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Stocks in Focus: Infosys, SJVN, Coal India and Others

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The GIFTY Nifty futures were trading in the red during the early hours before the opening of the markets on Thursday. Domestic Indices are expected to open on a similar negative note amid weak global cues.

On Wednesday, domestic equity indices S&P BSE Sensex and NSE Nifty 50 ended more than a per cent lower over huge selling in heavy-weight stocks. The Nifty ended at 19,901.40 after tumbling 1.15% or 231.90 points, while the Sensex plunged to 796 points or 1.18% to close at 66,800.84.

Here are some of the top stocks that may remain in focus on September 21.

Apollo Tyres: The company said in an exchange filing that the production of Bias and OTR tyres had been stopped at its manufacturing facility in Limda, Gujarat, due to issues amongst shop floor employees regarding the renewal of the long-term settlement agreement.

Coal India: The public sector undertaking said that it had been served a three-day strike notice by central trade unions, including Bharatiya Mazdoor Sangh and the All India Trade Union Congress, demanding the salaries of non-executive employees be given according to the National Coal Wage Agreement (NCWA) XI.

Cipla: The US Food and Drug Administration (USFDA) has concluded an inspection at the manufacturing facility of a wholly-owned subsidiary of the company, InvaGen Pharmaceuticals, in Central Islip, Long Island, New York, USA, with five inspectional observations in Form 483 from September 11 to September 19, 2023.

Infosys: Indian IT major Infosys plans to partner with US-based chipset manufacturer NVIDIA to set up a Centre of Excellence to train and certify 50,000 employees on the latter’s AI to provide generative AI expertise to its customers.

Sheela Foam: The company’s qualified institutional placement (QIP) opened on September 20 at a fixed floor price of Rs 1,133.99 per share. The issue price for the same will be fixed on September 25.

SJVN: The Indian government plans to offload up to 9.67 crore shares, amounting to a 2.46% stake in the company under the offer for sale (OFS) route at a floor price of around Rs 69 apiece. The offer will open for non-retail investors today and for retail investors on September 22. The company’s board will meet on September 23 to consider fund-raising.

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