Sensex, Nifty closed 0.12% higher on Tuesday. India’s wholesale price inflation accelerated to 11.39% in August after easing for two consecutive months as producers regain pricing power with economy showing sure signs of recovery. In other news, Zomato co-founder Gaurav Gupta quit the foodtech firm just two months since its listing
Rupee closes unchanged at 73.68 (provisional) against US dollar
Market closing: Gaurav Udani, CEO and founder, ThincRedBlu Securities
“Nifty traded in a small range today. It closed at 17380 up by 25 points. Nifty is facing strong resistance in 17420-17450 range. It is important for Nifty to close above 17450 with higher than average volumes to continue its upward journey. Nifty has strong support in 17250-17300 range and traders can use buy on dips strategy keeping a strict stop loss in the current markets.”
HAL signs production pact with Rolls-Royce
HAL has signed a pact with Rolls-Royce for Make in India Adour engine parts for global markets.
DRDO contracts Godrej, 9 other cos to manufacture oxygen generators
The Defence Research and Development Organisation (DRDO) has contracted 10 private sector players, including city-based Godrej & Boyce (G&B), to manufacture oxygen generators. Godrej Precision Engineering (GPE), a unit of G&B, has received the order from the Defence Bio-engineering and Electromechanical Laboratory (DEBEL), a DRDO laboratory in Bengaluru, to manufacture oxygen generators, G&B said in a statement.
Srei Infra CEO Rakesh Bhutoria resigns
In a fresh setback, Srei Infrastructure Finance has suffered another blow as its chief executive Rakesh Kumar Bhutoria resigned even as the company is going through the debt resolution process, sources said on Tuesday.
Kotak Mahindra Bank, TCS top gainers
Indian study finds big drop in covid antibodies within four months of vaccination
A study of 614 fully vaccinated health workers in India found a “significant” drop in their COVID-fighting antibodies within four months of the first shot. The findings could help the Indian government decide whether to provide booster doses as some Western countries reuters.com/world/uk/uk-pm-johnson-set-out-covid-19-booster-strategy-under-winter-plan-2021-09-13 have done. (Reuters)
Indian study finds big drop in COVID antibodies within four months of vaccination
A study https://www.researchsquare.com/article/rs-888762/v1 of 614 fully vaccinated health workers in India found a “significant” drop in their COVID-fighting antibodies within four months of the first shot. The findings could help the Indian government decide whether to provide booster doses as some Western countries reuters.com/world/uk/uk-pm-johnson-set-out-covid-19-booster-stra tegy-under-winter-plan-2021-09-13 have done.
DCM Shriram Industries sets Oct 11 as record date for share split
Madras HC uploads order on withdrawing mandatory bumper-to-bumper motor insurance cover
Laurus Labs gains
Laurus Labs’ stock was trading at ₹655.10 apiece, up 1.42% at 2:12 pm. The company says that development is underway based on an agreement launched in June 2021 between the company, Unitaid and the Clinton Health Access Initiative (CHAI), to accelerate the development, commercialization, and registration of HIV treatment darunavir boosted with ritonavir (DRV/r) for children.
HG Infra gains
HG Infra’s stock was trading at ₹607.00 apiece, up 1.45% at 2:09 pm. The company has won a ₹448.11 crore order from the Public Works Department (PWD), Rajasthan.
GST Council to discuss considering food delivery apps as restaurant services
India’s cotton production to fall by 1% due to lackluster rainfall: Fitch
Fitch Solutions said on Tuesday it expects cotton production in India to fall by one per cent year-on-year to 28.3 million 480lb bales in 2021-22 (previously two per cent growth) due to lacklustre rainfall throughout July and August, the main planting times. Rainfall in Gujarat — the country’s top producing state (accounting for around a third of the country’s annual production — is almost 30 per cent below its long-term average as of mid-September which has reduced the area available for planting and weighed on yields. In addition, said Fitch, the recent outbreak of pink bollworm in Bhatinda and Mansa will probably also act as a drag on yields. Nevertheless, production should bounce back in 2022-23, providing that weather normalises and that the outbreak of pink bollworm is adequately contained.
Tata Steel commissions India’s first plant for CO2 capture from Blast Furnace gas at Jamshedpur
Tata Sons is considering a revamp of its leadership structure, reports Bloomberg
Vistara says Vinod Kannan appointed as CEO, to replace Leslie Thng
Coforge, HCL Tech drive sectoral gains
TCS, Kotak Bank drive Sensex gains
Solana remains investor favourite as global crypto funds get $57mn inflows
Global crypto funds posted the fourth straight week of inflows…