1 hr ago
Stocks Rise as Tata Shares Fall; Vedanta, ACME Gain
India’s stock market was higher around midday on September 18.
Some Tata Group shares fell because Tata Trusts challenged a board decision involving Tata Sons.
Many Adani Group shares moved higher after companies shared expansion plans.
Veegaland Developers began trading above its IPO price.
Vedanta said it may raise money through special debt securities.
Hindustan Aeronautics delivered aircraft and helicopters to Indian operators.
GPT Infraprojects won a large railway bridge contract.
ACME Solar commissioned more battery storage, while Skyways Air Services reported stronger profits.
Domestic markets stayed higher at midday, with the Nifty near 23,340 and Sensex near 74,570 on September 18.
Tata Chemicals fell 8% as Tata Group stocks faced pressure amid a Tata Trusts-Tata Sons boardroom dispute.
Adani Group shares generally advanced, with Adani Total Gas up 4.4% and Adani Green Energy up 1.6%.
Veegaland Developers debuted at a premium, while Vedanta gained after announcing a possible non-convertible debenture issue.
GPT Infraprojects, ACME Solar Holdings, Hindustan Aeronautics and Skyways Air Services rose following business updates.
- Who
- Indian companies and investors, including Tata Group, Adani Group, Vedanta, Veegaland Developers, Hindustan Aeronautics, GPT Infraprojects, ACME Solar Holdings and Skyways Air Services.
- What
- Several stocks moved sharply at midday following corporate announcements, earnings and a Tata Group boardroom dispute.
- Where
- The Indian equity market, including trading on the NSE and BSE.
- When
- September 18, during midday trading.
- Why
- Shares responded to company-specific developments, including Tata governance tensions, business expansion, fundraising plans, contracts, project commissioning and financial results.
Tata Trusts' position
Tata Sons' board action
Reappointment and listing
Tata Trusts' position
Tata Trusts called Tata Sons' reappointment of N Chandra illegal and asked the board to explore options other than listing.
Tata Sons' board action
Tata Sons' board had proceeded with N Chandra's reappointment and was asked to consider alternatives to a listing; the article does not provide a response from Tata Sons.
Key facts
- Nifty level
- Around 23,340 at midday
- Sensex level
- Around 74,570 at midday
- Top Tata decline
- Tata Chemicals fell 8%
- Veegaland IPO price
- Rs140 per share
- Vedanta Q1 FY27 net profit
- Rs5,473 crore, up 71.8% year on year
- GPT Infraprojects order
- Rs483.72 crore railway bridge contract
- ACME commissioned storage
- 52.32 MW/209.28 MWh in Phase II
- Skyways Q1 FY27 net profit
- Rs19.67 crore, up 190.12% year on year
Sources
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