Sensex and Nifty finished higher on Monday. BSE Sensex closed 131.18 points, or 0.17 percent, higher at 77,341.08 while the Nifty jumped 36.75 points, or 0.16 percent, to settle at 23,537.85.
“Nifty opened gap down on Monday, influenced by global cues. After an initial knee-jerk reaction, the index recovered and traded in a narrow range. Finally, Nifty settled on positive note at 23,538. Technically, since last couple of weeks, the index is consolidating in the band of 23,330-23,670. Thus, for fresh bullish momentum, index need to sustain above 23,670-23,700 zone. If it manages to sustain above 23,700, the rally could extend towards 24,000 levels. On the downside, 23,300 will act as strong support for the index,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
1. Amara Raja
Amara Raja Advanced Cell Technologies Pvt. Ltd (ARACT), a wholly owned subsidiary of Amara Raja Energy & Mobility Ltd (ARE&M), one of India’s leading battery manufacturers, has signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co Ltd. As part of the agreement GIB EnergyX will license Gotion’s world class LFP technology for lithium-ion cells to ARACT.
2. Sun Pharmaceutical Industries Limited
Sun Pharmaceutical Industries Limited has informed the regulators that it has successfully completed the merger of Taro Pharmaceutical Industries Ltd with its subsidiary. As part of this merger, Sun Pharma acquired all outstanding ordinary shares of Taro other than the shares already held by Sun Pharma or its affiliates. As a result of the merger, Taro is now a private company and wholly-owned by Sun Pharma. Sun Pharma has been the majority shareholder of Taro since 2010.
3. Tata Elxsi
Tata Elxsi shares are scheduled to trade ex-dividend today. The company’s Board of Directors has recommended a dividend of 700% at Rs 70 per equity share of Rs 10 each, for the financial year 2023-24, subject to tax.
4. Tata Group Stocks -Voltas
Shares of Voltas Ltd will trade ex-dividend today. The Board of Directors had at their Meeting held in May recommended a dividend of 550% at Rs 5.50 per Equity Share of Re 1 each for the financial year ended 31st March, 2024.
5. Ixigo
Le Travenues Technology Ltd, which operates travel booking platform ixigo, announced an expansion of its exclusive partnership with PhonePe, India’s leading fintech platform for offering flight & bus bookings on the PhonePe app in addition to its existing train partnership. ixigo will exclusively power these travel booking options on PhonePe, integrating services from ixigo Flights for flight bookings, AbhiBus for bus bookings as well as expanding its prior partnership with ConfirmTkt for train bookings, the company said.
