GIFT Nifty Opening Update
GIFT Nifty opened today at 24,065.50. It is up 96.00 points (0.40%) from yesterday’s close of 23,932.50 – so the trend is positive.
Investors in the Indian stock market are expected to monitor various companies on Friday, 4 September, in light of significant business developments, order acquisitions, fundraising initiatives, and investment declarations that occurred after market hours. UltraTech Cement, Power Grid Corporation of India, Sterlite Technologies, Solex Energy, CreditAccess Grameen, Innovision, Ramco Systems, and Welspun Investments are among the stocks expected to attract attention.
The Nifty concluded the session on Thursday, 3 September, with a decrease of 0.17% at 23,873, whereas the Sensex ended 0.55% lower at 76,152. Both key indices have now experienced a decline for four consecutive sessions. The broader markets, however, recovered from their earlier losses, with the Smallcap 100 index surging 1.40%, while the Midcap 100 index gained 0.27%. Equities to Monitor:
- UltraTech Cement has declared its foray into the wires and cables sector with the introduction of Ultravolt, supported by an investment of Rs 1,800 crore. The Aditya Birla Group announced that Ultravolt will be integrated within UltraTech Cement, with the objective of positioning itself among the top two competitors in the segment over the next five years.
- Cipla – Invagen Pharmaceuticals Inc., a wholly owned subsidiary of Cipla, has formed a strategic partnership with Qilu Pharmaceutical Co. for the exclusive licensing and supply of QL2107, a biosimilar to Keytruda (pembrolizumab), in the US market.
- Bharat Forge – Kalyani Strategic Systems Ltd., a wholly owned subsidiary of Bharat Forge, has entered into a memorandum of understanding with FN Herstal aimed at advancing local manufacturing and fostering industrial cooperation to meet India’s defence needs.
- Power Grid Corporation of India has been declared the successful bidder for an inter-state transmission project associated with the integration of renewable energy projects in Gujarat. The project carries quoted annual transmission charges of Rs 1,152.49 crore, with the Letter of Intent received on September 3.
- Sterlite Technologies – The board has sanctioned a Rs 3,000 crore capacity expansion initiative at its current manufacturing sites to address the increasing global demand for optical fibre cables and connectivity solutions. The company intends to finance the expansion utilising internal accruals and/or debt.
- Solex Energy has obtained work orders totalling Rs 74.77 crore from domestic entities for the production and supply of solar photovoltaic modules. The orders are set to be executed by December 2026, thereby reinforcing the company’s order pipeline.
- CreditAccess Grameen has successfully raised Rs 300 crore via the private placement of non-convertible debentures. The issue was fully subscribed and bilaterally placed with Barclays Bank PLC, with the funds anticipated to bolster the expansion of the company’s credit offerings in rural and semi-urban markets.
- Innovision has secured a contract valued at Rs 48.25 crore from NHAI for the management of the Mangapatnam Fee Plaza located in Andhra Pradesh. The work encompasses the collection of user fees as well as the maintenance and upkeep of surrounding facilities.
- Ramco Systems has entered into a memorandum of understanding with Safran Helicopter Engines, aimed at facilitating the integration of Safran’s engine data with Ramco Aviation Software. The collaboration is anticipated to diminish manual data entry while enhancing the accuracy and consistency of maintenance operations for helicopter operators.
- Welspun Investments – The company announced that its subsidiary has sanctioned a proposed investment of up to Rs 1,000 crore in Indivara Realty, subsequent to the board’s approval.
- Diamond Power Infrastructure has secured a Letter of Acceptance valued at Rs 76.06 crore from a domestic EPC contractor. This contract pertains to the supply of 66 kV Extra High Voltage underground power cables for a transmission project located in Gujarat.
