InterGlobe Aviation and Max Healthcare Institute to replace Hero MotoCorp and IndusInd Bank in the Nifty 50 index, effective Sept. 30
Indian equity markets reversed a six-day gain to end sharply lower on Friday, as sell-offs in financials, metals, FMCG, and energy stocks dragged the market lower. Barring media, pharma, and select consumer durables, all sectors ended in the red.
The broader markets are likely to open flat to negative on Monday, with the Nifty, an early indicator for the Nifty 50 index, down 0.21% to 24,945.5 at 8:30 am IST.
This marks a crucial week for Indian equities as U.S. President Donald Trump-imposed 50% tariffs on Indian goods come into effect from Wednesday. Investors will also be keeping an eye on the developments in ties with China and Russia, ahead of the upcoming Shanghai Cooperation Organisation (SCO) summit later this month.
Stock Watch
Nifty 50 Rejig: InterGlobe Aviation and Max Healthcare Institute to replace Hero MotoCorp and IndusInd Bank in the Nifty 50 index, effective Sept. 30.
Nifty Next 50 Rejig: Hindustan Zinc, Mazagon Dock, Siemens Energy India, and Solar Industries India will be added to the Nifty Next 50, replacing Dabur, ICICI Prudential Life, InterGlobe Aviation, and Swiggy.
Yes Bank: RBI has approved Sumitomo Mitsui Banking Corp’s (SMBC) acquisition of up to 24.99% in Yes Bank, clarifying SMBC won’t be classified as a promoter.
Titagarh Rail Systems: Won a ₹91.12 crore order from Banaras Locomotive Works for WAG-9HC locomotive shell assemblies.
RailTel: Received a ₹13.16 crore order from Rajasthan Skill & Livelihoods Development Corporation for PMC services.
Reliance Communications, Reliance Power, and Reliance Infrastructure: No impact on companies due to criminal investigation against Anil Ambani.
Brigade Enterprises: Launched a ₹950+ crore residential project “Brigade Lakecrest” in Bengaluru and signed a lease for a 7-acre Chennai site for a mixed-use development. CFO Jayant Manmadkar has resigned, with Pradyumna Krishna Kumar appointed as interim CFO, effective Oct. 10.
Interarch Building Solutions: Secured a ₹90 crore order from Rungta Mines to build a pre-engineered steel building system.
IndusInd Bank: Rajiv Anand officially takes charge as the bank’s new MD & CEO.
IDBI Bank: SEBI approves LIC’s reclassification as a public shareholder, with its voting rights capped at 10% and shareholding to be reduced to 15% within two years of IDBI’s disinvestment.
TVS Motor: Shareholders re-appoint Venu Srinivasan as Director of the company.
Falcon Technoprojects: Appoints Mushir Sayed as the new CFO.
Borosil Renewables: Subsidiary GMB Glasmanufaktur Brandenburg files for insolvency, delaying the finalisation and submission of consolidated financial results.
Repco Home Finance: Board approves raising ₹1,500 crore via NCDs and ₹1,000 crore via commercial paper through private placement.
MedPlus Health: Subsidiary Optival Health Solutions receives a four-day suspension of a drug license at one of its Telangana stores.
Akums Drugs: Signs agreement with the Zambian government to set up a drug manufacturing facility, with plans to export to other African nations.
Elpro International: Bought 1.9 lakh HDFC Bank shares worth ₹37.49 crore.
Signpost India: Won exclusive advertising rights at 67 Bangalore Metro stations for 9 years, with revenue potential of ₹600 – ₹700 crore.
GMR Power and Urban Infra: Board approves fundraising of up to ₹3,000 crore via equity, NCDs, and warrants.
Schloss Bangalore: To be renamed Leela Palaces Hotels & Resorts. Re-appoints Anuraag Bhatnagar as Whole-Time Director.
Eris Lifesciences: Receives a GST demand notice linked to its acquisition of Novartis’ Zomelis trademark rights in India.
CEAT: CEAT OHT Lanka signs a $171 million investment pact with Sri Lanka’s BOI, following its acquisition of Michelin’s compact line business.
Earnings Today
M & B Engineering, Valecha Engineering, and White Organic Retail.
For updates and corrections, email newsroom[at]stocktwits[dot]com. <