Today’s top morning headlines - 18th August 2023

Markets are trading in the red as of 1:05 pm, with the NIFTY50 trading below the 19,300 level. Here are the top stories of the hour. Let us know what you think in the comments below!

Top gainer: Adani Enterprises: 2,578 ▲ 93 (+3.9%)

Top loser: Hero MotoCorp: 2,929 ▼ 62 (-2.0%)

:star: Adani Green soars on nod for solar PV plant
Mundra Solar Energy Limited (MSEL), an associate company of Adani Green Energy, has received the commercial operational date certificate from the Solar Energy Corporation of India (SECI) for a solar PV (photovoltaic) cell manufacturing plant. The plant will be located in Mundra, Gujarat, and will have a capacity of 2 gigawatt per year. Adani Green Energy shares are up by 4%.

:star: Zydus receives USFDA nod
Zydus LifeSciences received the USFDA’s approval for Doxepin tablets, which is used to treat sleep disorders like insomnia. The tablet had annual sales of over $43 million in the US as of June 2023. The pharma company’s shares are up by 0.3%.

:star: Concord Biotech makes strong debut
Concord Biotech listed on the exchanges at a 21% premium today. The biotech pharma company’s stock opened at ₹900 on the BSE and NSE, against the public issue price of ₹741 per share. Its ₹1,551 crore initial public offer (IPO) was subscribed nearly 25 times.

:star: Pyramid Technoplast IPO opens today
The ₹153 crore IPO of Pyramid Technoplast opened for subscription today and will remain open till 22 August. Pyramid Technoplast is a manufacturer of polymer-based molded products. The price band of this issue is set at ₹151 to ₹166 per equity share. So far, the IPO has received a total subscription of 60% as of 12:30 pm. To apply for this IPO, click here.