Key stocks to watch on September 8 include Adani Power, Swiggy, Shiprocket and others

Container Corporation of India, Swiggy, BCPL Railway Infrastructure, Adani Power, Rajputana Stainless, 63 Moons Technologies, and Shiprocket are among the stocks expected to remain in focus. Defence stocks may also draw attention after the Defence Acquisition Council approved acquisition proposals worth around ₹1.10 lakh crore.

The Indian stock market extended its losing streak to a fourth consecutive session on Monday, September 7, with benchmark indices ending lower. The Nifty 50 slipped 0.57% to close at 23,779, while the Sensex fell 0.5% to 76,132. During the session, both indices touched their lowest levels since July 24. However, the Nifty Midcap 100 gained 0.46%, and the Nifty Smallcap 100 ended flat.

Technology stocks led the losses after stronger-than-expected US jobs data raised expectations of a September interest rate hike by the US Federal Reserve. Other sectoral indices, including realty, metal, PSU banks, cement, oil and gas, and FMCG, ended with losses exceeding 0.5%, while the pharma sector was the sole gainer, rising 0.6%.

Container Corporation of India secured an ₹89.09 crore contract from Eastern Railway for the supply of 12 rakes of BLSS wagons with Brake Van Type BVCM, inclusive of GST.

Swiggy plans to sell its entire stake in its B2B distribution arm, Lynk Logistics, to Udaan’s parent for ₹500 crore, which will give Swiggy approximately a 2.8% stake in Udaan. A separate ₹75 crore primary investment in Udaan will increase its holding to about 3.2%.

BCPL Railway Infrastructure emerged as the lowest bidder for a ₹54.74 crore project from Eastern Railway’s Asansol division, involving the replacement of overaged catenary and contact wires, droppers, and old structures.

Adani Power received a Letter of Intent after the Committee of Creditors approved its resolution plan for GVK Energy, which owns and operates a 330 MW hydroelectric power plant in Uttarakhand.

Rajputana Stainless secured power project contracts worth ₹22.71 crore and ₹16.21 crore, adding to its growing order book following its recent stock market debut.

63 Moons Technologies’ subsidiary Ticker allotted shares worth ₹70 crore to Financial Technologies Singapore, increasing FTSPL’s stake in Ticker to 65.80%.

Shiprocket, backed by Temasek, reported a narrower consolidated loss of ₹13.71 crore in the June quarter, down from ₹18 crore a year earlier, aided by growth in its core shipping business. On a standalone basis, the company posted a profit of ₹20.16 crore, compared to a loss of ₹8.99 crore in the year-ago period.