Indian stock markets were volatile in opening trade on Monday, i.e. 26 August, as the positive sentiment created by finance minister Nirmala Sitharaman’s measures to boost economy was offset by negative global stocks due to escalating trade tensions between the US and China. At 10:33 am, the S&P BSE Sensex was trading at 36,691.21, down 10 points, or 0.03%. The Nifty 50 index was, meanwhile, trading down 3 points, or
0.03%, at 10,826.30. Tata Motors, CG Power, Adani Ports, IndiGo and Lakshmi Vilas Bank were among the key stocks in focus today. Read on to know more:
Tata Motors: Tata Motors shares shed as much as 3.8% after a media report said that the company has indefinitely deferred a planned fundraise of up to $1.5 billion in foreign currency loans after failing to garner sufficient interest from potential lenders.
CG Power: CG Power and Industrial Solutions Ltd shares tumble nearly 10% on reports that investors and lenders to the company want Gautam Thapar to be removed as chairman after an investigation unearthed a multi-crore financial scam in the firm.
Adani Ports: Adani Ports and Special Economic Zone Ltd shares gain as much as 7% as the company’s buyback offer is set to open from 6 September to 20 September. InterGlobe Aviation: Shares of InterGlobe Aviation Ltd, which operates IndiGo, rise 2.5% after promoter Rakesh Gangwal said the company’s board has approved a new policy on related-party transactions, ending his tussle with co-promoter Rahul Bhatia over governance issues.
Lakshmi Vilas Bank: Lakshmi Vilas Bank Ltd shares jumped 5% in early trade as the board is set to consider raising funds via equity, debt on 28 August. The stock, however, later pared gains to trade flat
Glenmark Pharma: Glenmark Pharmaceuticals Ltd shares fall 2.3% after the company denied a media report of selling 30% stake in API business to PremjiInvest.
Ipca Laboratories: Ipca Laboratories Ltd shares gain 1% even as the US FDA conducted an inspection of its formulations manufacturing unit in Silvassa and issued three observations.
Alkem Laboratories: Alkem Laboratories Ltd jumps 2.4% as it cleared the US FDA inspection for its Baddi facility.