PRE-MARKET INDIAN STOCKS NEWS: Power Grid Corporation of India (PWGR IS) received an LoI worth INR 11.52bln to establish an inter-state transmission system

Bharat Forge (BHFC IS) - Co.’s wholly owned subsidiary Kalyani Strategic Systems signed an MoU with FN Herstal to pursue local manufacturing of small arms, integrated weapon systems and counter-UAS solutions. (Moneycontrol) Cipla (CIPLA IS) - Co.’s subsidiary Invagen Pharmaceuticals entered a strategic partnership with Qilu Pharmaceutical for the exclusive US licensing and supply of QL2107, a biosimilar to Keytruda. (Moneycontrol) Gland Pharma (GLAND IS) - Fosun Pharma Industrial is reportedly looking to sell a 5% stake in the Co. via a block deal worth INR 22.80bln, with a floor price of INR 2,763/shr. (Moneycontrol) Indian Energy Exchange (IEX IS) - Co. August electricity traded volume rose 20.2% Y/Y to 13.94 BU, while real-time electricity market volume rose 10.6% Y/Y to 5.6 BU. (Moneycontrol) Power Grid Corporation of India (PWGR IS) - Co. received an LoI worth INR 11.52bln to establish an inter-state transmission system for integrating renewable power from Gujarat’s Lakadia REZ Phase II on a BOOT basis. (Moneycontrol) Rail Vikas Nigam (RVNL IS) - Co. emerged as the lowest bidder for a contract from East Coast Railway. (Moneycontrol) Key Stocks Trading Ex-Dividend - AIA Engineering (AIAE IS), Coal India (COAL IS), Oil and Natural Gas Corporation (ONGC IS) and Oil India (OINL IS). (Moneycontrol)