BSE midcap and smallcap indices gained over a percent each. Among sectors, except IT and FMCG, all other sectoral indices ended in the green
Benchmark indices ended higher on August 24 with the Nifty above 16,600 led by the metal, pharma, banks and power stocks. At close, the Sensex was up 403.19 points, or 0.73%, at 55,958.98, and the Nifty was up 128.10 points, or 0.78%, at 16,624.60.
Bajaj Finserv | CMP: Rs 16,460 | The scrip jumped over 7 percent after the company received in-principle approval from the Securities and Exchange Board of India (SEBI) for sponsoring a mutual fund. The company would be setting up an asset management company and the trustee company, directly or indirectly i.e., itself or through its subsidiary, in accordance with SEBI regulations and other laws, Bajaj Finserv said.
Lupin | CMP: Rs 940 | The stock ended in the green on August 24. Lupin Healthcare (UK) Limited, a wholly-owned subsidiary of Lupin Limited, announced the launch of Luforbec® (beclometasone/formoterol) 100/6 dose pressurised metered dose inhaler (pMDI).
Tata Power | CMP: Rs 126.15 | The stock added a percent after the company’s subsidiary Tata Power Renewable Energy announced the commissioning of a 150-MW solar power project at Loharki village in Rajasthan. The plant is expected to generate more than 350 million units annually, the company said in the release.
Asian Granito | CMP: Rs 167.30 | The share price jumped over 9 percent after the board approved issuing equity shares through rights issue under the fast-track mode.
Infosys | CMP: Rs 1,721.50 | The stock hit a new record high on August 24 before closing in the red. The market capitalisation of the IT firm hit the $ 100-billion mark. Infosys announced the signing of a new contract for a minimum of three years with UCAS, the admissions service for higher education in the UK.
Maruti Suzuki | CMP: Rs 6,795 | The share price ended in the red after the Competition Commission of India (CCI) imposed a fine on the company for anti-competitive practices. The CCI imposed a fine of Rs 200 crore for how it forced dealers to discount cars.
Atul Auto | CMP: Rs 196.85 | The stock jumped over 5 percent on August 24. Credit Rating Agency, CRISIL, assigned CRISIL A-/ Stable (Downgraded from CRISIL A/ Stable) to long-term bank facilities and CRISIL A2+ (Downgraded from CRISIL Al) to short-term bank facilities of the company.
Indian Hotels | CMP: Rs 139 | The stock price ended in the green on August 24. The company will come out with a Rs 3,000-crore rights issue, making it the biggest fund-raising activity by the Tata Group company in the recent past.
Sanghvi Movers | CMP: Rs 187 | The scrip jumped over 7 percent after ICRA upgraded the long-term rating to ICRA A from ICRA A- and upgraded short-term rating to ICRA A1 from ICRA A2-.
Nucleus Software | CMP: Rs 542 | The stock added over 3 percent on August 24 following a tech tie-up with South Indian Bank. The company said it will empower South Indian Bank by providing the best in class digital solution offering to revamp the bank’s current retail lending landscape, it said in a release.
Sandip Das
