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Benchmark Indian indices closed lower weighed by selling in banking and metal stocks after the indices touched new highs. Sensex crossed 56,000-mark in the morning and retreated. Sensex fell 0.29% to 55,629.49 and Nifty slipped 0.28% to 16,568.85.
Indian rupee gained 12 paise to close at 74.24 against the US dollar on Wednesday.
Nifty FMCG (0.69%) and Pharma (0.21%) indices gained, while Nifty Bank (-0.87%) and Metal (-0.81%) fell.
Stocks in News Today
Tata Steel: The company in partnership with Aarti Green Tech has planned to set up a new 0.5 million tonne per annum steel recycling plant at Rohtak, Haryana. Aarti will be ‘Build, Own, Operate’ partner. The plant will have facilities like shredder , material handler, etc.
Tata Motors: The automaker unveiled the electric version of Tigor on Wednesday. The company said the sale of the vehicle will begin from August 31. ITs Nexon EV, a SUV, has a market share of 70% in India’s electric vehicle segment. The electric vehicle will be fitted with a 26 kWh Lithium-ion battery pack with an eight year and 1.6 lakh KM battery and motor warranty.
Hindustan Unilever: The company has tied up with quick service restaurant Pizza Hut to sell its Kwality Wall’s ice cream and desserts to customers. This offer is also available for delivery and takeaway customers. Pizza Hut expects its average order value to rise 10% for orders that have Kwality Wall’s ice cream and desserts, according to a joint statement.
Windlas Biotech: The company’s shares declined for the third day after it got listed on Monday. Windlas closed 3.03% lower at Rs 388.30. The scrip is down 16% from its issue price of Rs 460 as some investors felt the company’s efforts to revamp its business will take a long time.