Markets are trading in the red as of mid-afternoon, below the | theincomet

Markets are trading in the red as of mid-afternoon, below the 18,800 level. Here are the top stories of the hour.

Adani Group stocks decline
Adani Group stocks faced a decline of up to 10% as US authorities investigate the company's representations to American investors following allegations of share price manipulation. Adani Enterprises shares saw a significant drop of 10%, while Adani Ports, Adani Power, and Adani Transmission also experienced declines of over 5%.

Aurobindo Pharma shares soar
Shares of the pharma company are trading 3.6% higher intraday after its subsidiary Eugia Pharma entered a sub-licensing agreement with Medicines Patent Pool, to develop and distribute Nilotinib Capsules in several countries. The capsules, used for the treatment of chronic myeloid leukaemia, will be produced in India.

Aether Industries’ QIP issue
Aether Industries (-2.8%) has completed a Qualified Institutions Placement (QIP) of equity shares, raising a total amount of ₹750 crore. The company has allotted 80.12 lakh equity shares to 36 qualified institutional buyers at an issue price of ₹936 per share, resulting in an increase in the company's paid-up equity share capital.

TCS and NEST extend partnership
The IT giant (-0.6%) and the UK National Employment Savings Trust (NEST) have expanded their strategic partnership, signing a contract worth £840 million for an initial period of 10 years. If extended for the full 18-year tenure, the contract's value could reach £1.5 billion.