Market Closing Highlights: Sensex ends higher, Nifty near 19450; banks advance, Adani Enterprises tanks over 5%

Indian indices ended higher in on Wednesday driven by banking stocks, ahead of the release of the Reserve Bank of India's (RBI) policy meeting minutes and a key global central bankers' gathering.

Global, too, shares were largely higher ahead of Federal Reserve Chair Jerome Powell's highly anticipated speech later in the week.

At the end of the day today, Sensex rose 213 points to settle at 65,433.30, while the Nifty added 47.55 points to 19,400.

On the Nifty, Adani Enterprises, HDFC Life, ITC, NTPC and Hero MotoCorp were the top gainers on the Nifty, while Adani Enterprises, Adani Ports, Jio Financial, Sun Pharma and Tech Mahindra were the worst hit.

BSE midcap and smallcap rose 0.5% each.

Reliance Industrial Investments and Holdings Limited (RIIHL) has become a promoter entity of Reliance Industries Limited, following the acquisition of a 3.56% stake in Petroleum Trust, another promoter entity, according to exchange filings. The shares were obtained through an off-market transaction.

Petroleum Trust, a part of the promoter group of the target company, has distributed its holdings. Following this distribution, RIIHL is now recognized as a member of the promoter group. This shift does not affect the overall shareholding percentage of the promoter and its group in RIL, which remains constant before and after RIIHL's acquisition. (Read here)

Billionaire Gautam Adani's conglomerate clocked a 42% year-on-year growth in pre-tax profit, as businesses ranging from airports to power and sea ports registered impressive growth, the group said on Wednesday.

All-time high EBITDA of ₹23,532 crore in April-June was almost equal to the full-year FY19 (April 2018 to March 2019 fiscal year) EBITDA of ₹24,780 crore, Adani group said in a statement.

The conglomerate that spans 10 listed companies ranging from flagship incubator Adani Enterprises Ltd to ports business (Adani Ports & SEZ Ltd), renewable unit (Adani Green Energy Ltd), power utility (Adani Power Ltd), electricity transmission firm (Adani Energy Solutions), and city gas business (Adani Total Gas Ltd), had a net debt of ₹18,689.7 crore after accounting for a cash balance of ₹42,115 crore.

Core infrastructure and utility platform, which generates stable and assured cash flows, generated EBITDA of ₹20,233 crore, accounting for 86% of the total portfolio EBITDA.

The US FDA has approved JB Pharma’s Abbreviated New Drug

Application (ANDA) for Doxepin Hydrochloride Capsules USP, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, the generic version of Sinequan (Pfizer), which is indicated for treatment of anxiety, depression, and other target symptoms of psychoneurosis.

The drug will be manufactured at JB Pharma’s formulation manufacturing facility in Panoli, Gujarat. 

Doxepin Hydrochloride Capsules had an estimated annual sales of $23.90 million in the United States, as per IQVIA MAT data.

The New Development Bank of the BRICS group of nations is registering an Indian rupee bond programme worth $2.5 billion over 5 years, its Chief Financial Officer Leslie Maasdorp said on Wednesday during a panel discussion.

A total of 37 companies' pre-listing shareholder lock-ins are set to conclude in the coming four months, potentially prompting anchor investors to reduce their positions. Many of these firms have seen substantial price surges in the last three months. The ending of these lock-ins could amplify trading volumes, leading to price fluctuations.

Key companies to watch out for one-month lock-in expiries include Netweb Tech, with a lock-in on 3% of its outstanding shares ending on 23 August; SBFC Finance, with 3% lock-in ending on 11 September; Yatharth Hospital, with 4% lock-in ending on 1 September; and Concord Biotech, with 3% lock-in concluding on 13 September, as per data from Nuvama Institutional Equities. (Read here)

TVS Supply Chain Solutions Ltd, part of TVS Mobility Group, listed at 5% premium to the issue price of ₹197 on the stock exchanges on Wednesday.

The stock listed at ₹206.30 on the BSE, and later rose to ₹208.50.

On the NSE, shares began trade at ₹207.05, rising to ₹208.60 thereafter.

Sebi on Tuesday restrained two Brightcom Group officials, M Suresh Kumar Reddy and Narayan Raju, from holding any managerial position in the company or its subsidiaries until further orders.

Reddy is the promoter-cum-Chairman and MD of Brightcom Group Ltd (BGL) while Raju is the chief financial officer. Besides, the regulator also banned Reddy from the securities market until further orders.

The regulator has also prohibited market veteran Shankar Sharma and 21 other entities and individuals from disposing off shares of the company.