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POST MARKET
Indian equity indices started the week on a positive note, erasing some of the previous session’s losses as IT and metal shares rallied on Federal Reserve Chair Powell’s hint on the US interest rate trajectory
At close, the Sensex was up 329.06 points or 0.40 percent at 81,635.91, and the Nifty was up 97.65 points or 0.39 percent at 24,967.75. About 1830 shares advanced, 2169 shares declined, and 178 shares were unchanged.
On the sectoral front, the IT index rose 2.3%, the Realty index added 0.7%, metal index jumped 0.6%.
Infosys, TCS, HCL Technologies, Wipro, and Hindalco Industries were among the major gainers on the Nifty, while losers were Apollo Hospitals, Nestle India, Bharat Electronics, Adani Enterprises, and SBI Life.
Among the broader market indices, the BSE Midcap and Smallcap indices ended flat.
STOCKS TODAY
JK Paper
Shares of the company and its competitor rallied as much as 17 percent on Monday, August 25, as the central government’s move to impose a Minimum Import Price (MIP) on Virgin Multi-layer Paper Board, alongside amendments to the import policy under Chapter 48.
Nazara Technologies
Stock hit a three-month low and slipped over 4 percent after the company announced suspension of its real-money gaming (RMG) offerings on Friday, to comply with the new online gaming law. The new law prohibits online money games where a user makes a deposit, directly or indirectly, with the expectation of earning winnings on that deposit.
Yes Bank
The share price of the private lender gained nearly 5 percent on August 25, after the Reserve Bank of India (RBI) gave its approval to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to acquire a 24.99 percent stake in the lender. The stock has since cooled from the opening highs.
Gokaldas Exports
Shares fell 6 percent ahead of the August 27 deadline for higher U.S. tariffs on Indian goods under President Donald Trump. Trump’s additional 25 percent tariff on Indian goods threatens to double the existing trade penalty, raising it to a crushing 50 percent in total.
Vodafone Idea
Vodafone Idea (Vi) jumped almost 7 percent, extending significant gains for the second consecutive session after a report said that the Prime Minister’s Office (PMO) is set to take a call on a relief proposal for the telecom major. The debt-laden operator has repeatedly warned it cannot survive without funding support, as banks remain wary of lending given its financial stress. Vi employs over 18,000 people and has nearly 198 million subscribers.
Ola Electric Mobility
Stock gained 5 percent on Monday, touching an intraday high of Rs 49.40 after reports that the government’s policy think-tank Niti Aayog has convened a meeting with leading two-wheeler makers to fast-track the electrification