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Stocks in Focus: Lupin, Jio Financial Services, Gail (India), and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.28% higher by 71 points at 25,256 indicating that the domestic benchmark indices are likely to make a positive start on Monday. 

On Friday, 4 October, Domestic benchmark indices S&P BSE Sensex crashed 809 points or 0.98% to end at 81,688.45 while the Nifty50 traded 235 points lower or 0.93% and settled at 25,015.

Here are some stocks that are likely to remain in focus on 7 October.

Lupin: The company’s biotech facility, located in Pune, India, has received five observations from the US Food and Drug Administration (USFDA). The USFDA conducted a pre-approval inspection between 25 September and 4 October. 

Jio Financial Services: The company announced that they have received approval from Securities Exchange Board of India (SEBI) for establishing a mutual funds business in partnership with BlackRock Financial Management.

Gail (India): The company has signed a Memorandum of Understanding (MoU) with AM Green BV (AMG) to explore projects aimed at advancing sustainable energy solutions in India. 

Titan: During the July-September, the company reported a growth of around 25% year-on-year. The company has also added 75 new stores during the quarter, taking its total combined etail network presence to 3,171 stores. 

IndusInd Bank: In its Q2 quarterly report, the company reported a 13% YoY increase in net advances to Rs 3,56,980 crore compared to Rs 3,15,454 crore reported in the same quarter last year. 

Adani Energy Solutions: The company has incorporated a new wholly-owned subsidiary Adani Energy Solutions Global, which will enable the company to explore business opportunities in transmission project across the globe.

CG Power: CG Power and Industrial Solutions (CG), which is a part of the Murugappa Group, announced that they have acquired the radio frequency components business of Renesas Electronics Corporation for a total consideration of $36 million. 

Apollo Tyres: Life Insurance Corporation has acquired an additional 3 lakh shares of the company, taking its total stake from 4.983% to 5.30%. 

SAMHI Hotels: The Board of Directors of the company have approved acquiring Innmar Tourism and Hotels for a total consideration of Rs 205 crore. The acquisition is aimed towards expanding its portfolio with an operating hotel and potential for additional rooms.

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