Post Market Analysis 31-08-2021

Benchmark Indian indices closed at an all-time high, boosted by gains in metals, telecom, technology and pharma stocks. Investors also await India’s GDP data scheduled to be released later today, to assess the country’s economic recovery. The Sensex rose 1.16% to 57552.39 and Nifty was up 1.19% to 17132.20. 

Indian rupee rose 23 paise to close at 73.05 against the U.S. dollar on Tuesday.

S&P BSE Telecom rose 4.9%, Nifty Metal, IT, FMCG and pharma gained 1.54%, 1.35%, 0.97% and 0.86%, respectively.

Stock in News Today

Tata Motors: The automaker has launched the new Tigor EV in India based on Ziptron technology. The Tigor EV starts at a price of Rs 11.99 lakh and it will be available in three variants – XE (Rs 11.99 lakh), XM (Rs 12.49 lakh) and XZ+ (Rs 12.99 lakh). The Tigor EV will be offered in two colours – Signature Teal and Daytona Grey.

Reliance Industries: The company is in talks to buy solar panel manufacturer REC Group, a Norwegian company, for about $1.2 billion from ChemChina. REC currently has an annual production capacity of 1.5 gigawatts by volume. It has installed about 10 gigawatts of solar power generation capacity across the world and produced more than 40 million solar panels.

HCL Technologies: The IT major announced an investment of $1.25 million in Series A preferred shares of Austin GIS Inc, a US-based company. This investment will give HCL an opportunity to tap into new technologies like Internet of Things (IoT) and 5G RAN industries. Shares of the company closed 1.62% higher at Rs 1,182.30.

Sun Pharmaceutical: The drugmaker has received exclusive right to commercialize Winlevi in the US and Canada. Abhay Gandhi, CEO, North America of Sun Pharma, said, “With Winlevi, a unique product with a new mechanism of action for the topical treatment of acne vulgaris, we have further expanded our basket of innovative products to serve patients better.”