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Benchmark Indian indices closed at record highs, boosted by gains in technology, FMCG and pharma stocks. The Sensex and Nifty closed 0.90% and 0.92% higher, respectively.
Among Nifty sectoral indices, IT, FMCG and Pharma climbed 1.67%, 1.64% and 0.97%, respectively. Auto (-0.21%) and PSU Bank (-0.45%) were the laggards.
Indian rupee was almost flat as it gained only 3 paise to close at 73.06 against the US dollar.
Stock in News Today
Mahindra & Mahindra: The company said it expects to stop production for about 7 days in September as its automotive division has continued to face shortages of semiconductors due to Covid lockdowns in some parts of the world. This is likely to reduce production volumes by 20-25%.
Bharti Airtel: The telecom company said it has successfully conducted India’s first cloud-gaming session in a 5G environment. The gaming session was conducted in Manesar, Gurgaon, as part of the ongoing 5G trials, using spectrum allotted by the Department of Telecom, the company said. The company’s chief technology officer Randeep Sekhon said cloud gaming will be one of the biggest beneficiary of 5G, given the combination of high speed and low latency
HDFC Life Insurance: The company’s shares rose 5.63% to Rs 759 ahead of a board meeting on Friday scheduled to consider fund raising plan. The company is considering the issue of equity shares and/or other securities by way of preferential allotment, subject to necessary approvals required under applicable law.
Coal India Limited: The company’s chairman Pramod Agrawal laid the foundation stone of Mahanadi Coalfields’ Rs 285.05 crore first-mile connectivity (FMC) project of Lajkura SILO at Ib valley in Jharsuguda district. The project is likely to add 15 million tonne per annum dispatch capacity to Mahanadi.