Trading in the Indian equity market will resume on Tuesday after domestic stock exchanges remained closed on Monday. Ahead of the session, GIFT Nifty was trading in the green, indicating a firm opening for the market.
At around 7:30 am, GIFT Nifty was up 85.50 points, or 0.36%, at 23,529.
According to market experts, if the Nifty sustains its position above 23,500, it could move towards 23,650 in the coming session. If it fails to sustain above this level, consolidation could take place in the 23,230-23,500 range. Several company-specific developments are also likely to influence the movement of individual stocks during the session.
HDFC Bank will remain in focus after the bank’s board approved the names of two candidates, along with their proposed remuneration, in order of preference for appointment as Managing Director and Chief Executive Officer (MD and CEO).
The appointment will be for a three-year term. However, the final appointment will require approval from the Reserve Bank of India.
Solar Industries India’s subsidiary Solar SA Investments Proprietary has entered into definitive agreements to acquire all outstanding shares of Omnia Holdings for approximately US$1.355 billion, or around ₹12,951 crore.
Omnia Holdings is an internationally diversified group providing products, solutions and services to the mining and agriculture sectors. The acquisition will keep Solar Industries in focus in the stock market.
KEC International has received new orders worth a total of ₹1,303 crore for Transmission & Distribution projects in India, the Middle East and the United States.
Several pharmaceutical companies have reported regulatory developments.
The USFDA conducted a routine cGMP inspection of Strides Pharma Science’s Alathur formulation facility in Chennai between September 2 and September 11. Following the inspection, the company received a Form 483 containing three observations.
At Dr Reddy’s Laboratories’ API manufacturing unit in Mexico, the USFDA completed a records review and issued Form FDA 2953 with two observations.
The USFDA also inspected Aurobindo Pharma’s API manufacturing facility in Srikakulam, where no observations were reported.
Sun Pharmaceutical Industries’ US subsidiaries entered into a settlement agreement with one plaintiff for a confidential amount in the Generic Pharmaceuticals Pricing Antitrust Litigation matter pending in Pennsylvania.
Jubilant Pharmova said it received information from the USFDA regarding the completion of the EIR review of its CMO facility in Spokane. The facility has been classified under VAI, or Voluntary Action Indicated.
Lalithaa Jewellery Mart reported a 21.6% decline in profit to ₹208.2 crore, while revenue increased 26% to ₹6,031.2 crore.
Nova Iron & Steel reported a 61.1% decline in profit to ₹0.86 crore, while revenue fell 40.3% to ₹67.5 crore.
Cochin Shipyard entered into a Joint Venture Agreement with Drydocks World Dubai-FZCO during the BRICS Summit 2026.
Greenply Industries announced a proposed capital restructuring for its joint venture, Greenply Samet.
Raymond’s aerospace subsidiary received a major new contract from a leading Indian aerospace and defence company. The contract covers more than 300 part numbers and over 37,000 components annually, with estimated annual business of around ₹33 crore.
TVS Motor expanded its Apache motorcycle range in Sri Lanka.
HDFC Life Insurance received a major GST-related order confirming a demand of ₹3,365.15 crore, including interest and penalty.
