Indian equity benchmarks fell for a second straight session on Wednesday as the Nifty 50 closed at 22,620.45. "Failure to sustain gains around 22,800 points led to continued selling pressure at higher levels," said Ponmudi R. Investors now watch Infosys, Jio Financial, and HDFC Bank after several new corporate developments.
Synopsis
Indian equity benchmarks experienced a decline over two sessions due to profit booking and rising oil prices. The Nifty 50 index closed down by 95.75 points, reaching 22,620.45. Jio Financial Services and Allianz Europe B.V. have invested in their joint venture for business operations. Infosys has expanded its partnership with ABN AMRO for AI-driven transformation initiatives.
Indian equity benchmarks extended their decline for a second straight session on Wednesday, as profit booking at higher levels and a rebound in oil prices weighed on sentiment. The Nifty 50 fell 95.75 points, or 0.42%, to close at 22,620.45.
Failure to sustain gains around 22,800 points to continued selling pressure at higher levels, said Ponmudi R, CEO of Enrich Money. The 22,600–22,550 zone remains the immediate support area, he said, while a sustained break below 22,500 could open the way towards 22,300.
Against this backdrop, shares of Infosys, Jio Financial Services, IRFC, NCC, Blue Dart and several other companies are likely to remain in focus on Thursday following a series of corporate developments.
Jio Financial Services
Jio Financial Services and Allianz Europe B.V. have each invested ₹320.05 crore in Jio Allianz General Insurance, their 50:50 joint venture.
Both partners subscribed to 32,00,50,000 equity shares of ₹10 each for cash at par through a rights issue. The proceeds will be used to fund the joint venture’s business operations.
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Infosys
Infosys has extended its strategic partnership with ABN AMRO to accelerate the Dutch bank’s AI-driven transformation.
The expanded partnership covers application development, testing and support services.
HDFC Bank
Sudhir Kumar Jha, Group Head – Legal & Group General Counsel, has superannuated from HDFC Bank with effect from the close of business hours on September 30, 2026, and has consequently ceased to be a Senior Management Personnel.
Jha was associated with the HDFC Group for 22 years, including with Housing Development Finance Corporation and HDFC Bank. The bank said he played a key role in strengthening its legal and compliance framework and managing legal risks.
Aurobindo Pharma
Acrotech Biopharma has launched ADQUEY™ (difamilast 1%) ointment in the US for the treatment of mild-to-moderate atopic dermatitis in adults and paediatric patients aged two years and older.
Difamilast was originally discovered by Otsuka Pharmaceutical and licensed to Acrotech Biopharma for US commercialisation.
IRFC
Indian Railway Finance Corporation has received a ₹396.91 crore show-cause notice from the Bihar tax authorities in relation to GST matters for FY23.
NCC
NCC has secured two orders worth ₹500.22 crore, excluding GST, during September 2026.
The orders include ₹224.74 crore for the Buildings Division and ₹275.48 crore for the Transportation Division.
Highway Infrastructure
Highway Infrastructure has entered into a ₹220.66 crore contract with the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for collection of user fees and operation of toll plazas on the Gorakhpur Link Expressway.
Interarch Building Solutions
Interarch Building Solutions has secured an ₹89 crore order for a pre-engineered steel structure for a data centre. The customer was not disclosed due to confidentiality obligations.
ideaForge Technology
ideaForge Technology has secured multiple orders worth ₹23.62 crore from domestic civil customers for the supply of UAVs, accessories and training.
Modulex Construction
Modulex Construction has received an order worth ₹14.72 crore for a modular building project.
Apollo Tyres
Apollo Tyres has allotted NCDs worth ₹500 crore through a private placement, following approval by its Committee of Directors.
Blue Dart Express
Blue Dart Express will raise prices across its domestic portfolio by 9% to 12% from January 1, 2027.
The increase will vary depending on the product and customer shipping profile.
Rane (Madras)
Rane (Madras) has transferred possession and recorded the sale of 3.48 acres of freehold land at Velachery Main Road, Chennai, under its agreement with Canopy Living LLP.
The total consideration is ₹361.18 crore, of which the company has received ₹200 crore. The balance will be received in accordance with the agreement.
Bata India
Gunjan Shah has completed his tenure as Managing Director & CEO and ceased to be a director of Bata India with effect from the close of business hours on September 30, 2026.
The company has appointed Sanjay S. Rao as Managing Director & CEO effective October 1, 2026. His tenure will run until August 23, 2031.
Lemon Tree Hotels
Lemon Tree Hotels has opened Keys Prima by Lemon Tree Hotels in Darjeeling, marking the group’s first hotel in the town and expanding its presence in West Bengal.
The property is managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels.
Disclosure: This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
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