Key facts
- Indian stocks closed higher on weekly expiry day.
- Nifty faced resistance around the 23,800-24,000 range.
- Alkem Labs, Vedanta, Canara Bank, NHPC, Adani Ports, Infosys, PFC, and Delhivery were in focus.
- Alkem Labs saw block deals worth Rs 930 crore, with promoter entities selling and institutional investors buying.
- Alkem Labs launched semaglutide pre-filled syringes in India.
Indian stock markets closed higher on the weekly expiry day, navigating through volatility. The Nifty index displayed signs of recovery but encountered resistance in the 23,800-24,000 range. Several key stocks garnered attention due to significant corporate developments. Alkem Labs, Vedanta, Canara Bank, NHPC, Adani Ports, Infosys, PFC, and Delhivery are among these. Factors influencing these stocks include block deals, visits by the Enforcement Directorate (ED), plans for capital raising, oversubscribed Offer for Sale (OFS) events, and robust cargo volumes reported by Adani Ports. Specifically, Alkem Laboratories saw block deals worth approximately Rs 930 crore, with promoter-linked entities offloading stakes and domestic mutual funds and foreign institutional investors emerging as key buyers. The company also launched semaglutide pre-filled syringes in India. Alkem Laboratories shares experienced significant block deals totaling Rs 930 crore, with promoter family entities divesting shares to a group of domestic mutual funds and foreign institutional investors. This transaction occurred after a strong performance by Alkem Laboratories shares over the past year. The deal highlights continued institutional interest in the pharmaceutical sector.