Adani Enterprises, Infosys, NDTV, Aurobindo Pharma, Eicher Motors, Orient Cement, Dodla Dairy stocks in focus

Adani Enterprises, Infosys, NDTV, Aurobindo Pharma, Eicher Motors, Orient Cement, Dodla Dairy stocks in focus

Indian equity markets may open in green, hinted SGX Nifty ahead of week’s last trading session. Nifty futures were trading 37 points or 0.21% up at 17,606 signalling a positive start for BSE Sensex, NSE Nifty 50. “Markets are showing tremendous resilience amid weak global cues and the recent consolidation should be seen as a breather, to digest the gains. We thus recommend continuing with the “buy on dips” approach. Banking, financials and auto top our list of preferred sectors while the underperformance from the IT pack may continue to hurt. Participants should align their positions accordingly,” said Ajit Mishra, VP – Research, Religare Broking.

Also Read: F&O expiry day: Sensex gives up 59000, fresh uptrend in Nifty likely above 17700 breakout; what dragged D-St?

NDTV: In yet another attempt to thwart Adani Group’s hostile takeover of a controlling stake in New Delhi Television (NDTV), the media firm said transferring its shares would require Income Tax Department’s approvals. On its part, Adani Group termed it as “without merit or basis in law or fact” and an attempt to “inordinately delay” the deal. “The I-T orders only applies to the shares of NDTV held by RRPRH and in no manner restricts it from completing the formalities in relation to allotment of shares to VCPL on exercise of the warrants,” AEL said in an exchange notice, adding NDTV’s contention lacks “bona fides and has no merit or basis either in law or in fact and is misconceived”

Infosys: The IT services company has completed the acquisition of Europe-based life sciences consulting and technology firm BASE life science. BASE further expands Infosys’ footprint in the Nordics region and will bring domain experts with commercial, medical, digital marketing, clinical, regulatory, and quality knowhow.

Aurobindo Pharma: Its subsidiary CuraTeQ Biologics has decided to expand its operations by establishing another mammalian cell culture manufacturing facility of higher capacity to cater to the future requirements. The capital expenditure for ramping up capacities is estimated to be around Rs 300 crore. The facility is likely to be fully operational by FY26. The company plans to enter into contract manufacturing operations (CMO) for biologicals for effective utilization of capacities and augmenting the business prospects in this area as the global biologics contract manufacturing demand is growing at 8 to 10% rate.

Also Read: Adani Enterprises enters Nifty 50

Dodla Dairy: On the NSE, Ashoka India Equity Investment Trust Plc acquired 5,10,300 equity shares in the company via open market transactions at an average price of Rs 509 per share. India Acorn Fund also bought 3.22 lakh equity shares at same price. On the BSE, Plutus Wealth Management LLP bought 7,92,072 shares, and Steinberg India Emerging Opportunities Fund purchased 14,99,999 shares at an average price of Rs 509 per share. However investor TPG Dodla Dairy Holdings Pte. Ltd sold 40 lakh equity shares at same price.

Eicher Motors: Royal Enfield sold 70,112 units in August, registering 53% growth compared to 45,860 units sold in year-ago month. In financial year-to-date, Eicher sold 3.12 lakh units, up 47% over 2.13 lakh units sold in same period last year.

Orient Cement: Soumitra Bhattacharyya has resigned as Chief Financial Officer of the company. He will be relieved from his official duties from close of business hours of September 2.