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Market Updates

The Markets are expected to open marginally lower today as trend in SGX nifty indicate a negative start for the broader index after Nifty closed 231.9 points lower at 19,901.4 on Tuesday

Infosys:

The IT major has tied up with NVIDIA to develop generative AI applications and solutions. The broadened alliance brings together Nvidia AI Enterprise and Infosys Topaz, an AI suite of services that was introduced earlier this year. The companies will collaborate to train 50,000 Infosys employees on NVIDIA AI.

SBI, KFin Technologies:

The state-run lender has appointed KFin Technologies as the Registrar and Share Transfer Agent (RTA) in place of existing RTA Alankit Assignments. The formalities for the change of RTA relating to documentation, shifting of electronic connectivity, and transition of data are in process.

REC:

Kallam Transco has been incorporated as a wholly-owned subsidiary of REC Power Development and Consultancy. The company also announced the sale of Beawar Transmission to Sterlite Grid 27, comprising 50,000 equity shares. Sterlite was the successful bidder selected through a tariff-based competitive bidding process to establish an inter-state transmission system for REZ in Rajasthan under Phase III

Cipla:

An inspection was conducted by the USFDA at the manufacturing facility of unit InvaGen Pharmaceuticals Inc. in New York from Sept. 11 to 13. InvaGen has received five inspectional observations in Form 483. There are no repeat or data integrity (DI) observations

InterGlobe Aviation:

Rival Akasa Air was forced to thin out its schedule after some pilots left and joined bigger competitors, reported Bloomberg. The market share of Akasa dropped to 4.2% in August from 5.2% the month before.

SJVN:

The Power Ministry will sell up to 2.46% of the stake, or 9.66 crore shares, via OFS. The floor price of OFS is set at Rs. 69 per share. OFS is to open on Sept. 21 for non-retail investors and Sept. 22 for retail investors. OFS has the oversubscription option to sell an additional 2.46% stake.

Ex-date Dividend: Gufic Biosciences, La Opala RG, Shakti Pumps (India), Genus Power Infrastructures, LT Foods, Ashiana Housing, Poly Medicure, Tilaknagar Industries, SJVN, Cochin Shipyard, Krishana Phoschem, Power Mech Projects, Olectra Greentech, Carysil, Force Motors, Patanjali Foods, Harsha Engineers International, Chaman Lal Setia Exports, HLE Glascoat, Asian Star Co, Swan Energy.   

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