivery of precast RCC box culverts in the Jammu sector.
- Mahindra & Mahindra Financial Services: The company’s Debenture Issuance Committee has sanctioned the issuance of up to Rs 2,000 crore of secured, rated, listed, and redeemable non-convertible debentures via private placement.
