NTPC, Adani Ports, IndiGO, JSW Group and other stocks in news today

NEW DELHI: Indian equities continued to fall on Monday. The Nifty and the Sensex closed 0.67% lower each. The rupee plunged to 77.46 against the dollar on Monday after hitting a record low of 77.52 in intraday trading, as foreign investors continued to pull money from Indian assets as the dollar strengthened after the US Federal Reserve raised interest rates.

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation.

The world’s largest cryptocurrency by market value fell as low as $29,764 in Tuesday trade, before recovering above $30,000, extending a recent collapse in price as investors desert assets viewed as risky Corporate results: Gujarat Gas, Adani Ports, Asian Paints, Cipla, Vodafone Idea, Ajanta Pharma, Cera Sanitaryware, Chalet Hotels, Chemplast Sanmar, Dishman Carbogen Amcis, Elantas Beck India, Electrosteel Castings, Kansai Nerolac Paints, Max Financial Services, Mahanagar Gas, MRF, Polycab India, Neuland Laboratories, Orient Electric, Reliance Capital, R Systems International, Shemaroo Entertainment, Tajgvk Hotels & Resorts, TD Power Systems, Torrent Power, Venky’s (India), and Welspun India will release quarterly earnings on May 10.

Indian metals-to-cement conglomerate JSW Group will make a $7 billion bid for Holcim AG’s Indian subsidiaries Ambuja Cements Ltd and ACC Ltd, the Financial Times reported on Tuesday. The company will offer $4.5 billion in its own equity and $2.5 billion from undisclosed private equity partners for the bid, JSW Group Chairman Sajjan Jindal told the newspaper, adding that it will acquire 63% stake in Ambuja Cements. Rainbow Children’s Medicare will debut on the stock market today.

HCL Tech will acquire Bengaluru-based Quest Informatics, an aftermarket, Industry 4.0, and IoT company, in an all-cash deal worth Rs 15 crore. Adani Ports and Special Economic Zone has moved the Bombay High Court challenging the disqualification of its bid in connection with a tender issued by state-run Jawaharlal Nehru Port Authority (JNPA) for up-gradation of the latter’s container terminal in Navi Mumbai.

IndiGo: India’s aviation regulator has formed a three-member team to conduct a “fact-finding enquiry” into InterGlobe Aviation-promoted IndiGo barring a specially-abled child from boarding a flight at the Ranchi airport as he was in a “state of panic”. IndiGo CEO expressed regret over the incident and offered to buy an electric wheelchair for the specially-abled child. Shipping Corporation said its board has approved certain modifications in the scheme of arrangement for the demerger of the company’s non-core assets into Shipping Corporation of India Land and Assets Ltd

NTPC: The state-owned power giant has invited bids to procure imported 4.53 million tonnes (MT) coal mainly for blending with the domestic dry fuel in thermal plants.

Campus Activewear: Motilal Oswal Mutual Fund bought 32 lakh shares of Campus Activewear on its debut day in bulk deals. For the LIC IPO, FPIs invested less than Rs 4,000 crore, which means only 5 percent of the total subscription garnered. On the other hand, individual investors poured in over Rs 25,000 crore.

The IPO got over 8 million retail applications with several of them being first-time investors.