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  1. Markets open higher: Cipla, Adani Power, CDSL to remain in focus in today's trade

Markets open higher: Cipla, Adani Power, CDSL to remain in focus in today's trade

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2 min read • Updated: March 27, 2024, 10:16 AM

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Indian markets opened higher following mixed cues from its Asian peers. Shares of Cipla, Sanofi India, CDSL and Adani Power are expected to remain in focus in today's trade

Indian markets open in positive territory

Indian markets opened positive with 0.4% gains on NIFTY 50 and 0.3% on Sensex. The early gains on the NIFTY50 is led by Reliance (+0.9%), LT(+0.3%), Bajaj Finance (+0.77%), Axis Bank (+0.5%) and Adani Ports (+1.3%).

The Asian markets are trading mixed with the Japanese benchmark index, trading nearly 1% higher, while the Chinese and Hong Kong markets are trading at 0.3% lower. The US markets pared some early gains to close 0.4% lower ahead of key macroeconomic numbers to be released on Friday.

On the commodities front, Brent crude oil prices have cooled off from the recent highs of $87 per barrel mark and are currently trading at $84.9 per barrel, lower by 0.7%. Gold prices are trading stable on the MCX at ₹66,101 levels.

The momentum continues in broader indices as NIFTY midcap 100 and NIFTY smallcap 100 opened 0.5% higher on Wednesday Morning. The midcap index has gained 6.5% from its recent lows, while the smallcap 100 index has gained nearly 8% from the recent lows, showing a strong recovery in broader indices.

Stocks in Focus

CDSL: According to the media reports, Standard Chartered Bank plans to sell its entire 7.1% stake in one of the largest depository companies in India. Following this, CDSL shares are trading at 5.7% lower on the NSE.

Cipla and Sanofi India: The two companies have announced a partnership for the distribution of Sanofi India’s six central nervous system (CNS) products in India. Following this, shares of Sanofi India are trading 2.5% higher at ₹7,905 apiece on the NSE.

In a separate exchange filing, Cipla announced receiving merger approval in the US of its wholly owned step-down subsidiary Cipla Technologies LLC into Cipla USA Inc. Shares of Cipla are trading flat at ₹1,473 apiece on the NSE.

Angel One: The brokerage firm has opened its QIP to raise ₹2000 crore through qualified institutional investors. The floor price for the QIP is set at ₹2,555 apiece. Shares of Angel Broking are trading 0.3% lower on the NSE.

Adani Power: The company has received approval from the Competition Commission of India (CCI) for a 100% acquisition of Amarkantak Power. Following this, shares of Adani Power are trading 2.7% higher at ₹536 apiece.

Indian hotels: The hospitality firm has infused $6.5 million in its Netherland-based subsidiary IHOCO BV. The shares of Indian Hotels are trading 1.7% higher at ₹577 apiece on the NSE.