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Indian stock indices ended higher, boosted by gains in PSU banks, FMCG, metal and auto stocks. The Sensex closed 0.25% at 60284.31 and Nifty was up 0.26% at 17991.95.
Top sectoral gainers in NSE were Nifty PSU Bank (3.08%), FMCG (1.22%) Metal (1.09%) and Auto (0.88%). Top loser was Nifty IT which fell 0.88%.
Indian rupee fell 15 paise to 75.51 against the US dollar on Tuesday due to rising oil prices and U.S. bond yields.
Stock in News Today
Tata Power: The company’s subsidiary, Tata Power Solar Systems, has received a ‘Letter of Award’ to build 100 Mega Watt of solar projects for Energy Efficiency Services Ltd. Tata Power in an exchange filing said that the total order value is Rs 538 crore and the commissioning date of projects is 12 months. Shares of the company closed 2.25% higher at Rs 195.80.
Radico Khaitan: Shares of the company jumped 14.77% after it launched two new premium Indian Made Foreign Liquor (IMFL) namely Magic Moments Dazzle Vodka and Royal Ranthambore Heritage Collection Royal Crafted Whisky. Both liquors will be available in select stores in Delhi, Karnataka, Uttar Pradesh, Goa, Maharashtra, Rajasthan and Haryana in the first phase of launch.
Airtel and Vodafone Idea: Telecom tribunal TDSAT asked the Department of Telecom (DoT) to put on hold the encashment of bank guarantees in the penalty case of Bharti Airtel and Vodafone Idea till the next date of hearing. The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) bench headed by Justice Shiv Kirti Singh listed the matter for hearing on October 26. According to DoT, companies are required to pay the penalty by October 21.
Bajaj Finserv: The NBFC has reduced its home loan interest rate for salaried and professional applicants. The interest rate starts from 6.70% per annum for borrowers who have strong credit and income profiles. The maximum tenure of the loan is up to 30 years and customers also have flexible payment option.
Ujjivan Small Finance Bank: The lender’s shares soared 10.82% after it posted strong second-quarter business numbers. The gross loan book was up 4% YoY to Rs 14508 crore, from Rs 13890. Its total deposits jumped 31% to Rs 14090 crore in Q2FY22, from Rs 10743 crore in the year-ago period. CASA ratio improved to 22% in the second quarter, from 16% in the corresponding quarter last year.
Larsen & Toubro: The company’s construction arm, L&T Construction, won various order in India for its metallurgical and material handling, buildings and factories, and water and effluent treatment businesses. Metallurgical & Material Handling business won an order to set up coke over, coke dry quenching plants in steel sector. The Buildings & Factories business has won an order for construction of office space at Hyderabad with an approximate built-up area of 20 Lakh Sq. ft on fast-track timelines, that is to be completed in 14 months.
Suryoday Small Finance Bank: The lender posted a rise of 19.6% YoY in gross advances to 4471 crore, from Rs 3737 crore. Total deposit slipped 0.3% to Rs 3129 crore in Q2FY22, from Rs 3140 crore. CASA ratio of the bank improved to 18.5% in the second quarter of fiscal 2022, from 11.1% in the year-ago period.
PSP Projects Ltd: The construction company has won a government residential project as it was the lowest bidder with a bid value of Rs 238.70 crore (excluding GST) in Uttar Pradesh, the company said in an exchange filing.