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Benchmark equity indices closed higher, boosted by gains in Reliance Industries, energy stocks, metal, auto and banking shares. The Sensex closed 1.09% higher at 57684.79 and Nifty closed 1.08% higher at 17166.90.
Top gainers among indices were Nifty Metal (2.32%), Bank (1.88%), Auto (1.46%), Energy (1.26%). Top loser was Nifty Pharma which lost 1.62%.
Indian rupee rose 26 paise against the US dollar to close at 74.91 on Wednesday.
Stock in News Today
Tata Power: Shares of the company closed 4.64% after it received an LoA from Solar Energy Corporation of Inmdia Ltd. to build 100 MW EPC Solar Project. The total contract value of the project is approximately Rs 945 crore and it is expected to be completed within 18 months.
Paytm: The company’s CEO said that it is expecting to increase revenue and monetisation methods on its platform in the next few quarters. He said that the company is witnessing scale in system deployment and non-UPI revenue, where merchant gives revenue charges, MDR (merchants discount rate) for payments and credit led financial service.
Nykaa (FSN E-Commerce Ventures): Indian cosmetics-to-fashion retailer is planning to more than triple its offline stores to 300, according to founder and Chief Executive Falguni Nayar, Reuters reported. Nayar said the company was targeting 100 cities.
Rashtriya Chemicals and Fertilizers, Chambal Fertilsers & Chemicals, National Fertilizers and Madras Fertilizers: Shares of fertiliser companies jumped after Reuters reported that the Indian government plans to increase fertiliser subsidies to a record of more than 1.55 trillion rupees in FY22 to avoid shortages amid a sharp rise in global prices.
Mindtree: The company said in an exchange filing that it has earned the AI and Machine Learning on Microsoft Azure advanced specialization. It added that the specialization is a validation of a services partner’s deep knowledge, extensive experience and proven success in enabling customer adoption of AI and implementing Azure solutions for machine learning life cycle and AI-powered apps.
Biocon Ltd: Shares of the company closed 2.86% higher after it said that Biocon has been added in the Dow Jones Sustainability Index in the Emerging Markets category. Biocon had a total sustainability score of 45 for its ESG practices compared with an industry average of 18. It is among the top 15 companies in India and one of the 12 companies from the pharmaceuticals, biotechnology and life sciences sectors to be featured in the index this year.