Stocks in focus: GIFT Nifty traded in the red at 19,857.5, down by 48 points or 0.24% during Thursday’s early trading session, indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex. On Wednesday, September 20, the NSE Nifty 50 plunged 231.90 points, or 1.15%, to end the trading session at 19,901.40, while the Sensex tumbled as much as 796 points, or 1.18%, to 66,800.84.
“The domestic markets remained under pressure due to rising US bond yields and a stronger greenback. Concerns reigned over upcoming FED policy, interest rate trajectory and rising oil prices. Bank Nifty underperformed today due to rising cost of funds and reduction in deposits leading to moderation in net yield,” said Vinod Nair, Head of Research at Geojit Financial Services.
Infosys
The Indian IT giant has expanded its strategic partnership with the USA-based NVIDIA. The partnership is aimed at driving productivity gains with generative AI applications and solutions. Infosys will train 50,000 employees on NVIDIA AI technology.
SJVN
The Indian government plans to sell a 2.46% stake in the hydroelectric power generation company by offering up to 966,729,622 equity shares for sale on both September 21 and 22. There is also an option to further sell an additional 966,729,621 equity shares.
Cipla
InvaGen Pharmaceuticals Inc. ‘s manufacturing facility in Central Islip, New York, has received five inspectional observations in Form 483 from the US FDA after they conducted an inspection at the manufacturing facility of unit InvaGen from September 11 to 13.
Coal India
The Indian PSU giant announced that the company has been served a three-day strike notice by central trade unions.
RR Kabel
The Indian government pension fund bought 20 lakh shares at Rs 1,180 per share.