TCS wins new order, Cipla falls on USFDA observations & more

NIFTY50: 19,742 ▼ 159 (-0.8%)
SENSEX: 66,230 ▼ 570 (-0.8%)

• Benchmark indices slumped for the third straight session this week 
• In all, 34 of the NIFTY50 stocks closed in the red
• The Bank of England kept its key policy rate unchanged at 5.25%, the first pause in policy rates in nearly two years

Among the NIFTY sectoral indices, Media (+0.03%) was the sole gainer, while PSU Bank (-2.2%) and  Auto (-1.6%) were the top losers.

What's Up

What's Down

Market Sentiment

Stock Buzz

⭐ TCS secures new order 

The IT major has secured a new order from UK-based home improvement company, Kingfisher Plc. As part of the deal, TCS will implement its AI-powered unified commerce platform TCS OmniStore across  Kingfisher Plc stores. This is the second order TCS has secured this week. Earlier, TCS was selected as a strategic partner by Norway-based BankID BankAxept AS to implement its critical financial infrastructure.

⭐ Cipla shares fall after USFDA observations 

Cipla shares declined 2.4%, closing at ₹1,209 apiece, after its US-based wholly owned subsidiary InvaGen Pharmaceuticals received five inspectional observations from the United States Food and Drug Administration (USFDA).

⭐ Apollo Tyres shares skid on production halt  

Apollo Tyres shares closed down by 2.8% after the company announced a temporary halt in tyre production at its Gujarat plant. This production halt comes amid concerns from shop-floor employees over the renewal of a long-term settlement agreement. However, the company said it is negotiations with the labour union and there is no material impact on the operations at this stage. 

⭐ BLS International suspends Indian visa services in Canada 

Shares of the visa services provider plunged 2.4% today after company suspended services in Canada with immediate effect due to operational reasons. As per the company, the impact of this move will be negligible as the Canadian visa issuance business contributes less than 2% to its overall revenue.  

⭐ Sheela Foam slides on discounted QIP pricing 

Shares of mattress maker Sheela Foam declined 3.5% as the company launched its proposed qualified institutional placement (QIP) at a floor price of ₹1,133.99 per share. The company plans to raise up to ₹1,200 crore. Today’s fall was likely due to the fact that the QIP floor price has been set at a discount of 3% to Wednesday's closing price. As per reports, the company is raising funds to finance its proposed acquisition of rival Kurlon Enterprises.

IPO Corner

⭐ The ₹730 crore IPO of Signatureglobal India, a real estate development company, witnessed a total subscription of 1.6 times on its second day. Meanwhile, the ₹1,201 crore IPO of Sai Silks (Kalamandir) was subscribed 33% on Day 2. Tomorrow is the last day to apply for these two IPOs. To know more and apply for these IPOs, click here.

⭐ EMS Ltd listed at a 33% premium over its issue price. Shares of the sewerage solutions provider started trading at ₹282 on the NSE, well above the issue price was ₹211.

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