Sensex Today | Stock Market Highlights: Nifty, Sensex turn weak as H-1B visa issue drags IT names

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Nifty IT Index Slides Over 3% With All The Stocks In The Red

Market Breadth Favours Declines Tracking An All-round Fall

Sensex Falls 466 Points To 82,160 & Nifty 125 Points To 25,202

Nifty Bank Slips 174 Points To 55,285 & Midcap Index 395 Points To 58,700

Auto Stocks Close Mixed As GST Cut Kicks In, Index Down 0.3%

Adani Group Stocks Extend Friday’s Gains, Stocks Rise Up To 20%

KFin Tech Slides 5% On Reports Of Likely Stake Sale By Genral Atlantic

Large Cap IT Names Fall 2-3% While Midcap IT Stocks Fall Up To 5%

Pharma Stocks Are Under Pressure, Cipla, Glenmark Top Losers

Muthoot Finance Rises 4% As Gold Extends Gains, Hits Record High

NBCC & Netweb Gain 4–6% On Order Wins

Hind Copper Rises 6% On Mining Lease Extension

Shipbuilding Stocks Rise On Infra Status, SCI & Garden Reach Up 3-4%

Market Breadth Favours Declines, Advance-Decline Ratio At 2:3

General Atlantic may sell 10-15% stake in KFin Tech via block deals, sources tell CNBC-TV18.

KFin Tech is yet to respond to CNBC-TV18’s query

Shares of John Cockerill India Ltd. gained another 20% to hit a record high of ₹6,385.85 apiece on Monday, September 22. The stock extended its gains for the fifth consecutive trade session, gaining 46% cumulatively during this period. From the start of 2020, the stock is up 6x in value

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Walmart-backed fintech major PhonePe reported strong topline growth in FY25, even as it worked toward narrowing its losses. The company’s operating revenue surged 40.4% year-on-year to ₹7,114.8 crore, compared to ₹5,064.1 crore in FY24, according to filings with the Registrar of Companies (RoC).

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With the US tightening its grip on the H-1B visa and charging an outrageous $100,000 per application, China’s new visa to entice young experts in science and technology might prove to be a delicious alternative.

The Chinese government introduced the K Visa in August, and it will go into force on October 1.

Mahindra Group On H-1B Visa Curbs

Anish Shah, Group CEO and MD, Mahindra Group ON GST Impact

“Today is a holy day for Arunachal Pradesh and for the nation. The PM has chosen our state, the land where the first rays of the sun touch the country, to roll out the historic GST reforms that will benefit crores of poor people across the country,” the Union Parliamentary and Minority Affairs minister said.

New GST rates lists LIVE updates

Based on a number of industry-wide and stock-specific triggers, India’s shipping companies, including Shipping Corporation of India Ltd. (SCI), Garden Reach Shipbuilders Ltd. (GRSE), and Cochin Shipyard Ltd., saw gains of up to 5% on Monday.

The Ministry of Finance awarded large ships “infrastructure status” in a statement last week, fulfilling a long-standing request by the Indian maritime sector. The statement was already made on February 1st of this year during Finance Minister Nirmala Sitharaman’s budget.

Unicommerce

Atul Tiwari, JPMorgan To CNBC-TV18

Mahindra Group MD Anish Shah Speaks Exclusively To CNBC-TV18

Moody On H-1B Visa

Ruchit Jain from Motilal Oswal Financial Services

Arbitral tribunal passes order, rejects claims of the company’s arm, Sterling Solar

Sterling Solar’s claim of ₹486 Cr was dismissed & Conti, LLC, USA was granted a claim of ₹57 Cr plus interest

JPMorgan’s Atul Tiwari LIVE On CNBC-TV18

Watch CNBC-TV18 LIVE

After the goods and services tax (GST) amendment, Metro Brands, a Mumbai-based Indian multi-brand footwear retailer, intends to reduce the cost of roughly 40% of its products.

The Nifty IT index has declined by a colossal 1,000 points

According to Rakesh Sharma, Executive Director of Bajaj Auto, a firm based in Pune, the company has controlled the effects of the goods and services tax (GST) on larger bikes by keeping their costs stable during the holiday season, preventing any inconvenience to customers.

Sharma anticipates that bike financing will be well-received, with clients being assisted by initiatives that reduce processing fees and provide alluring discounts.

On Monday, September 22, subscriptions for Ganesh Consumer Products’ first public offering (IPO), a major participant in the packaged food industry in eastern India, opened. As of Day 1, 7% of the ₹409-crore IPO has been subscribed for.

Investors can bid for a minimum lot of 46 shares, and the company is selling its shares in a set price range of ₹306-322. On September 24, the IPO will come to an end.

On Monday, Tamil Nadu Chief Minister MK Stalin will introduce Chennai One, the country’s first mobile application for integrated public transit ticketing.

In addition to CM Stalin approving a 25-year Comprehensive Mobility Plan (CMP) for the Chennai Metropolitan Area, the launch will occur during the Chennai Unified Metropolitan Transport Authority’s (CUMTA) second meeting at the State Secretariat.

Following news that Warren Buffett’s investment firm Berkshire Hathaway had sold its interest in the electric vehicle manufacturer, shares of BYD Co. fell to their lowest in three weeks.

On Monday, September 22, the stock fell as much as 3.6%, making it one of the worst-performing Chinese companies listed in Hong Kong.

The Nifty Midcap 100 index recovered over 300 points from its lows to turn positive

Latika Chopra, JPMorgan To CNBC-TV18

Here are the top stocks, trading with higher-than-usual volume among the Nifty 500 stocks (10-Day Average)

Positive

Borosil Renewables

Garden Reach Shipbuilders

Hindustan Copper

Piramal Ent

Anat Raj

Negative

Nifty IT under pressure – Persistent/LTIM/Mphasis/Coforge/Zensar Tech

Swiggy – Stock falls on JM Fin downgrade

Voltas – Stocks falls post muted Q2 commentary in analyst meet

Ipca. mankind/lalpath/laurus/glenmark