Stock Market Today: High-weightage financials and information technology stocks led the decline in Indian shares on Tuesday’s closing price as consolidation persisted ahead of the fiscal year’s end. The GIFT Nifty on the NSE IX might move down on Wednesday. The benchmark Sensex index for the BSE fell 362 points, or 0.50%, to close at 72,470. The whole NSE Nifty closed at 22,005 after falling 92 points, or 0.42%. The Indian rupee rebounded from historic lows last week, closing Tuesday higher thanks to possible central bank assistance and an increase in Asian peers. In relation to the US dollar, the rupee closed at 83.28, up about 0.2% from the previous session’s close of 83.4250. At 83.43, the rupee has reached its all-time low.
Stock Market Today: Stocks in focus
Adani Ports
According to a ruling by the antitrust watchdog, the Competition Commission of India approved Adani Power’s acquisition of Lanco Amarkantak Power on Tuesday. As to the CCI, Adani Power plans to obtain complete ownership and management of the insolvent Lanco Amarkantak through a corporate insolvency resolution procedure (CIRP). According to reports, Adani Power won the Rs 4,101 crore bid for the indebted company last month.
Cipla
An exclusive partnership between Sanofi India and Sanofi Healthcare India and Cipla has been announced for the marketing and distribution of six of Sanofi India’s central nervous system (CNS) medications in India. Among them is Frisium, a leading brand in the anti-epileptic drug market. More on Cipla: the US regulatory body has given the company permission to combine Cipla Technologies LLC and Cipla USA Inc. with effect from March 31, 2024. These are Cipla’s wholly owned indirect subsidiaries operating in the United States.
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