Top stock movers — RIL, Granules, TCS, Cipla, Advanced Enzyme Tech, Tata Consumer, and more

Indian stock market index Sensex gained over 400 points on Friday, led by positive cues from global markets. The key sectoral indices were trading higher after the bank, auto, finance, metal, and pharma gained during the early trade hours.

The 30-share BSE index was trading 1% higher; while the Nifty50 was up 100 points at 10:05 am.

These were the top losers and gainers in the Nifty pack:
Top Nifty GainersTop Nifty Losers
Adani PortsKotak Mahindra Bank
HCL Tech-
Eicher Motors-
IndusInd Bank-
*as of September 25, 10:00 am

TCS trades 3% higher

The shares of tech giant TCS were trading 3% higher on Friday after the company said that the American women’s clothing retail chain Maurices had hired the company as its digital transformation partner. TCS will help Maurices build its greenfield IT ecosystem with the intent of optimising its 200 existing applications and software components within the next 17 months.

Granules India gained 9%

Granules India was trading 9% higher after news reports indicate that three global private equity players — KKR, Bain Capital and Blackstone— have shown preliminary interest in acquiring a controlling stake Granules India.

Cipla opens 3% higher

The shares of pharma giant Cipla surged 3% after the company received USFDA approval for a multiple sclerosis drug. The drug is used for the treatment of relapsing forms of multiple sclerosis, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.

Advanced Enzyme Technologies soar 7%

Advanced Enzyme Technologies share price soared 7% after the foreign portfolio investor (FPI) bought nearly 4% stake in the agricultural products company via the open market. This came after Nalanda India Equity Fund on Thursday bought 3.75% stake.

Tata Coffee and Tata Consumer leaps 4%

The share price of Tata Coffee and Tata Consumer surged 4% after media reports surfaced that the consumer arm of Tata Group, Tata Consumer Products, is planning to bid for the vending machine business of Coffee Day Enterprises. The reports claim that the board of Tata Consumer had approved the proposal to explore an acquisition of the operation from Coffee Day.

RIL gains nearly a percent

The shares of Mukesh Ambani owned RIL were trading nearly a percent higher on Friday. The company’ telecom arm Jio has partnered AeroMobile to launch mobile services on 22 flights on international routes, with plans starting at ₹499 per day.

The partner airlines include Virgin Atlantic, Alitalia, Swiss, Emirates, Etihad Airways, Euro Wings, Lufthansa, Malindo Air and Biman Bangladesh Airlines.

Another news report highlights that RIL’s retail arm, Reliance Retail is in race to acquire a south based consumer durables retail chain operator Electronics Mart India. Electronics Mart operates 60 stores in South India with 1,200 employees on its roll.

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