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Benchmark indices closed marginally higher as losses in IT, Oil & Gas and auto shares were offset by gains in realty, banks and FMCG stocks. The Sensex closed 0.06% higher and the Nifty 50 index inched up 0.07%.
The broader markets outperformed headline indices. The Nifty Midcap 100 was up 0.2% to 31460.2 and the BSE Smallcap rose 0.34% to 28438.57.
Top gainers among Nifty sectoral indices were Realty [1.55%], Metal [0.92%], Pvt Bank [0.64%], FMCG [0.57%] and Bank [0.49%]. Top losers were IT [-0.79%], Oil & Gas [-0.65%], Auto [-0.47%], Pharma [-0.34%] and PSU Bank [-0.23%].
Indian rupee fell 23 paise to 79.67 against the US dollar on Thursday.
Stock in News Today
Tata Motors: The automaker has won orders of 921 electric buses from Bengaluru Metropolitan Transport Corporation. The company will supply, operate and maintain 12-metre electric buses for a period of 12 years. With this, the total number of orders for electric buses at Tata Motors stands at over 3,600.
Maruti Suzuki (MSI): India’s largest car maker launched the all new Alto K10 at a starting price of Rs 3.99 lakh (ex-showroom). The pricing of the hatchback goes up to Rs 5.83 lakh (ex-showroom) and is based on the fifth generation Heartect platform. The new Alto K10 will be powered by a 67hp, 1.0 litre K10C petrol engine which produces 65.7 bhp of power and a max torque of 89 Nm. The engine will be paired with a 5-speed manual transmission and an AMT.
Hindustan Aeronautics Limited (HAL): The state-owned defense company has signed an MoU for establishing an office in Kuala Lumpur (Malaysia). The office in Malaysia will help HAL in tapping the new business opportunities for Fighter Lead-in Trainer (FLIT) LCA and other requirements of Royal Malaysian Air Force (RMAF) like Su-30 MKM and Hawk upgrades, the company said.
Tata Power: The company’s subsidiary, Tata Power Renewable Energy, has allotted 8.36 crore shares at Rs 239.2 per equity shares worth Rs 2,000 crore to BlackRock’s unit GreenForest New Energies Bidco. With this allotment, tranche 1 of the transaction is completed, while tranche 2 infusion of Rs 2,000 crore will be concluded later.
Adani Green Energy: The company has clarified to the exchanges that it has only received provisional approval for wind power projects in Sri Lanka and hasn’t signed any definitive agreements. The clarification from the company comes after Sri Lanka’s Energy Minister Kanchana Wijesekera tweeted about the development.
Travel and Hotel companies: Shares of travel and hotel companies rose after the Indian government approved increasing the limit of Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 50,000 crore. With this, the limit rose to Rs 5 lakh crore from Rs 4.5 lakh crore earlier. The additional amount has been sanctioned exclusively for hospitality- and travel-related industries. The additional amount would be made applicable to companies these sectors till March 31, 2023.
SpiceJet: The budget carrier and Swiss investment bank Credit Suisse told the Supreme Court that they have resolved their financial dispute. The country’s apex court then directed SpiceJet to withdraw its appeal against a Madras High Court verdict ordering that the airline be wound up on account of alleged non-payment of dues to Credit Suisse.
Mahindra & Mahindra (M&M): The automaker said that the total production of automobiles stood 54,822 units in July 2022, up by 28% as compared with 42,963 units produced in the same period last year. The company’s total sales increased by 31% to 53,350 units in July 2022 from 40,860 units sold in July 2021. Exports for the period under review stood at 2,798 units, up 32% year-on-year.
Zomato: Sahres of the online food delivery company rallied 6.13% in intraday trading, extending gains for the seventh consecutive trading session. Shares of company has surged more than 26% in seven trading sessions from its recent closing low of Rs 54.6 on the NSE on August 5.
HDFC Bank: The private sector bank has opened its first all-women branch in Kozhikode, Kerala. The branch is located in Cherootty Road, the hub of traders in the district and the branch will have 4 women bankers.
Dynacons Systems & Solutions: Shares of the company were locked in an upper circuit of 5% after the company said that it has bagged an order from Life Insurance Corporation of India for workplace solutions.The order is received for the supply, installation and support of IT infrastructure for their branch offices across India. The total value of the order stood at Rs 105 crore.
Indo Amines: Shares of the company surged 20% after the company in an exchange filing said that it received environmental clearance for the expansion of Synthetic Organic Chemical for its manufacturing plants in Thane District, Maharashtra.
Craftsman Automation: The company has started the commercial operations of its new plant at Pune, Maharashtra, according to an exchange filing. The existing capacity in Pune is 11.5 lakh units for Automotive-Powertrain segment. About 2% of capacity will be added to the Pune plant as an investment of Rs 5 crore.
Power Mech: The construction company has bagged orders worth over Rs 6,100 crore from the Adani Group. The company will install 15 flue gas desulphurisation units at Adani Group’s coal-based units at Mundra, Tiroda, Udupi and Kawai. It said the installation is expected to be executed within 30 months.