Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed the trading session on a subdued note on August 23. The BSE Sensex rose 80.12 points or 0.10% to finish the day’s trading at 81,133.31. The NSE Nifty 50 closed 22.25 points or 0.09% higher at 24,833.75. The Bank Nifty closed the day 0.05% or 24.35 points higher at 50,961.35. The Nifty Midcap 100 closed 310.25 points or 0.53% higher at 58,534.60.
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The NSE Nifty 50 closed 0.09% higher at 24,833.75, while the BSE Sensex closed 0.10% higher at 81,133.31.
Bajaj Auto, Coal India, Tata Motors, Sun Pharma, and Bharti Airtel were the top gainers in the Nifty 50. Meanwhile, Wipro, Divi’s Laboratories, Nestle India, LTIMindtree, and Asian Paints were the major losers in the Nifty 50 on August 23.
“We expect the rupee to trade with a slight negative bias as traders remain cautious ahead of Fed Chair Jerome Powells speech at the Jackson Hole Symposium which could provide some cues on Fed’s path to cut interest rates. Weak US and Asian markets and a recovery in crude oil prices may pressurise the rupee while positive domestic markets may support the Rupee at lower levels. USDINR spot price is expected to trade in a range of Rs 83.70 to Rs 84.20,” said Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas.
Shares of Jain Irriation Systems rallied 14.5% to an intraday high of Rs 41.90. The surge in the stock price came after it signed an MoU with Cofee Board of India. “Jain Irrigation Systems Ltd. (JISL) is the first company in the world to have successfully developed a Tissue Culture protocol for coffee varieties. JISL has signed a landmark MoU with the Coffee Board of India for the commercial release of the advanced high quality, disease-resistant coffee plants to growers. This collaboration is set to transform the coffee industry,” read an exchange filing.
Ecos (India) Mobility and Hospitality Ltd. has set a price band of Rs 318-334 for its Rs 601-crore initial public offering (IPO). Investors can place bids for a minimum of 44 shares per lot, with the option to apply in multiples of this lot size.
Shares of JSW Energy Ltd saw an almost 2% increase in early trading on Friday, August 23. This uptick followed the company’s announcement that its wholly-owned step-down subsidiary had secured a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM).
Bajaj Auto shares are in the green for the fourth consecutive day, climbing over 4% today. This impressive performance positions the stock as the top gainer on the Nifty index. Over the past month, Bajaj Auto has recorded a notable 10% increase, and it has gained 54.14% year-to-date. The stock has shown consistent growth, rising in six out of the last seven trading sessions.
Shares of Relinace Infrastructure fell more than 14% to an intraday low of Rs 201.99 after the final order on Reliance Home Finance revealed that Anil Ambani has been barred from securities market for a period of 5 years and slapped a penalty of Rs 25 crore.
ICICI Securities has received a demand notice under Section 73 of the Goods and Service Tax Act, 2017, from the State Goods and Service Tax Department of West Bengal, totaling Rs 12,51,315. Despite this, the company’s shares rose by 1.51% on the NSE, trading at Rs 807.50.
CRISIL Ratings has upgraded its long-term rating on YES BANK’s Tier-II bonds (under Basel III) and infrastructure bonds to ‘CRISIL A+/Stable’ from ‘CRISIL A/Positive’. The agency has also reaffirmed its short-term rating on the bank’s certificates of deposit (CD) at ‘CRISIL A1+’.
The BSE saw 2,107 stocks advancing, while 1,658 declined, and 142 remained unchanged. A total of 3,907 stocks were traded. Of these, 280 reached a 52-week high, and 13 hit a 52-week low. Additionally, 344 stocks traded in the upper circuit, while 155 stocks faced the lower circuit.
L&T Finance has been hit with a monetary penalty of Rs 35,345 imposed by the Deputy Commissioner of State Tax, Sector 1, Dehradun, Uttarakhand, under Section 73 of the Central Goods and Service Tax Act, 2017. The company is contesting the order in higher appellate forums.
Shares of SEPC Ltd. surged by over 18% on Friday after the company announced that it had received the Final Acceptance Certificate from The Hutti Gold Mines Limited for a contract awarded in 2013. The certificate indicates that the work associated with the contract has been completed and found satisfactory.
IndusInd Bank has announced its partnership with the Paralympic Committee of India (PCI) as the Official Banking Partner. Following the announcement, IndusInd Bank shares traded flat on the NSE at Rs 1,382.95.
Shares of Trent Ltd. exceeded Rs 7,000 during Thursday’s trading session, continuing a record-breaking streak that has lasted over a decade. The stock, which hit a low of Rs 365 on March 24, 2020—when the country went into a full lockdown due to the Covid-19 pandemic—has surged nearly 20 times from those levels in just over four years.
Approximately 4.09 crore shares, or 1.4% of Nykaa’s equity, were traded in this block deal. The Bangas planned to sell their stake at a floor price of Rs 198 per share, which is a 5.9% discount to Thursday’s closing price of Rs 210.
Pidilite Industries’ stock declined by 1.12% on the NSE, trading at Rs 3,092.20 after Pidilite Industries has received an order from the Assistant Commissioner, Ghatak 55 (Bharuch), Range-14, Division-6, Gujarat, imposing a penalty of Rs 74,041. The penalty is related to an assessment conducted for the financial year 2019-2020 under the provisions of the Central Goods and Service Tax Act, 2017.
CDSL shares are trading ex-bonus today, with the stock rising by as much as 10% following the company’s 1:1 bonus issue announcement. This bonus issue entitles shareholders to receive one additional share for every share held as of the record date, August 24.
Read More: CDSL shares jump 10% as stock trades ex-bonus
Megasoft’s stock rose by 2.24% to Rs 60.29 on the NSE after the company announced that its promoter, Ramanagaram Enterprises Private Limited, had sold 5,00,000 equity shares in the open market.
The Securities and Exchange Board of India (SEBI) has imposed a five-year ban on Anil Dhirubhai Ambani, restricting him from participating in the capital markets. The markets regulator has also levied a penalty of Rs 25 crore on Ambani for diverting funds from Reliance Home Finance.
In addition to Ambani, SEBI has barred 27 other entities, including key officials from Reliance Home Finance, from the capital markets. During the five-year period, Anil Ambani will be prohibited from holding any position such as director or key managerial roles in any listed companies or intermediaries registered with SEBI.
Read More: SEBI bars Anil Ambani from capital market for five years
As of 12 noon, the NSE saw notable movements among top gainers and losers. Bajaj Auto led the gainers with a rise of 3.30%, followed by Coal India with a gain of 2.07%, and Tata Motors up by 1.91%. Hero Motocorp increased by 1.78%, and BPCL gained 1.60%.
On the losing side, LTIMindtree fell by 1.13%, Divi’s Lab declined by 1.02%, and Tech Mahindra dropped by 0.94%. Infosys and TCS also saw losses, down 0.78% and 0.75%, respectively.
Shakti Pumps’ stock rose by 1.69% to Rs 4,525 on the NSE after the company secured its first order from the state of Jharkhand. The Jharkhand Renewable Energy Development Agency awarded the company a contract for 400 Solar Water Pumping Systems (SWPS) at various locations across the state under Component-B of the PM-KUSUM scheme. The total order value is approximately Rs 9.40 crore.
SEPC has received the final acceptance certificate from The Hutti Gold Mines Limited (HGML) for a contract awarded in 2013, valued at Rs 232 crore. The contract involved the construction of a new circular shaft with complete winding installations on a turnkey basis at Hutti, Raichur District, Karnataka. Following this development, SEPC shares rose 2.17% on the NSE, trading at Rs 22.09.
Shares of RailTel Corporation rallied 7.6% to an intraday high of Rs 507.45. The surge in stock price came a day after the company received an order worth Rs 52.66 crore from the Uttar Pradesh government. “…RailTel Corporation of India Ltd. (“the Company”) has received the work order from Uttar Pradesh Police Recruitment And Promotion Board for Service amounting to Rs. 52,66,30,075 (Excluding Tax),” read an exchange filing.
SEBI barred industrialist Anil Ambani and 24 other entities from the securities market for five years for diversion of funds from the company. Furthermore, the market’s regulator imposed a penalty of Rs 25 crore on Anil Ambani.
“The gems & jewellery sector domestically has been performing well as compared to the global market scenario. The resilience in the Indian economy is reflected in the empowered purchasing ability of consumers and we look forward to seeing this trend further strengthen with the onset of the festive season. The price correction in gold after the custom-duty cut will be passed down to the buyers, ultimately driving up sales. The demand for lightweight or contemporary jewellery is gaining traction, influenced by the buying habits of young people. Due to this, we look forward to an uptick in demand by 10-15% during this phase as compared to the rest of the year,” said Colin Shah, MD of Kama Jewelry.
The Orient Technologies IPO will close for subscription on August 23. The issue has been oversubscribed by 17.5 times the number of shares offered. The retail segment was particularly popular, being booked over 25 times, while the Non-Institutional Investor (NII) category was subscribed 21.75 times. The IPO, which opened for bidding on August 21, aims to raise Rs 214.76 crore.
Read More: Orient Technologies IPO closes today: Check subscription status, GMP, and other key details
Zomato’s share price gained over 3% on Friday following the company’s decision to shut down its Intercity Legends services. The stock rose by up to 3.68%, reaching Rs 267.30 per share on the BSE.
JSW Renew Energy Twenty Limited, a wholly-owned step-down subsidiary of JSW Energy, has signed a Power Purchase Agreement with Bangalore Electricity Supply Company Limited for a 300 MW solar power project. Following the announcement, JSW Energy shares rose by 1.15% on the NSE, trading at Rs 718.90.
CDSL shares are trading ex-bonus today, following the company’s bonus issue which took effect. The stock has risen by up to 6% following the adjustment.