Indices at previous closing
Nifty50: 17,323 ▲ +89 (+0.5%)
Sensex: 58,129 ▲ +277 (+0.4%)
Nifty Bank: 36,761 ▼ -70 (-0.1%)
In the news
JSPL sells majority stake in Jindal Power
Jindal Steel and Power has received the approval of its investors to sell 96.42% stake in Jindal Power to Worldone, its promoter-owned company. The sale will be made for a sum of ₹7,401 crore.
The deal will reportedly allow the company to remove about ₹6,566 crore worth of debt from its books, strengthening its balance sheet. The stock closed nearly 4% higher on Friday, but the news of the stake sale came after market hours.
Dr Reddy’s sells its anti-cancer agent
The pharma major has said it sold its rights for an anti-cancer agent to US-based Citius Pharmaceuticals. Overall, the Indian pharma company will receive up to $150 million (~₹1,100 crore) in three tranches from this sale.
It will also receive certain sales-based milestones and earn-out payments. In March 2016, Dr Reddy's bought exclusive global rights (excluding Japan and Asia) for the anti-cancer agent from Japan-based Eisai Co. Shares of the company were up 0.8% on Friday but the announcement was made on Saturday.
Barbeque Nation raises fresh round
The restaurant chain has raised ₹100 crore from three investors via a preferential issue.
The investors will be allotted shares at ₹849 per share, a discount of 24% versus Friday’s closing price. The stock has returned over 122% since its listing in April.
Sectoral indices (September 6)
| Top gainers | Top losers |
| Nifty Media ▲ 1.4% |
Nifty Private Bank ▼ 0.2% |
| Nifty Metal ▲ 1.1% |
Nifty Bank ▼ 0.1% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.2% |
| Nikkei 225 (Japan) |
▲ 1.6% |
| Hang Seng (Hong Kong) |
▲ 0.4% |
| SSE Composite (China) | ▲ 0.4% |
| Dow Jones (US) (September 6) |
▼ 0.2% |
| NYSE (US) (September 6) |
▼ 0.1% |
| Nasdaq (US) (September 6) |
▲ 0.2% |
| S&P 500 (US) (September 6) |
▼ 0.0% |
Fact of the day
The bridge in Sri Lanka, used in the iconic movie "The Bridge on the River Kwai" was built by L&T. The construction major also built attractions such as the 182 meter Statue of Unity and the Lotus Temple in India.
Source: Linkedin
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