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Nifty, Sensex snap their two-session rally after hitting record highs
Intraday, both Nifty and Sensex rose as much as 0.3% to hit their new record highs of 25,482.20 and 83,326.38 respectively
Nifty ends 0.16% or 41 points lower at 25377.55
Sensex ends 0.16% or 131.43 points lower at 82948.23
Broader indices underperformed; Nifty Midcap 100 ended 0.47% down while Nifty Smallcap 250 closed 0.36% lower.
Except Nifty Financial Services , Nifty PSU Bank, and Nifty Bank, all sectoral indices ended lower
Nifty IT fell the most by over 3% ahead of anticipation of an interest rate cut by US Federal Reserve
Shriram Finance and Bajaj Finance were top Nifty gainers
TCS and HCL Tech fell the most
Global asset allocators focused on emerging markets will find it difficult to overlook India, says Vikas Khemani, founder of Carnelian Asset Management & Advisors. Khemani expressed a strong bullish outlook for the Indian market, predicting a significant inflow of foreign investments in the coming years.
Read more here.
Ashwani Bhatia, WTM, SEBI, at the launch of Data Benchmarking Institutions said that REITs growing in India since 2014 SEBI regulations and the total REIT assets in India are at 1.4 lakh crores. He also said that SEBI supports small REIT investments and DBI offers standardized data for transparent valuations.
DBI tool allows real-time asset valuation adjustments, he said.
Got BSE letter on scheme of arrangement with 'no adverse observations'. Board has approved SoA amongst company, Siemens Energy & Shareholders on May 2024.
Source: Exchange Filing
The Finance Ministry is seeking to fast-track the review of Income-Tax Act 1961 to target its completion by January, ahead of the Union Budget in the following month, according to people aware of the development.
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Heritage Foods has approved setting up an ice-cream manufacturing facility in Telangana and said it expects the new facility will be commissioned by November 2025 with capital investment Of Rs 204 crore.
Source: Exchange Filing
NSE Sets Record Date For 4:1 Bonus Share Issue
Board declares interim dividend of Rs 1/share for FY25
Source: Exchange Filing
SBI Raises Rs 7,500 Crore Via Second Tranche Of Tier-II Bond At 7.33%
Lupin Joins Hands With Japan's Takeda To Sell Vonoprazan In India
Nifty, Sensex Notch Fresh Highs Ahead Of Fed Meet Outcome: Midday Market Update
TCS Guides Softer Q2 — IT Stocks Erode Over Rs 95,000 Crore In Market Cap
SpiceJet’s Statutory Dues At Nearly Rs 800 Crore
The company's arm has got letter of award for development of 400 MW hybrid project from Maharashtra Discom.
Source: Exchange filing
Zee Entertainment has categorically refuted all claims & assertions made by Star India including claims for damages and said that the alliance agreement between Star India & Company has been validly terminated by Star India. Damages will be determined as of the date of the tribunal’s award, it said.
Source: Exchange Filing
TCS has signed deal with McDonald's Philippines to digitise IT operations for over 760 restaurants.
Source: Exchange filing
UK August Consumer Prices rise 2.2% year-on-year, matching estimates
UK August Core CPI rises 3.6% year-on-year, matching estimates
Source: Bloomberg
Brokerage firm Citi Research has maintain a 'sell' on LTIMindtree with target price of Rs 6,417, implying upside of 0.4%. It said the company's margins are likely see continued pressure and growth is moderate from cost takeout deals. Meanwhile, the brokerage likes its demand outlook better than last year and is seeing easing in demand environment.
The company had appointed Biji Chacko as COO of the company.
Source: Exchange filing
The company has introduced WealthForce.AI for Middle East market. WealthForce.AI is built on eMach.ai standards
Source: Exchange filing
Aurobindo Pharma's arm Eugia Steriles has got establishment inspection report from US FDA for its facility situated at Parawada Mandal, Anakapalli District, Andhra Pradesh.
Source: Exchange Filing
Srigee DLM files for IPO including fresh issue of 17.15 lakh shares.
Source: DRHP
Click here to find out.
Govt has approved NPCIL-NTPC JV company for nuclear power projects. The JV will build, own, and operate nuclear power plants and the Govt has given exemption on Rs 5,000 crore investment.
Source: Company Statement
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Oil India, ONGC, IOC Shares Gain After Centre Cuts Windfall Tax To Zero
The Visakhapatnam plant of Vishnu Chemicals has resumed full operations effective today.
Source: Exchange Filing
Shares of Torrent Power Ltd. rose as much as 5.23% to Rs 1,873.10. It was trading 2.46% higher at Rs 1,823.80 as of 10:27 a.m., as compared to 0.03% decline in the NSE Nifty 50 index.
The scrip gained 152.12% in 12 months, and 94.99% on year to date basis. Total traded volume so far in the day stood at 4.5 times its 30-day average. The relative strength index was at 62.62.
Out of 11 analysts tracking the company, three maintain a 'buy' rating, three recommend a 'hold,' and five suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 24.05%.
Government has upgraded garden reach to 'Schedule A' status. The company said that it will help to enhance senior management capacity.
Source: Exchange filing
Quantum Mutual Fund has filed appeal against the NCLT Mumbai order. NCLT has approved ICICI Securities delisting despite objections from minority shareholders.
Source: People associated with the case
IGREL Renewables, Inox Wind's private platform has raised Rs 300 crore equity capital from marquee investors.
Source: Exchange filing
Mamaearth will start distribution through canteen stores department under defence ministry, according to an exchange filing.
At pre-open, the Nifty 50 was at 25402.40, down 0.06% or 16.15 points and the Sensex was at 83036.43, down 0.05% or 43.23 points.
Shares of Hindalco Industries will remain in focus after Rohit Pathak, CEO of Copper Division at a recent event said that the company will invest Rs 2,450 crore in Gujarat copper projects.
The company will set up India’s first copper and e-waste recycling plant at Dahej and the overall project targets recovering 200 kt of copper. The new facility will reduce Hindalco's reliance on imported copper concentrate and first phase of project to involve Rs 2,000 crore investment.
The company has received letter of intent from IGREL Renewables for execution of 550 MW wind capacity on turnkey basis.
Source: Exchange filing
Vidarbha Industries Power is no longer a subsidiary of Reliance Power and the entire obligations of the company as a guarantor on behalf of the former stands fully settled including all obligations and claims thereunder in relation to the outstanding debt of VIPL amounting to Rs 3872.04 Crore.
Source: Exchange Filing
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Radhakishan Damani Sells VST Industries Stake Worth Rs 4.39 Crore
Western Carriers IPO Subscribed 9.4 Times On Day 3
US Stocks Open Higher After Key Consumption, Factory Data
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