Indian stock markets closed marginally higher as investors reacted to developments in GST reforms. Meanwhile, several companies made significant announcements, ranging from strategic partnerships to operational changes. The Nifty index gained 4%, while 23 Indian stocks became multibaggers with exceptional returns.

Market Performance

While the broader market showed modest gains, some stocks delivered extraordinary returns:

The auto ancillary sector produced 6 multibaggers, while Apollo Micro Systems doubled in the defence sector.

Foreign investors withdrew over Rs 1.5 lakh crore amid global trade tensions and tariff policies. Market experts remain divided on future prospects, with some expecting Nifty to reach new highs driven by BFSI, autos, and consumer discretionary sectors, while others warn of delayed impacts from trade tensions.

Zydus Lifesciences Enters US Market with MS Drug Partnership

Zydus Lifesciences Ltd. has announced a strategic move into the US multiple sclerosis treatment market. The company's wholly-owned subsidiary, Zydus Lifesciences Global FZE, has entered into an exclusive licensing and supply agreement with Netherlands-based Synthon BV for Ozanimod Capsules, a generic version of ZEPOSIA®.

Key points of the agreement:

• Synthon will handle regulatory approval, manufacturing, and supply
• Zydus will be responsible for commercialization in the USA
• Synthon has received tentative approval from the U.S. FDA, making the product eligible for a shared 180-day exclusivity upon market entry

Punit Patel, President and CEO of Zydus Pharmaceuticals (USA) Inc., stated, "This collaboration with Synthon enables us to bring this important treatment to the U.S. market. This collaboration reinforces our strategic focus on advancing care in therapeutic areas and reflects our commitment to making essential medicines more accessible to patients."

The total addressable market opportunity for Ozanimod Capsules in the U.S. is approximately $637.00 million, according to IQVIA MAT data.

NTPC Discontinues Tanda Thermal Project

NTPC Ltd. announced the permanent discontinuation of its 440-MW Stage-I Tanda thermal project in Uttar Pradesh, effective September 1. This move is likely part of NTPC's ongoing efforts to optimize its power generation portfolio.

Corporate Developments and Partnerships

• Varun Beverages incorporated a joint venture company, White Peak Refrigeration Pvt., to manufacture visi-coolers and refrigeration equipment.
• Torrent Pharma will acquire a 26% stake in JB Chemicals for Rs 6,843.00 crore at Rs 1,639.18 per share.
• Bharat Forge's arm purchased 949.65 acres in Andhra Pradesh for a defense energetics manufacturing complex.
• Trent's arm incorporated a new wholly owned subsidiary for real estate investments.
• Rail Vikas Nigam Ltd. and Texmaco Rail agreed to incorporate a new company by November as part of their joint venture agreement.

Banking and Financial Services Updates

• Karur Vysya Bank will open three new branches and reduced its lending rates.
• HDFC Life expects GST reforms to boost demand and its value of new business with minimal impact on embedded value (less than 0.50%).
• UTI AMC appointed Vetri Subramaniam as managing director and CEO.

Regulatory and Industry News

• Biocon received a Form 483 with five observations from the US FDA following an inspection at its Bengaluru plant.
• Travel Food Services signed a lounge services agreement with Dreamfolks Services.
• Reliance Retail plans to pass lower GST rate benefits to consumers.
• The GST Council announced rate cuts across insurance, medicines, and essential goods to stimulate consumption.

Other Corporate Announcements

• TVS Motor Company introduced the TVS NTORQ 150, positioning it as India's first hyper sport scooter targeting Gen Z riders.
• Sammaan Capital appointed Himanshu Mody as Deputy CEO, effective September 4.

As the Indian market continues to evolve, these corporate developments reflect the dynamic nature of various sectors, from pharmaceuticals and power to manufacturing and consumer goods.

Indian markets gained over half a percent on Wednesday, buoyed by optimism surrounding the upcoming GST Council meeting. Meanwhile, several listed companies reported significant developments, ranging from new orders to regulatory notices.

BHEL Wins Rs 2,600 Crore Order for Anuppur Thermal Project

Bharat Heavy Electricals Limited (BHEL) has secured a major order worth approximately Rs 2,600.00 crore from MB Power (Madhya Pradesh) Limited. The contract involves supplying equipment for the 1x800 MW Anuppur Thermal Power Project.

According to the Letter of Intent (LOI) accepted by BHEL, the scope includes the supply of Boiler, Turbine, Generator, and associated auxiliaries along with control and instrumentation. The project, based on supercritical technology, is to be executed at Anuppur, Madhya Pradesh.

Key details of the order include:

• Contract value: Approximately Rs 2,600.00 crore (excluding GST)
• Execution timeline: 58 months for supply completion
• Manufacturing locations: Boiler at BHEL's Trichy plant, Turbine Generator at Haridwar plant

Swiggy Hikes Platform Fee Amid Rising Demand

Food delivery platform Swiggy has increased its platform fee from Rs 12.00 to Rs 15.00 in certain geographies experiencing high demand. This move comes as the company seeks to optimize its operations in response to market dynamics.

WestBridge Capital Likely to Offload Aptus Value Housing Finance Shares

WestBridge Capital is reportedly planning to sell 8.23 crore shares in Aptus Value Housing Finance through a block deal. This potential transaction could significantly impact the company's shareholding structure.

Prestige Office Ventures Receives Show Cause Notice

Prestige Office Ventures, a subsidiary of Prestige Estates Projects Limited, has received a show cause notice from the Directorate General of Goods & Services Tax Intelligence, Hyderabad. The notice alleges non-payment or short-payment of Goods & Services Tax and non-reversal of Input Tax Credit during the period from February 2020 to March 2024.

The show cause notice demands GST amounting to Rs 160.82 crores, along with an equivalent amount of penalty and applicable interest. Prestige Estates Projects has stated that they are evaluating the matter and do not anticipate any relevant impact on the company's financials, operations, or other activities.

Maruti Suzuki Unveils All-New VICTORIS SUV

Maruti Suzuki India Limited has launched its latest SUV, the VICTORIS, aimed at redefining the Indian SUV segment. The new vehicle boasts a range of features including:

• Advanced technology: 10.25-inch digital instrument cluster, 10.1-inch SmartPlay Pro X infotainment system
• Premium audio: 8-speaker Infinity by Harman sound system with Dolby Atmos
• Safety features: Level 2 ADAS, 6 airbags as standard across all variants
• Powertrain options: Strong Hybrid with EV mode, ALLGRIP Select (4x4), and 1.5-litre K15C petrol engine with Smart Hybrid

The VICTORIS is available for booking with an initial payment of Rs 11,000.00.

Coal India Issues Tenders for Renewable Energy Projects

Coal India has issued tenders to build 3 gigawatts of solar and 2 GW of wind power plants. This move is part of the company's strategy to diversify revenue sources amid declining output due to tepid demand.

Vedanta's Forest Land Diversion Proposal Deferred

The Union Environment Ministry has deferred a decision on Vedanta's proposal to divert over 700 hectares of forest land for the Sijimali Bauxite Mines. This development could potentially impact the company's mining operations in the region.

As these companies navigate various challenges and opportunities, investors will be closely watching how these developments impact their financial performance and market positions in the coming quarters.