Stocks To Watch On 29 September: SBI Life Insurance, Adani Power, Coforge, Others Are Trending – Outlook India

Indian equity benchmark indices fell nearly 1 per cent on Thursday due to continuous foreign capital outflows amid a largely negative trend in global markets. Heavy selling pressure in index major Reliance Industries, Infosys, and ITC also impacted market sentiments.
The BSE Sensex fell 610.37 points or 0.92 per cent to settle at 65,508.32. The Nifty slipped 192.90 points or 0.98 per cent to end at 19,523.55.
“After a firm opening, markets lost ground immediately and plunged deep into the red in the second half, as IT, metals, FMCG and automobile stocks led the slump in key benchmark indices. Markets were range bound in last few sessions and one was anticipating a sharp fall, and the weak global factors have been already weighing on investors’ minds for quite some time. If US dollar and bond yields maintain their ascend, the downward trend may continue for some more time,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
The life insurance company’s board has approved the appointment of Amit Jhingran as the managing director and CEO with effect from October 1. Current, managing director and CEO of the life insurance company, Mahesh Kumar Sharma, has been appointed as deputy managing director in SBI, Corporate Centre.
Two companies that are part of promoter group in Adani Power have acquired a 2.2 per cent stake through open market transactions between 5-25 September. Fortitude Trade & Investment acquired 65.8 million shares or 1.71 per cent stake in the company between 5 September to 21 September. Emerging Market Investment DMCC bought 19.2 million shares or 0.5 per cent in Adani Power between 21 September to 25 September, according to regulatory filings.
The IT services company said that it has received income tax demand of Rs 83 crore for the financial year 2019-20. “This is to inform that the Company has received income tax assessment order/ demand order for financial year 2019-20 (assessment year 2020-21) with tax demand along with interest,” the company said in a regulatory filing.
The company has entered into definitive agreements today to acquire 26 per cent of shareholding of Axiom Ayurveda Private on a fully diluted basis, which owns brand “Alofrut” – a proprietary fusion of aloevera pulp with fruit blend, according to information available on NSE.
Promoter Ashok Soota has offloaded around 1.1 per cent stake in the company through block deals, reported CNBC-TV18. He sold the stake to fund SKAN, the public charitable trust for medical research, & Happiest Health. With this, Soota’s stake in the company fell to 50.13 per cent from 51.24 per cent earlier.
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