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Stocks in Focus: Glenmark Pharma, KEC International, Coal India, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.25% lower by 63 points at 25,192, indicating that the domestic benchmark indices are likely to make a negative start on Friday. 

On Thursday, 5 September, Domestic benchmark indices S&P BSE Sensex slumped 151.48 points or 0.18%, to end at 82,201.16, while the Nifty50 traded 53.60 points or 0.21% lower and settled at 25,145.

Here are some stocks that are likely to remain in focus on 6 September.

Glenmark Pharma: The company has agreed to a $25 million settlement with the US Department of Justice, relating to pricing of a generic drug. The payment will be done by a US subsidiary, Glenmark Pharmaceuticals Inc, who will pay the amount in six instalment over five years.

KEC International: The company secured orders worth Rs 1,423 crore for designing, supplying, and installing 380 kilovolt (kV) transmission lines in Saudi Arabia. 

Coal India: The company is aiming to add 5 gigawatt (GW) of renewable energy capacity by 2028, a year earlier than the company had previously planned. 

Infosys: The Union Labour Ministry has instructed Karnataka authorities to investigate delays in the onboarding process of freshers at Infosys and to take necessary action under relevant labour laws. This directive comes despite Infosys recently beginning to send joining dates to those who have been waiting for appointment letters since 2022.

Adani Enterprises: The company has announced receiving approval to raise Rs 800 crore via bonds. 

Adani Green Energy: The company has announced entering into a strategic joint venture (JV) agreement with TotalEnergies, aimed at managing a portfolio of solar projects amounting to 1,150 megawatts (MW). 

NLC India: The company was allocated the Machhakata mine after the Ministry of Coal issued an allocation order for three coal mines. 

Indigo Paints: Peak XV Partners have divested 11% stake in the company via a block deal, which is valued at Rs 770 crore. The shares were offered at a 4.6% discount of Rs 1,470 per share.

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