Benchmark indices in India took a breather after scaling new highs in the previous week. The Benchmark Nifty closed at 17532.05 levels down by approximately 300+ point for the week. The Sensex closed at 58765.58 levels , approximately 1200+ point down for the week.
Institutional Activities
Significantly, foreign portfolio investors (FPIs) turned net buyers of Indian equities in the week gone by while domestic institutional investors (DIIs) turned net sellers. FIIs net bought Indian equities worth approximately INR 131.39 crore as on 24 September, 2021. And, DIIs net sold Indian equities worth approximately INR 613.08 crore.
HIGHLIGHTS
- Anupam Rasayan India signs a letter of intent with a European customer to supply life science ingredients for Rs 145 crore. The agrochemical company listed on exchanges in March 2021.
- Bharat Petroleum Corporation's Chairman Arun Kumar Singh says the oil and gas company will invest Rs 1 lakh crore in the next five years to raise its petrochemical production capacity.
- L&T is said to be in talks to merge its thermal power business with the Indian unit of Singapore-based sembcorp Industries Ltd.
· Maruti Suzuki India: The company expects adverse impact on vehicle production in Haryana and at its contract manufacturing unit, Suzuki motor Gujarat Pvt Ltd, Gujarat in October due to chip shortage. Total production volume across both the locations to be around 60% of normal production.
- Natco Pharma's marketing partner Breckenridge Pharmaceutical has launched the 10 mg strength of Everolimus Tablets in the US market.
· Whirl pool of India buys an additional 38% stake in kitchen appliances maker Elica PB India for $57 million (RS 420 crore). The consumer electronics company now holds an 87% stake in Elica PB.
