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Benchmark indices closed higher, aided by gains in banking and IT stocks amid rising global crude prices. The Sensex rose 0.58% and the Nifty jumped 0.59%.
In broader markets, the Nifty Midcap 100 index rose 0.77% and the BSE Smallcap rose 0.4%.
Top gainers were Realty [1.48%], PSU Bank [1.19%], Media [1.09%], Bank [1.06%], and Financial Services [1.02%]. Top losers were FMCG [-0.41%], Pharma [-0.32%], and Metal [-0.04%].
The Indian rupee fell 6 paise to 83.21 against the US dollar on Thursday.
Stock in News Today
HCLTech: The company has signed a multiyear agreement with German technology and high-tech industry giant Siemens AG to modernize its IT landscape and power cloud-led digital transformation. The IT major will focus on automating the public cloud environment, while adhering to Siemens’ high security standards. HCLTech will migrate and operate Siemens’ infrastructure on AWS and Azure and ensure its cloud resources are optimized, secure and scalable, allowing the company to focus on its core business.
Larsen & Toubro (L&T): The company has fixed September 12 as the record date to determine the names of shareholders who would be eligible to participate in the buyback. Meanwhile, the market capitalisation of the company crossed the Rs 4-trillion-mark for the first time on Thursday after its shares closed 4.26% higher at Rs 2847.05.
Nazara Technologies: The company’s board has approved an issue of equity shares having a face value of Rs 4 each to raise up to Rs 410 crore on preferential basis, subject to receipt of approval of the company’s shareholders. The funds will be invested via three schemes of SBI Mutual Fund namely SBI Multicap Fund, SBI Magnum Global Fund, and SBI Technology Opportunities Fund.
Hitachi Energy India Limited: The company has won a contract from Ayana Renewable Power to provide a grid connection solution for their upcoming 300-megawatt (MW) solar photovoltaic power plant in Bikaner, Rajasthan. Hitachi Energy will provide an engineering, procurement and construction management package that collects all the power generated by the plant and transfers it into the national transmission system safely and reliably. The project is scheduled to be commissioned in March 2024.
United Breweries: The company’s board has approved the appointment of Vivek Gupta as managing director (MD) and chief executive officer (CEO) of the company with effect from September 25, 2023 up to September 24, 2028. He has spent over two decades in leadership and commercial roles at P&G, working across various categories, from everyday consumption to premium categories.
Power Mech Projects: The company has won two orders worth Rs 625.21 crore including an order worth Rs 229.20 crore from Hindustan Zinc for operation and maintenance of 2×91.2 MW in Rajasthan and an order worth Rs 396.01 crore from Vedanta for 2×600 MW power plant in Chattisgarh.
Crompton Greaves Consumer Electricals: The company has secured an order worth Rs 25.44 crore for solar pumps from Haryana Government. The order is expected to be executed within 120 days.
Aurobindo Pharma: The US drug regulator inspected the company’s formulation manufacturing facility in Telangana from July 14 to July 21, 2023 and the facility received an EIR classifying facility as ‘voluntary action indicated’.
Strides Pharma Science: The company’s board has approved the acquisition of 100% shareholding in Strides Pharma Services (SPS). As part of internal restructuring, the company is acquiring the stake in SPSPL from Arco Lab, a wholly owned subsidiary of the company. Post the said acquisition, SPS shall be a direct wholly owned subsidiary of the company, and the transaction is expected to be completed by September 15.
Anupam Rasayan: The specialty chemicals maker announced that its board has approved the appointment of Gopal Agrawal as chief executive officer (CEO) of the company, with effect from September 11, 2023. Agrawal is a qualified Chartered Accountant with nearly 22 years of experience.