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Indian benchmark stock indices lost early gains and closed lower, weighed by Reliance Industries, Bajaj twins and FMCG stocks. The Sensex closed lower 0.86% 58283.42 and the Nifty closed 0.82% at 17368.25.
Top Nifty index losers were Nifty Media [-1.81%], Realty [-1.35%], PSU Bank [-1.34%], Energy [-1.08%] and FMCG [-0.96%]. IT index was the only index that closed in the green at 0.31%.
Indian rupee closed flat at 75.77 against the US dollar on Monday.
Stock in News Today
Gravita India: The company has started its new battery recycling unit near Mundra Port in Gujarat and plans to invest a total of Rs 62 crore to increase its overall capacity to 48,000 MTPA. Gravita said it expects an increase in share of higher-margin business from the key overseas market across lead, aluminium and plastic recycling segments.
Greenlam Industries: Shares of Greenlam Industries rose 4.89% in intraday trade after the company approved splitting of equity share having face value of Rs 5 each to five equity shares of Rs 1 each. Meanwhile, its board also approved setting up a greenfield project for manufacturing of Particle Board and allied products at Naidupeta, Nellore in Andhra Pradesh, to enhance the capacity from 1.5 million laminate sheets/board per annum to 3.5 million.
TTK Prestige Ltd: Shares of the company closed 6.67% higher ahead of the stock split ex-date on Tuesday. The company has fixed December 15 as the record date for purpose of splitting of Rs 10 per equity share of the company into ten equity shares of face value of Re 1 each.
Paytm: The fintech firm reported over two-fold rise in its gross merchandise value to about Rs 1.66 lakh crore in the first two months of the third quarter of this fiscal, driven by sharp uptick in loan disbursals. “Growth momentum in GMV continues in the first two months of the quarter, due to strong performance during the festive season, which continues post festive season,” the company said in an exchange filing.
Subex Limited: The software company said that it took immediate action to identify the reach for an outage of its infrastructure and external-facing websites over the past week. In an exchange filing, the company said it found that the outage was caused by a targeted cyber-attack and certain data and systems were affected. The company also added that it is taking a measures to minimise adverse effect due to the incident.
Antony Waste Handling Cell Ltd: The company closed 9.30%, after the company’s subsidiary, AG Enviro Infra Projects Pvt. Ltd. received a letter of intent for a contract. The contract is for door-to-door collection and transportation of municipal solid waste to disposal site and operation and maintenance of equipment/machineries. The order was given North Delhi Municipal Corporation. The project is estimated to lead to an approximate revenue of Rs 1,000 crore in 10 years.
TVS Motor Company: The automaker along with Zoho Corp has invested $15 Million in electric motorcycle start-up, Ultraviolette. The start-up company will use the investment towards the production and commercial launch of its high-performance electric motorcycle, the F77, and will roll out the first batch of motorcycles in the first half of 2022. TVS has invested $9.9 million, while Zoho has pumped in $5 million.