Overnight Digest: Stocks to keep an eye on September 5
Keep an eye on these stocks for Monday's trading session.
At market close on Friday, the markets ended the session on a flat note, owing to mixed global cues.
At the day’s end, Sensex settled at 58,803.33, up by 36.74 points or 0.06 per cent whereas Nifty 50 closed at 17,539.45, down by 3.35 points or 0.02 per cent.
In BSE 100 Group, the stocks of Adani Enterprises, ITC, Pidilite Industries, Bharat Electronics, NTPC, and Federal Bank hit their 52-week high prices today.
Keep a watch on these stocks for Monday's trading session –
Infosys: A renowned technology & consulting company in the life sciences sector in Europe, BASE Life Science, has been fully acquired by Infosys, according to the company's announcement. The acquisition reaffirms Infosys' dedication to assisting international life sciences companies in deriving economic benefits from cloud-first digital platforms & data, accelerating clinical trials, and scaling drug development—all of which, have a positive impact on people's lives and lead to improved health outcomes. BASE will contribute domain professionals with experience in business, medicine, digital marketing, clinical, regulatory, and quality standards, further expanding Infosys' presence in the Nordic region. With a heavy emphasis on data & artificial intelligence, it can bridge and combine business logic with technology to produce insights that lead to better health outcomes. The shares of Infosys closed 0.79 per cent lower on BSE today.
GMR Infrastructure: Aboitiz InfraCapital Inc. (AIC) and GMR Airports International BV (GAIBV), a step-down company of GMR Infrastructure Limited (and a direct subsidiary of GAL), have entered into final agreements for AIC to purchase shares of GMR-Megawide Cebu Airport Corporation (GMCAC). The award-winning Mactan Cebu International Airport is built and run by GMCAC, a joint venture between GAIBV and Megawide Construction Corporation (MCC) (MCIA). The shares of GMR Infra settled 3 per cent higher on BSE on Friday.
IndusInd Bank: To support & promote supply chain finance (SCF) solutions in India, IndusInd Bank and Asian Development Bank (ADB) announced their strategic cooperation. With an initial investment of USD 70 million (Rs 560 crore), the bank along with ADB entered into a partial guarantee programme with the sole purpose of pushing SCF solutions in India. The cooperation will support a number of IndusInd Bank activities in this area as it tries to increase its presence in MSME lending. The bank has started a number of strategic initiatives using SCF as a focal area, including the introduction of new product structures for SCF. Additionally, the bank recently debuted earlyCredit, a cutting-edge digital site for SCF that enables seamless 24-7 processing of SCF transactions for businesses, suppliers, and dealers. The scrip ended lower by 1.04 per cent on BSE today.