Indian stock markets experienced pressure on Wednesday, with key indices losing over half a percent as the corrective phase continued. The decline was attributed to persistent underperformance in key sectors and continued Foreign Institutional Investor (FII) outflows.

Major Investment Announcements

Amidst the market downturn, several companies announced significant investments and operational updates:

• Reliance Consumer Products and Coca-Cola Bottlers: A massive investment of over Rs 65,000.00 crore in food processing facilities was announced by Reliance Consumer Products and three Coca-Cola bottlers. This substantial commitment underscores the growing focus on the food processing sector in India.

• ABB India: The company is investing more than Rs 140.00 crore to expand its Low Voltage motors manufacturing facility. Additionally, ABB India launched IE5 ultra-premium efficiency motors, showcasing its commitment to energy-efficient solutions.

Operational Updates

NTPC Solar Project

NTPC, the state-owned power giant, declared the commercial operation of 167 MW capacity at its Nokh Solar PV Project in Rajasthan. This addition brings NTPC's total installed capacity to 60,705 MW on a standalone basis and 83,863 MW on a group basis. The commercial operation is set to commence from September 26, 2025, as per the company's regulatory filing.

Maruti Suzuki

The leading automaker reported a significant uptick in car bookings from rural areas during the second leg of the festive season, starting with Navratri. The company noted that bookings in hinterlands doubled, supported by government tax cuts, indicating a robust demand in rural markets.

BHEL

The company clarified that the Department of Investment and Public Asset Management (DIPAM) has not agreed to the proposed Joint Venture with REC Power Development and Consultancy, dispelling recent market speculations.

Ceigall India

The company secured a road construction project worth Rs 509.00 crore from GMADA (Greater Mohali Area Development Authority), bolstering its order book.

IT Sector in Focus

The IT sector garnered attention as global consulting giant Accenture reported fourth-quarter revenue above estimates, driven by strong demand for AI-driven consulting services. This positive development has put the spotlight on Indian IT majors such as Infosys, TCS, and Wipro, as investors gauge potential implications for the Indian IT services market.

Despite the overall market decline, these corporate developments highlight ongoing investments and operational progress across various sectors of the Indian economy. Investors will be closely watching how these initiatives unfold in the coming quarters and their potential impact on the broader market sentiment.

Indian stock markets continued their downward trend for the fourth consecutive session, with several major companies making significant announcements amidst the bearish sentiment.

Market Overview

The Nifty index tested support at the 25,040 level, facing pressure from weakness in private banks and IT stocks. The decline was further exacerbated by profit-taking in the auto, energy, and metals sectors.

Glenmark Pharmaceuticals Inks Major Oncology Deal

Glenmark Pharmaceuticals Limited has entered into an exclusive licensing agreement with Hengrui Pharma for the cancer treatment drug Trastuzumab Rezetecan (SHR-A1811), a next-generation HER2-targeting antibody drug conjugate (ADC).

Key points of the agreement include:

• Glenmark obtains exclusive rights to develop and commercialize Trastuzumab Rezetecan worldwide, excluding Mainland China, Hong Kong SAR, Macao SAR, Taiwan Region, USA, Canada, Europe, Japan, Russia, and several other countries.
• Glenmark will pay an upfront payment of $18.00 million.
• Hengrui is eligible to receive regulatory and commercial milestone payments of up to $1.09 billion.
• Glenmark will pay royalties to Hengrui based on net sales within the licensed territory.

Glenn Saldanha, Chairman and Managing Director of Glenmark Pharmaceuticals Limited, stated, "This partnership aligns strongly with our strategy to bring differentiated, high-value therapies to patients and reinforces our commitment to advancing innovation in areas of significant unmet need."

Other Corporate Developments

Adani Energy Solutions

The company received 'Zero-Waste-to-Landfill' certification from Intertek for all operational sites, achieving a 100% waste diversion rate.

Poly Medicure

Announced the acquisition of Italy-based Citieffe Group for Rs 324.00 crore, expanding its international presence.

Dr Reddy's and Hetero Labs

The companies will sell generic versions of an HIV prevention drug for $40.00 per year starting 2027, potentially increasing access to crucial medications.

Jaguar Land Rover

The automaker is facing payment delays to suppliers following a cyberattack that halted factory operations, highlighting the growing importance of cybersecurity in the automotive industry.

Lupin

Received tentative FDA approval for HIV treatment tablets to be manufactured at its Nagpur facility, strengthening its position in the pharmaceutical market.

Newgen Software

The company's UK subsidiary executed a master service agreement for cloud hosting and software services, indicating expansion in its international operations.

These developments come at a time when Indian markets are experiencing a period of volatility, with investors closely watching both domestic and global economic indicators for signs of stability and growth.