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Indian benchmark indices closed at record highs as energy, oil, auto and metal stocks gained and also aided by upbeat sentiments after data showed services activity picked up in August. The Sensex closed 0.48% up at 58,129.95 and Nifty ended 0.52% higher at 17,323.60.
RIL closed 4.10% higher at Rs 2388.50. Top Nifty sectors that gained were Energy (2.29%), Metal (1.17%), Auto (1.02%). Nifty Bank index fell 0.19%
Indian rupee inched up 6 paise to close at 73.02 against the US dollar.
IHS Markit’s report said India’s services business activity index rose to 56.7 in August, compared with 45.4 in July.
Stock in News Today
Reliance Industries: Shares of the company jumped on a few positive news such as the launch of its new smarphone – JioPhone Next smartphone – in a week, completion of its acquisition deal with Just Dial Ltd and the company being in talks to acquire Norwegian-based REC which is a solar panel maker.
HDFC Life Insurance: Private sector life insurer said it will acquire a 100% stake in Exide Life Insurance for Rs 6,887 crore from Exide Industries and after that it will be merged with HDFC Life, subject to necessary regulatory approvals. Of the Rs 6,887 crore that HDFC Life will be paying Rs 725 crore in cash, and the balance by issuing 87.02 million equity shares of face value of Rs 10 of the company issued at a price of Rs 685 per share to Exide Industries
Maruti Suzuki: The automaker has announced to recall of 1,81,754 units of petrol variants of Ciaz, Ertiga, Vitara Brezza, S-Cross, and XL6 as the company plans to inspect and replace motor-generators free of cost. These vehicles are said to be manufactured between May 4, 2018, amd October 27, 2020. The replacement of the affected part shall start from the first week of November 2021.The car market leader has advised owners of these vehicles to avoid driving through water-logged areas.
TTK Prestige: The company has completed expansion of capacity at its Karjan plant in Vadodara district, Gujarat. The company said the capacity expansion will add 4 million non-stick cookware pieces per annum. The commercial production from this expanded capacity has started from today i.e. September 3, 2021, the company added.