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India's benchmark indices ended lower after gaining for three-straight days on the back of weak global cues and a stronger U.S. Dollar.
The S&P BSE Sensex ended 1% lower at 38,220 while the NSE Nifty 50 index managed to hold the mark of 11,300, ending 0.84% lower at 11,312.
NTPC ended as the top gainer on the Nifty 50 index, with gains of 7%, while Tata Motors was the top laggard, ending 2.6% lower. ICICI Bank, Axis Bank and HDFC were the other major laggards.
Midcaps and Smallcaps were the outperformers in today's session. The midcap index ended 0.8% higher while the smallcap index ended with gains of 0.66%.
Among the sectoral indices, the Nifty Bank ended as the top laggard with cuts of 1.3%. The Media index posted another day of gains, ending 3% higher while the Metal index saw gains of 1%.
Other sectoral laggards included the FMCG, I.T. and auto index which fell close to 0.5% each.
Market breadth remained in favour of the gainers. 1,029 stocks on the NSE posted gains while 806 declined.
Shares are off the day's low after declining as much as 4.75% to Rs 150.45. The stock trades lower for the second straight day.
The company informed the exchanges that it has won export orders for nearly 25,000 wheels for the EU Caravan Trailer Market.
The value for the order is about 2.2 lakh Euros, the exchange filing said.
The order will be executed from the company's Chennai plant in September.
Shares are off the day's high, after gaining as much as 2.5% to Rs 445.
Kotak Institutional Equities has raised its price target on the stock to Rs 1,100 from the previous Rs 1,025.
Shares ended 5.5% lower at Rs 1,187, snapping a five-day gaining streak.
The bank in its board meeting has decided to create, issue, offer and allott 8.84 crore shares of face value of Rs 10 each on a preferential basis.
The shares will be issued at a price of Rs 177 per share, which is a 4% discount to Wednesday's closing price.
The bank will raise Rs 1,566 crore through the preferential issue of shares, the exchange filing said.
Shares will be issued to Maple II - funds affiliated with Baring PE Asia, ICICI Prudential Life, CDC Group, Gaja Capital Among others.
The Capital Adequacy Ratio of the bank will rise to 18.6% with CET-1 ratio rising to 17.4%, post the issue.
Shares recovered from the day's low, ending 1.5% lower at Rs 181.95.
Let's take a look at how Benchmark indices across Europe have opened:
The company announced that it will hold a board meeting on Saturday, August 22 in order to discuss and explore the possibility of raising funds by issue of equity shares or any other method.
The fund raising will not be limited to a private placement, preferential issue and a QIP, the company said in its exchange filing.
The fund raise is subject to shareholder and regulatory approval.
Shares gained as much as 6.6% to Rs 68.9 - the highest level since April 2019. The stock is up for the third straight day.
1.4 crore shares of the Future Group company exchanged hands in five large trades on the Bombay Stock Exchange.
The deals took place between Rs 11-11.24 per share, as per Bloomberg data.
Buyers and sellers in all the five deals remain unknown.
Shares gained as much as 5% to Rs 11.24 and are up for the second straight day.
The state-run power company said on Wednesday that it will reduce the cost of coal supplies at its Kudgi plant by using a newly constructed bridge.
The company said that it will be able to reduce its transportation cost of coal to fuel to its Kudgi Super Thermal Power station to around Rs 200-500 per MT. The move will bring down the cost of electricity generation, a company statement said.
The move will also reduce transit time by 8-15 hours, according to the company.
The company awaits final approval from the South-Western Railway and will begin operations as soon as it gets clearance.
Shares gained as much as 5.9% to Rs 100.2 - the highest level in two months.
The company at its board meeting held yesterday approved raising equity capital to the tune of Rs 1,800 crore.
The capital raising will be done either through a preferential issue or a rights issue, the company said in the exchange filing.
The fund raising will be subject to shareholder and other statutory / regulatory approvals.
Shares gained as much as 3.3% to Rs 284.3. The stock is up for the fifth straight day and is trading at the highest level in five months. Volumes on the stock are 72% higher than its 20-day average.
Motilal Oswal has a price target of Rs 3,550 on the stock, implying a potential upside of 19% from Wednesday's closing level.
Shares gained as much as 4% to Rs 3,100 and are up for the fourth straight day. The stock has more than tripled from its 52-week low of Rs 952 which it made on August 28, 2019.
The company has informed the exchanges that it has declared a special interim dividend of Rs 40 per equity share of face value of Rs 2 each.
The board has also fixed August 27 as the record date for determining the eligibility of shareholders for the dividend.
Shares are off the day's high, after gaining as much as 7.7% - the biggest single-day gain in two months to Rs 1,215. The stock trades at the highest level in five months.
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The company's wholly-owned subsidiary L&T Hydrocarbon Engineering signed a Memorandum of Understanding (MoU) with NTPC on Wednesday.
L&T Hydcocarbon will be the engineering, procurement and construction management partner to build Carbon Dioxide-Methanol demonstratio plant at NTPC's power station, according to the exchange filing.
The partners will further collaborate to accelerate the development and subsequently commercialise Carbon Dioxide to Methanol plants.
Shares of Larsen & Toubro are off the day's low, currently trading 1% lower at Rs 999, after falling as much as 2.8% in early trade.
Shares of NTPC trade near the day's high, rising as much as 1.5% to Rs 96.05, post the announcement. The stock is also the top gainer on the Nifty 50 index.
95 lakh shares of the electrical components manufacturing company exchanged hands in a single large trade on the National Stock Exchange, as per Bloomberg data.
Buyers and sellers of the trade remain unknown.
Shares gained as much as 5.9% - the most in five months to Rs 169.7. Volumes on the stock are now 40 times higher than its 20-day average.
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Indian equity markets opened on a weak note, in-line with its global peers after a three-day winning streak.
The S&P BSE Sensex opened 0.86% lower at 38,283 while the NSE Nifty 50 index opened 0.8% lower at 11,317.
All sectoral indices have opened with losses. The Metal index is the top sectoral laggard, down 1.6% while other indices like the Nifty Bank, Nifty Auto, Nifty PSU Bank and Nifty Realty opened with losses of over 1% each. Nifty FMCG and Nifty I.T. 0.5-1% lower.
Broader markets too have opened lower. Both midcap and smallcap indices have opened with losses of 0.8%.
Market breadth was in favour of the laggards. 1,005 stocks on the NSE traded with losses while 495 managed to gain at the start of trade.
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To know more about the key stocks in focus, brokerage updates and other trading cues, click here.
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