Apart from FMCG and Oil & Gas, all other sectoral indices ended in the red. Bank, information technology, metal, PSU bank and realty were down 1-3 percent. BSE midcap and smallcap indices fell 0.5 percent each
Indian benchmark indices ended lower on August 29 amid selling across the sectors barring FMCG. At close, the Sensex was down 861.25 points, or 1.46%, at 57,972.62 and the Nifty was down 246 points, or 1.40%, at 17,312.90.
Reliance Industries | CMP: Rs 2,600 | The share price ended marginally in the red amid weak market conditions. Mukesh Ambani, the billionaire chairman and managing director of the oil-telco-retail conglomerate, said, Jio 5G will be the world’s largest and most advanced 5G network. Jio will deploy the latest version of 5G, called standalone 5G. Reliance Retail is all set to venture out into the fast-moving consumer goods business after making tremendous growth in the retail business. Over the next five years, Reliance will invest Rs 75,000 crore and expand capacities in existing and new value chains, Ambani said, adding that the conglomerate has commenced its journey to become net carbon zero by 2035 with a set of concrete actions, he said. The firm aims to establish and enable at least 100GW of solar energy by 2030, he added.
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Puravankara | CMP: Rs 103.50 | The stock price ended in the red amid weak market conditions. Puravankara received board approval for the issue of non-convertible Series II debentures via private placement, and non-convertible Series III debentures via private placement. The size of the non-convertible Series II debentures issue is Rs 20 crore and non-convertible Series III debentures is Rs 60 crore.
NHPC | CMP: Rs 36.10 | The share ended in the green on August 29 after NHPC and the Himachal Pradesh government signed an implementation agreement for the Dugar HE project. Both parties signed a memorandum of understanding (MoU) in September 2019 for the execution of the project.
Tata Steel | CMP: Rs 105.05 | The scrip shed 2 percent on August 29. Tata Steel signed a memorandum of understanding with the government of Punjab for setting up of a 0.75 MnTPA long products steel plant with a scrap-based electric arc furnace (EAF).
RITES | CMP: Rs 299 | The stock gained 3 percent on August 29 after the firm secured a new business order with a joint venture partner for the redevelopment of Kollam Railway Station for Rs 361.18 crore from Southern Railway, Ernakulam, Kerala. The share of RITES in the order is 51 percent, the company said.
Syngene International | CMP: Rs 605 | The stock ended in the green after the company entered into an agreement for the acquisition of renewable power by acquiring an equity stake of up to 26% in O2 Renewable Energy II Private Limited. O2 Renewable Energy II Private Limited is the special purpose vehicle formed by O2 Energy SG Pte Ltd for the generation and supply of renewable power.
Adani Transmission | CMP: Rs 3,860 | The stock price added over 2 percent on August 29. The company entered into the top 10 most valued Indian listed firms after its shares rallied over 120 percent so far this year. This is the second Adani Group firm after Adani Green Energy, which achieved this milestone. Adani Green Energy, however, erased some of its gains and now ranks 15th listed firm in India.
BEML | CMP: Rs 1,814.70 | The scrip ended in the red on August 29. The government is likely to invite financial bids for the privatisation of BEML in the December quarter, an official said. Earlier this month, the corporate affairs ministry approved the demerger of land and non-core assets of BEML to BEML Land Assets Ltd. The official said that every shareholder of BEML will get shares in BEML Land Assets and the process of demerger would be completed by the end of September or early October. “Once the demerger process gets over by September-end or by early October, the financial bids for strategic sale of BEML would be invited,” the official told PTI.
L&T Technology Services | CMP: Rs 3,568 | The stock price shed over 2 percent on August 29. The company won a five-year, multi-million-dollar deal from European luxury vehicle maker BMW Group to provide high-end engineering services for the company’s suite of infotainment consoles targeted for its family of hybrid vehicles.
Coromandel International | CMP: Rs 1,060.60 | The share price added 2 percent on August 29 after India Ratings upgraded the long-term issuer rating to “AAA” from “AA+” with a company’s outlook being “Stable”.
Sandip Das
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