Sensex closed 259 points, or 0.66 percent, higher at 39,302.85 on September 16 and Nifty settled 83 points, or 0.72 percent, up at 11,604.55. BSE Midcap and Smallcap indices closed 0.21 percent and 0.44 percent higher, respectively.

Sterlite Tech | CMP: Rs 162.95 | The stock jumped over 3 percent after Bharti Airtel entered into a partnership with the company to build a modern optical fibre network across 10 telecom circles. The new optical network will enable Airtel to deliver world-class customer experience through enhanced scalability, reduced latency, and improved bandwidth, claimed the companies. Bharti Airtel, however, ended in the red.

Lakshmi Vilas Bank | CMP: Rs 22.40 | The share price jumped 10 percent after the bank said the mutual due diligence process for the merger with Clix Group is substantially complete and both parties are in discussions on the next steps. Under the non-binding LOI, the proposed amalgamation is subject to completion of mutual due-diligence, regulatory and other customary approvals. As per the mutual understanding between parties, the exclusivity period was extended till September 15 due to the prevailing pandemic situation.

Vedanta | CMP: Rs 134 | The stock gained almost 2 percent after the Supreme Court has rejected the government's plea challenging $499 million arbitral award for Ravva Oil Fields in the company's favour. The court has upheld the Delhi High Court order which refused to interfere with the arbitral award.

PVR | CMP: Rs 1,248 | The share price shed over a percent after the multiplex chain operator reported a consolidated net loss of Rs 225.73 crore for the June quarter as the film exhibition business remained closed due to the COVID-19 pandemic. Revenue from operations stood at Rs 12.70 crore, compared to Rs 880.39 crore in the corresponding quarter of the previous fiscal. Consolidated EBITDA loss for the quarter was Rs 73 crore as against a positive EBITDA of Rs 285 crore in the same period last year.

Dr Reddy’s Labs | CMP: Rs 4,639.60 | The stock jumped over 4 percent after Russia's sovereign wealth fund said it will supply India's Dr. Reddy's Laboratories 100 million doses of the Sputnik-V vaccine against COVID-19 once it receives regulatory approval in India. The Russian Direct Investment Fund added that it had agreed to cooperate on clinical trials and the distribution of the vaccine with the Indian firm.

Aurobindo Pharma | CMP: Rs 830.75 | The share price gained over a percent after the pharma company announced a collaboration with the Biotechnology Industry Research Assistance Council (BIRAC), set up by the Department of Biotechnology, for the development of COVID-19 vaccine. BIRAC has facilitated the establishment of the 'r-VSV vaccine’ manufacturing platform for the first time in India by supporting Aurobindo Pharma’s COVID-19 vaccine development, the company said in a regulatory filing.

Power Mech Projects | CMP: Rs 442 | The stock gained over a percent on September 16. The company reported a net loss of Rs 33.07 crore in the quarter ended June 2020 as against a net profit of Rs 26.46 crore during the previous quarter ended June 2019. Sales declined 46.92 percent to Rs 248.64 crore in the quarter ended June 2020 as against Rs 468.44 crore during the previous quarter ended June 2019.

Jain Irrigation Systems | CMP: Rs 12.05 | The stock price shed a percent after the company reported a net loss of Rs 156.87 crore in the quarter ended June 2020 as against a net profit of Rs 22.08 crore during the previous quarter ended June 2019. Sales declined 26.63 percent to Rs 1387.62 crore in the quarter ended June 2020 as against Rs 1891.32 crore during the previous quarter ended June 2019.

ITD Cementation | CMP: Rs 52.85 | The share price was down over 4 percent after the company reported a consolidated net loss of Rs 16.96 crore in Q1 June 2020 compared with a net profit of Rs 16.92 crore in Q1 June 2019. Consolidated net sales were down 43.3 percent to Rs 399.73 crore in Q1 June 2020 over Q1 June 2019.

Allcargo Logistics CMP: Rs 125 | The stock added a percent on September 16. The company reported a consolidated net profit which went down by 24 percent at Rs 47.9 crore against Rs 63 crore (YoY). Consolidated revenue was up 14.4 percent at Rs 2,077.6 crore against Rs 1,815.3 crore (YoY). Consolidated EBITDA was down 6.8 percent at Rs 131.1 crore against Rs 140.6 crore (YoY). The consolidated EBITDA margin stood at 6.3 percent against 7.7 percent (YoY).