Nifty, Sensex move will depend on global reaction to US Fed meeting – Weekly closing report
Moneylife Digital Team 27 August 2021
We had mentioned in previous week’s closing report that Nifty, Sensex may remain under some pressure. The major indices rallied this week and ended with major gains.
 
The trend of the major indices in the week is given in the table:
 
 
On Monday, the indices opened higher and ended with minor gains. On the NSE, there were 443 advances, 1,622 declines and 3 unchanged.
 
Market regulator SEBI has temporarily halted the Rs 4,500 crore IPO of Adani Wilmar due to an investigation against Adani Enterprises. 
 
Aurobindo Pharma cancelled its Rs 450-crore deal to acquire a 51% stake in Cronus Pharma Specialities India Pvt Ltd.
 
Cadila Healthcare has received the Emergency Use Authorization (EUA) from the Drug Controller General of India (DCGI) for ZyCoV-D.
 
GAIL India will foray into hydrogen generation and take the acquisition route to scale up its renewable energy portfolio as it pivots business beyond natural gas to align with the energy transition being witnessed across the globe.
 
On Tuesday, the indices opened higher and ended with decent gains. On the NSE, there were 1,505 advances, 488 declines and 5 unchanged.
 
Bajaj Finserv received in-principle approval from the Securities and Exchange Board of India (SEBI) for sponsoring a mutual fund. 
 
Finance Minister Nirmala Sitharaman during her meeting with Infosys MD and CEO Salil Parekh asked the software major to resolve the issues faced by the taxpayers on the Income Tax e-filing portal by September 15.
 
Maruti Suzuki was fined for Rs 200 crore by the Competition Commission of India (CCI) for anti-competitive practices.
 
Indian Hotels will come out with a Rs 3,000-crore rights issue, making it the biggest fund-raising activity by the Tata Group company in the recent past.
 
On Wednesday, the indices opened higher but lost all gains and ended flat. On the NSE, there were 1,261 advances, 718 declines and 80 unchanged.
 
Adani Ports received the Andhra Pradesh government's approval for acquiring a stake in Gangavaram Port.
 
Canara Bank approved the allotment of more than 16.73 crore shares in a Rs 2,500-crore qualified institutions placement (QIP). Rakesh Jhunjhunwala picked a 1.59% stake in the bank.
 
Allied Digital won a six-year contract valued at USD 88 million to transform IT operating model and infrastructure landscape across workplace management for a global automotive giant.
 
Borosil Renewables board approved to raise up to Rs 500 crore through various instruments.
 
On Thursday, the indices opened higher but ended flat. On the NSE, there were 1,005 advances, 989 declines and 5 unchanged.
 
Procter & Gamble Hygiene and Health Care reported net profit of Rs 48.98 crore for the quarter ended 30 June 2021, down 29% from 69.21 crore in the corresponding period of the previous financial year (YoY). Revenue grew 24% to Rs 787 crore from Rs 635 crore YoY. 
 
Future Retail announced the appointment of Sadashive Nayak as the CEO the company with immediate effect.
 
Kaveri Seed Company board approved a proposal to buy back equity shares worth up to Rs 120 crore at a maximum price of Rs 850 each.
 
Thermax subsidiaries Thermax Babcock and Wilcox Energy Solutions have bagged Rs 293 crore order for a refinery and petrochemical complex in western India.
 
On Friday, the indices opened lower but rallied and ended with minor gains. On the NSE, there were 1,194 advances, 748 declines and 3 unchanged.
 
BHEL signed an MoU with JSC Rosoboronexport for implementing possible joint projects and activities for the production of spare parts and components for Russian-origin equipment installed onboard the Indian Navy aircraft carrier Vikramaditya, maintenance of its systems and equipment and on other issues of mutual interest.
 
Wockhardt promoter Themisto Trustee Company pledged 22.27 lakh shares of the company. With this, the quantum of the pledged shares risen to 26.92%.
 
Computer Age Management got the nod to set up an office at GIFT city to provide asset management support (AMS) services to financial institutions.
 
Apollo Micro Systems bagged an order for supplying security and surveillance systems worth Rs 59.62 crore.
 
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