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Sensex Drops 390 Points; Nifty Dips Below 15,650

Indian shares fell notably on Monday, tracking mixed global cues and ahead of key inflation data due later in the week.

The benchmark S&P BSE Sensex dropped 390 points, or 0.7 percent, to 52,085 in early trade, while the broader NSE Nifty index was down 160 points, or 1 percent, at 15,639.

Adani Enterprises slumped more than 13 percent after it incorporated a new wholly-owned subsidiary Adani Cement Industries.

Lupin lost 4 percent after it received a warning letter from FDA for its Somerset facility in the United States.

Info Edge India gave up 1.7 percent after it signed a pact to acquire Zwayam Digital Pvt Ltd.

Bharat Forge shares fell 2.6 percent. Promoter Ajinkya Investment & Trading Co. has sold 1 percent equity stake in the company via an open market transaction.

Coal India tumbled 3.8 percent. In a major policy shift, the state-run company has lifted the embargo on coal exports under its e-auction sales policy.

Shriram Transport Finance fell more than 3 percent after raising nearly Rs. 2,000 crore via a QIP issue.

Sun Pharma dropped 1.4 percent. The company said it has no immediate plans to enter into vaccine production.

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