Nifty, Sensex Move Sideways Amid Mixed Sector Performance – Monday Market Report
Nifty and Sensex traded sideways as IT, Media, FMCG lagged, while PSU Banks, Pharma, and Auto sectors gained; mixed market sentiments on Monday.
On Monday, the Bombay Stock Exchange (BSE) saw a positive breadth with 2,531 stocks advancing, 1,565 declining, and 177 unchanged, resulting in an advance-decline ratio of 1.61, signaling strength in the broader market.
On the National Stock Exchange (NSE), 67 stocks closed at new 52-week highs, while 19 hit new 52-week lows. Sector-wise, Nifty IT, Nifty Media, and Nifty FMCG faced pressure and ended as some of the biggest laggards. Meanwhile, Nifty PSU Bank, Nifty Pharma, and Nifty Auto emerged as top gainers.
Corporate Updates:
Kaveri Seed Company (+2.08%) completed the acquisition of the remaining 30% stake in Aditya Agritech Private Limited, making it a wholly-owned subsidiary. This move is expected to strengthen operational synergies and expand market reach, enhancing innovation in agri-tech offerings.
Page Industries (+0.54%) commenced commercial production at its new 650,000 sq ft manufacturing facility in Ramdaspur Village, Odisha, which includes units for men’s innerwear, socks, elastics, and a raw material warehouse.
Varun Beverages (-1.37%) announced plans to acquire a 50% stake in Everest International Lanka (Private) Limited for $3.75 million. EIL specializes in the production and sale of commercial visi-coolers in Sri Lanka, reflecting Varun Beverages’ strategic intent to diversify and potentially integrate backward in the supply chain.
Interarch Building Solutions (+1.52%) acquired 20 acres in Andhra Pradesh for a new heavy steel structures facility, doubling its adjacent plant’s size. This expansion aims to meet rising demand from data centres, semiconductor manufacturing, and renewable energy sectors.
HFCL (+1.55%) secured new orders worth approximately Rs 76.21 crore ($9.1 million), including a $6.91 million export contract from an overseas telecom company and a Rs 17.02 crore domestic order from ITI Limited. These orders involve the supply of various optical fiber cables.
Cipla (-0.55%) reported that its subsidiary, Citec Labs Limited, received a voluntary action indicated (VAI) classification from the USFDA following a cGMP inspection at its analytical testing facility in Navi Mumbai. The classification indicates minor observations not requiring immediate corrective action.
Max Healthcare Institute (+1.79%) through its subsidiary Crosslay Remedies Limited, finalized the acquisition of land and building in Uttar Pradesh for around Rs 120 crore. The property, near Max Super Speciality Hospital in Vaishali, will enable expansion of approximately 140 beds over the next 30 months.
