Indian Markets Shut for Muharram; L&T, Adani Power, NTPC, and Lupin Make Headlines
The Indian stock markets remained closed on Thursday due to the Muharram holiday. Trading activities were suspended across equity and commodity markets, giving investors a break from regular market movements.
As a result, there were no updates on benchmark indices such as the Nifty 50 and Sensex. Information related to top gainers and top losers was also unavailable because trading did not take place during the session.
Despite the market holiday, several important corporate announcements and business developments kept investors engaged. Many listed companies shared updates regarding acquisitions, investments, business expansion plans, and regulatory approvals.
Global Markets Show Mixed Performance
While Indian markets were closed, global markets witnessed mixed trends. In the United States, stock markets ended with mixed results as investors evaluated economic data and corporate earnings.
Meanwhile, most Asian markets traded lower during the session. Concerns about global economic growth and investor caution affected market sentiment across the region. European markets also experienced declines, reflecting uncertainty in the global financial environment.
The mixed performance in overseas markets may influence investor sentiment when Indian markets resume trading.
L&T Completes Sale of Nabha Power
Engineering and infrastructure giant Larsen & Toubro (L&T) announced that it has successfully completed the sale of its entire stake in Nabha Power Limited to Torrent Power.
The transaction was completed for Rs 3,632.35 crore. Following the completion of the deal, Nabha Power is no longer a subsidiary of L&T.
The move is part of the company’s strategy to optimize its business portfolio and focus on core growth areas.
Adani Power Expands Into Nuclear Energy Segment
Adani Power informed investors that its subsidiary, Adani Atomic Energy Limited, has incorporated a new wholly owned step-down subsidiary named Progressive-UP Atomic Energy Limited.
The newly formed company will focus on generating, transmitting, and distributing nuclear or atomic energy. This development highlights the group’s interest in exploring future opportunities in the clean energy sector and expanding its presence beyond conventional power generation.
NTPC Forms New Mauritius Subsidiary
State-owned power producer NTPC announced the incorporation of a wholly owned subsidiary called NTPC (Mauritius) Energy Limited.
The new company has been established with a capital of 1 million Mauritian Rupees, which is approximately Rs 19.8 lakh.
The subsidiary will primarily focus on developing floating solar projects and other renewable energy initiatives in Mauritius. The move supports NTPC’s international expansion plans and strengthens its renewable energy portfolio.
HCLTech Invests in Sarvam AI
Technology services company HCLTech completed its investment in Axonwise Private Limited, widely known as Sarvam AI.
The company invested Rs 1,427.25 crore and acquired a 10.46% stake in the artificial intelligence startup.
The investment reflects HCLTech’s growing focus on AI-driven technologies and innovation. As artificial intelligence continues to transform industries worldwide, the company aims to strengthen its position in this rapidly growing segment.
Power Grid Approves Major Funding Plans
Power Grid Corporation announced multiple important decisions approved by its board of directors.
The company has proposed increasing its borrowing limit to Rs 2.2 lakh crore, subject to shareholder approval. It also approved raising up to $500 million through an External Commercial Borrowing (ECB) arrangement from Bank of Baroda.
Additionally, the board sanctioned an investment of Rs 772.65 crore for upgrading the Udumalpet–Madurai 400 kV transmission line.
These initiatives are expected to support infrastructure development and improve power transmission efficiency across the network.
Cholamandalam Investment Raises Rs 2,000 Crore
Cholamandalam Investment and Finance Company announced the allotment of unsecured subordinated non-convertible debentures (NCDs) worth Rs 2,000 crore through a private placement.
The issue includes a green shoe option of Rs 1,400 crore and carries a coupon rate of 8.88%.
The funds raised will help support the company’s lending operations and future growth plans.
Zydus Lifesciences Enters Sri Lankan Market
Pharmaceutical company Zydus Lifesciences has entered into a joint venture with Sunshine Healthcare Lanka Limited of Sri Lanka.
Both companies will hold an equal 50% stake in the venture. The partnership aims to establish a pharmaceutical manufacturing facility in Sri Lanka.
The move is expected to strengthen Zydus’ international presence and expand its footprint in the South Asian healthcare market.
Lupin Receives USFDA Approval
Drug manufacturer Lupin received tentative approval from the United States Food and Drug Administration (USFDA) for its Enzalutamide tablets.
The medicine is used in the treatment of prostate cancer, one of the most common cancers among men.
The approval represents another step forward in Lupin’s efforts to expand its product offerings in the highly competitive US pharmaceutical market.
Aurobindo Pharma Invests in Solar Energy
Aurobindo Pharma announced the acquisition of a 26% stake in Swarnaakshu Solar Power Private Limited.
The company has also entered into a power purchase agreement for captive consumption of solar energy. The approved investment for the project is up to Rs 10.40 crore.
This initiative aligns with the company’s sustainability goals and its efforts to increase the use of renewable energy in operations.
Market Outlook
Although Indian markets remained closed due to the Muharram holiday, several major corporate developments provided important updates for investors. News related to acquisitions, renewable energy projects, international expansion, artificial intelligence investments, and regulatory approvals may influence stock-specific movements when trading resumes.
Investors will closely monitor global market trends and these corporate announcements as the Indian stock market reopens for trading.