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Indian equity markets ended a volatile and rangebound session little changed, but with a positive bias.
The S&P BSE Sensex ended 0.16% higher at 38,417 while the NSE Nifty 50 index ended 0.2% higher at 11,355.
Overnight cues will be absent for tomorrow as the U.S. Markets are shut on account of a holiday.
Among sectoral indices, the Nifty Bank index recovered nearly 250 points from the day's low during the final minutes of trade to end little changed.
Nifty Realty was the top sectoral laggard, ending 1% lower while most other sectoral indices ended flat.
Nifty I.T. and Nifty FMCG were the top sectoral gainers, ending 0.6% higher each.
The midcap index underperformed the benchmarks in today's session, ending 0.9% lower while the smallcap index ended flat.
India Volatility Index ended 2.5% lower at 21.59.
Market breadth remained in favour of the laggards. 740 stocks on the NSE ended with gains while 1,091 posted losses.
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The company informed the exchanges that the board has approved the plan of the promoter and promoter entites to delist the stock from the bourses.
The delisting price has been set at Rs 92.58 per share, which is a 22% discount to Friday's closing price.
The proposal was approved after the submission of the due diligence report from Inga Ventures.
Shares fell as much as 4.5% to Rs 113.65 and are down for the second straight day.
India's largest lender, State Bank of India has priced one of the riskiest bank capital securities at a record-low coupon.
The lender will sell Additional Tier-1 (AT-1) bonds worth Rs 4,000 crore at a coupon of 7.74%. That is the lowest pricing on such a debt, which can be fully written down in a crisis, issued by any lender since the implementation of the Basel-III capital rules in 2013, Bloomberg News reports.
Stimulus measures from Indian authorities have reduced average borrowing costs in the local credit market to the cheapest in more than a decade.
State Bank of India has AAA credit scores from local credit companies, the AT1 offering is AA+ rated and can be called by after five years or any other year thereafter.
The company has informed the exchanges that its Joint Venture with SPML Infra has been declared as the L1 bidder for a project worth Rs 290 crore in Uttar Pradesh.
The project involves construction of Haraulipur Group of villages, water supply project, comprising surface and ground water supply schemes and allied works including commissioning, operation and maintenance for a period of 10 years, the company said in an exchange filing.
PNC Infratech's share in the JV with SPML Infra stands at 95%.
The project marks the company's foray into the water supply sector and is supposed to be constructed over a period of two years.
Shares are off the day's low, recovering after falling as much as 1.7% to Rs 159.7, post the announcement.
The company has informed the exchanges that the promoters - Fenton Investments, Wilemina Finance and Movi Ltd. have increased stake in the company to 64.04% from 59.13%.
The promoters acquired an additional 4.9% stake between August 11 - September 1 through off-market transactions, the company said in an exchange filing.
The statement also said that the company is focused on de-commoditizing its film business by nearly doubling the share of specialty, value added products to 30% over the next two years from the current 16%.
The company intends to scale up its BOPET capacities by setting up a new facility through a wholly-owned subsidiary in Telangana. The first phase of the project, with a capital outlay of Rs 500 crore is likely to be completed by Q3FY22.
Shares gained as much as 4.8% to Rs 75.95, post the announcement and are up for the fourth straight day.
The company has informed the exchanges that it has secured a $48 million contract for a sewage treatment plant at the New Jeddah Airport.
The company will build a 300 Million Litres Per Day (MLPD) at the new Jeddah Airport, the exchange filing said.
The order in rupee terms is valued at approximately Rs 360 crore.
The plant will be designed to be expandable towards 500 MLD of wastewater treatment.
"The project will further expand our growing footprint in the middle-east region," Deep Raj Saxena, CEO of the company's middle-east and Africa cluster said.
Shares gained as much as 2% to Rs 202.7, post the announcement.
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Shares are off the day's high, currently trading 2.8% higher at Rs 12.39, post the announcement.
The company has confirmed the order of nearly 12,000 wheels from the U.S. and EU trailer market.
The order, worth nearly $1 lakh will be executed in the month of October from the company's Chennai plant, the exchange filing said.
The company expects orders of similar capacity going forward.
Shares fell as much as 1.5% to Rs 448.5, before recovering post the announcement. The stock is down for the third straight day.
The I.T. major has informed the exchanges that it has partnered with TPT South Africa for pioneering its logistics supply chain transformation.
TPT or Transnet Port Terminals is a state-owned freight transport and handling company. TCS will help TPT develop an integrated online marketplace platform by bringing together cargo owners, shipping lines, clearing and forwarding agents, the exchange filing said.
The Cargo Connect marketplace is expected to be ready in the next 12 months.
Shares are at the day's high, gaining as much as 2.1% to Rs 2,337.9. The stock is trading at a record high.
Brokerages however are divided on the prospects of the stock going forward. Antique stock broking has maintained its buy rating on the stock with a price target of Rs 44, citing its long alumina position and integrated business model.
However, Emkay has maintained its sell rating on the stock with a price target of Rs 30, citing a cloudy outlook beyond the third quarter of FY21.
Shares fell as much as 2.75% to Rs 35.3 and are down for the second straight day.
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The company has announced that it has signed orders worth 300 million Australian Dollars or Rs 1,600 crore in Australia.
The company along with its Australian subsidiary has bagged two large-scale solar projects in the country, which will have an installed capacity of over 300 MW, the company said in an exchange filing.
"With this, the total order book of the company in Australia stands at Rs 6,350 crore," Director and Global CEO Bikash Ogra was quoted as saying.
"With the continent’s regulatory environment becoming more conducive towards renewable energy and the prevalence of high electricity tariff, the commercial viability of solar projects is improving," he further said.
Shares gained as much as 6% to Rs 285, post the announcement. The stock is up for the fifth straight day - the longest winning streak in over two months.
Shares fell as much as 7% to Rs 771.9, to its lowest level in over a month.
The company has informed the exchanges that it has won a purchase order worth Rs 32 crore from Sterlite Technologies and L&T Construction for its Gigabit Passive Optical Network fiber-to-the-home equipment.
The order is for a state-led Bharatnet project in South India, the company said in an exchange filing.
Tejas Networks will supply its state-of-the-art GPON, OLT and ONT products for this project, which is being funded as a part of BharatNet.
Shares are locked in an upper circuit of 5% at Rs 64.40, post the announcement. The stock is up for the second straight day.
The currency has opened the new week on a flat note, after ending as the second best performer in Asia last week.
The rupee opened at 73.17 against the U.S. Dollar as compared to Friday's close of 73.14.
There is scope for further tactical gains in the Indian rupee and a couple of other currencies given supportive valuations, high carry-to-volume ratios, and relatively stable fundamentals, Barclays wrote in a note.
Within the bond markets, traders will assess the interest on bonds after the government sold 2025 and 2050 bonds at highter-than-expected yields last week.
According to AU Small Finance Bank, the RBI is probably trying to anchor bond yields around 6%, keeping in mind the interest of the banks and the government.
The company has informed the exchanges that the Power Transmission and Distribution business of L&T Construction has won a 'large' order.
The order pertains to establishing transmission lines and substations associated with a major infrastructure project in Telangana.
The scope of the project involves establishing three new substations of 400 kV with reactors and more than 170 kilometers of 400 kV transmission links, on a turnkey basis, the company said in an exchange filing.
The company has also won another order to provide electrical and mechanical systems for two tunnels of the Udhampur-Srinagar-Baramulla rail project.
It has also won a package to construct 400 kV overhead lines connecting three grid stations in Oman while a repeat order has been won from a reputed client in the middle east, the company said.
As the company has classified the order as 'large' the order ranges between Rs 2,500 crore - Rs 5,000 crore.
Shares recovered from the day's low after declining as much as 2.8% to Rs 916.1, post the announcement.
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A-shares of the passenger vehicle maker are trading with gains in today's session after promoter Tata Sons increased its stake in it on Friday.
Tata Sons acquired 53 lakh shares of Tata Motors DVR, amounting to 1.04% stake on Friday at a price of 56.02 per share.
Shares gained as much as 11.4% to Rs 62.5 and are up for the fourth straight day. This was the biggest single-day gain for the stock in over four months. It now trades at the highest level since February this year.
Shares of Tata Motors cooled off after gaining as much as 2.8% to Rs 152 - which was its highest level in seven months.
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Indian equity markets have opened on a mixed note, after Asian markets stabilised post a weak start to the new trading week.
The S&P BSE Sensex opened 0.2% lower at 38,284 while the NSE Nifty 50 index has opened 0.2% higher at 11,359.
Among the sectoral indices, private banks are the top laggards with the Nifty Bank index opening 0.7% lower.
Most other sectoral indices have opened but with a positive bias. The Nifty Media index is up 0.6% while the Nifty Auto, Nifty Pharma and Nifty Realty indices opened with gains of 0.5% each.
Broader markets are trading with gains. The Midcap index is up 0.4% while the smallcap index has gained 0.55%.
881 stocks on the NSE have opened with gains while 338 are declining.
For details on earnings reported after market hours, key brokerage updates and F&O cues, click here.
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