ACC, Ambuja Cements, Adani Green, Adani Total Gas, Indian Hotels, Amber Enterprises, UPL: Check top buzzing stocks of the day

At 01:01 pm, the S&P BSE SENSEX was trading at 77,021.87 levels, down 557 points, or 0.72%, while the broader NIFTY50 index was trading at 23,312.25, down 206 points, or 0.88%. 

The stocks nosedived as Gautam Adani, the billionaire chairman of the Adani Group and one of the world's richest people, has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme.

Among individual names, Adani Energy Solutions was locked in the 20% lower circuit at ₹697.70 on the BSE. Adani Ports was frozen at a 10% lower circuit at ₹1160.15. Shares of Adani Wilmar were down nearly 8% at ₹301.60 apiece on the BSE, while those of Adani Power were trading around 11% lower. 

Adani Infra, a unit of Adani Group's flagship firm Adani Enterprises, will buy the shares from Prahladbhai S Patel, who leads PSP Projects and is its top shareholder, the construction firm said in a stock exchange filing.

The Tata Group company announced its comprehensive strategy for 2030. Under the plan, IHCL will expand its brandscape, deliver industry-leading margins, double its consolidated revenue with a 20% return on capital employed, and grow its portfolio to 700+ hotels while building on its world-renowned service ethos. 

Strides Pharma Science: Strides Pharma Science shares were trading 7% higher at ₹1,485.80 apiece on the BSE after the National Company Law Tribunal (NCLT) gave the nod for the scheme of arrangement to create OneSource.

The creation of OneSource will incorporate specialised businesses of Strides, Steriscience, and the high-end biologics CDMO business from OneSource (formerly Stelis Biopharma Limited). 

On Tuesday, UPL and Alpha Wave Global, a leading global investment firm, announced the signing of definitive agreements under which Alpha Wave Global will invest US$ 350 million to acquire approximately a 12.5% stake in Advanta Enterprises Limited (“Advanta” or “the Company”), a subsidiary of UPL and a leading global seed company that delivers innovative farming solutions and technology to farmers around the world.