Indian Markets Extend Losses as Glenmark, Adani Energy, and Others Make Key Announcements

1 min read     Updated on 25 Sept 2025, 06:20 AM
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Ashish ThakurScanX News Team
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Overview

Indian stock markets continued their downward trend for the fourth consecutive session. The Nifty index tested support at 25,040, pressured by weakness in private banks and IT stocks. Glenmark Pharmaceuticals signed a major oncology deal with Hengrui Pharma for Trastuzumab Rezetecan, involving an upfront payment of $18 million and potential milestone payments of up to $1.09 billion. Other notable developments include Adani Energy Solutions receiving 'Zero-Waste-to-Landfill' certification, Poly Medicure acquiring Italy's Citieffe Group for Rs 324 crore, and Dr Reddy's and Hetero Labs planning to sell generic HIV prevention drugs at reduced prices.

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*this image is generated using AI for illustrative purposes only.

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.

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Indian Markets Edge Lower on Expiry Day; Corporate Developments Across Sectors

1 min read     Updated on 24 Sept 2025, 06:22 AM
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Reviewed by
Jubin VergheseScanX News Team
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Overview

Indian stock markets closed marginally lower on expiry day, continuing their consolidation phase. The session was marked by significant corporate developments across various sectors. Swiggy approved the transfer of Instamart operations and divested stakes in Rapido. Infosys extended its collaboration with Sunrise. Bajaj Electricals acquired the Morphy Richards brand. Torrent Power announced stake acquisitions in Newzone companies. Tech Mahindra London will divest its stake in Surance. Havells India launched Lloyd Kolors refrigerators on Flipkart. Imperial Chemical Industries plans to sell a 5% stake in Akzo Nobel India. VMS TMT is set to debut on exchanges. Mazagon Dock Shipbuilders signed an MoU for a potential new shipyard. Indian Hotels Company signed a new Taj hotel in Visakhapatnam. Sumitomo Mitsui Banking Corporation increased its stake in YES Bank. Jaguar Land Rover extended its production pause due to a cybersecurity incident. Puravankara announced changes in its top management.

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*this image is generated using AI for illustrative purposes only.

Indian stock markets experienced a volatile session on expiry day, with indices closing marginally lower as the consolidation phase continued. The day was marked by significant corporate developments across various sectors, highlighting the dynamic nature of India's business landscape.

Market Overview

Analysts noted that while positive factors such as GST reforms and anticipated festive demand are supporting market sentiment, several external challenges are creating headwinds. These challenges include:

  • Visa fee hikes
  • Foreign fund outflows
  • Weakness in the Indian rupee

Key Corporate Developments

Swiggy

Swiggy's board approved transferring quick commerce operations under the Instamart brand. The company will also divest stakes in Rapido for Rs 1,968.00 crore and Rs 431.00 crore in separate transactions.

Infosys

Infosys extended its strategic collaboration with Switzerland's Sunrise for IT transformation and AI initiatives.

Bajaj Electricals

Bajaj Electricals' board approved acquiring the Morphy Richards brand for Rs 146.00 crore from Glen Electric Limited.

Torrent Power

Torrent Power will acquire stakes in Newzone India (49%) and Newzone Power Projects (100%) for Rs 211.00 crore.

Tech Mahindra

Tech Mahindra London will divest its 26.42% stake in Surance through a share transfer agreement.

Havells India

Havells India announced Lloyd Kolors refrigerators are available on Flipkart starting at Rs 18,990.00.

Imperial Chemical Industries

Imperial Chemical Industries will sell a 5% stake in Akzo Nobel India for Rs 742.70 crore at a 4% discount.

VMS TMT

VMS TMT, a TMT bars manufacturer, will debut on exchanges at Rs 99.00 per share after its IPO was subscribed 102.26 times.

Mazagon Dock Shipbuilders

Mazagon Dock Shipbuilders signed a Memorandum of Understanding (MoU) with Guidance Tamil Nadu to explore the development of a greenfield shipyard on India's eastern coast, potentially expanding the company's manufacturing capabilities.

Indian Hotels Company

Indian Hotels Company announced the signing of a new 310-key Taj hotel in Visakhapatnam through a partnership with Varun Hospitality, strengthening its presence in Andhra Pradesh's growing hospitality market.

YES Bank

Japan's Sumitomo Mitsui Banking Corporation (SMBC) acquired an additional 4.22% stake in YES Bank, increasing its total holding to 24.22% and becoming the bank's largest shareholder.

Tata Motors - Jaguar Land Rover

Jaguar Land Rover (JLR), a subsidiary of Tata Motors, announced an extension of its production pause until October 1, 2025, following a cybersecurity incident on September 2.

Puravankara

Real estate developer Puravankara announced a change in its top management. CFO Deepak Rastogi has resigned, effective September 23. Deputy CFO Niraj Kumar Gautam will be elevated to the position of CFO, starting September 24.

Conclusion

As the Indian markets continue to navigate through a period of consolidation, these corporate developments across various sectors underscore the ongoing evolution and growth in India's business landscape. Investors and market watchers will be keenly observing how these developments impact the respective companies and their sectors in the coming months.

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