Shares of TD Power Systems Ltd. gained as much as 9.3% after the company's board approved the splitting of one share of face value of Rs 10 each into five each of face value of Rs 2.
The split is subject to the approval of shareholders of the company and regulators/statutory approvals. The record date will be decided post ensuing AGM and intimated to the stock exchanges.
Shares of APL Apollo Tubes Ltd. fell for the seventh consecutive session, on track for the longest losing streak since the period ended Dec. 26, 2018. It has lost 11% during the streak, compared to a 0.8% decline for the S&P BSE Sensex.
Coal India Ltd. is up for the seventh straight day, on track for the longest winning streak since the period ended Dec. 3, 2020. It has gained 7.6% during the streak, compared to a 0.8% decline for the S&P BSE Sensex.
Rossari Biotech Ltd. is up for the sixth straight day, on track for the longest winning streak since the period ended May 27, 2021. It has gained 5% during the streak, compared to a 0.7% gain for the S&P BSE Sensex.
Shares of Krishna Institute of Medical Sciences Ltd. gained the most in two months after it said it has entered into an agreement to acquire 51% in SPANV Medisearch Lifesciences, Nagpur, that runs a multi-specialty Kingsway Hospital, having over 300+ beds.
Post-acquisition, the hospital will be renamed KIMS Kingsway Hospitals. The acquisition was done for Rs 80 crore.
India's stock benchmarks sustained gains aided by realty, power and auto stocks. The Sensex and Nifty 50 both rose 1.5%.
The 30-stock gauge had added about 850 points to hover around 58,800. The Nifty 50 traded around 17,600. Today 49 of Nifty 50 stocks rose while one fell.
The broader indices mainly mirrored the larger peers with MidCap gauge gaining 1.5% and SmallCap measure jumping 1.1%.
All of the 19 sectoral indices compiled by BSE Ltd. advanced with Realty index gaining 2.3%.
The market breadth is skewed in the favour of bulls. About 2,438 stocks rose, 810 fell and 155 remained unchanged.
Shares of Ramkrishna Forgings Ltd. gained as much as 4.3% after it informed the exchanges that it has won an order wirth Rs 20.5 crore annually from a "market leader in rubber tracks for farm equipment and snowmobiles, as well as in solid and bias tyres for material handling equipment."
Ramkrishna Forgings, while not revealing the company, said it has been awarded the contract for metal bars. "This order has a potential to become an annual business of Rs 80 crore."
Shares of the company gained as much as 4.3% to Rs 205.7 apiece.
Shares of Hindustan Oil Exploration Ltd. gained after the board approved a proposal to raised funds of up to Rs 250 crores by issuance of equity shares/other securities in accordance with SEBI regulations.
The company also approved an increase in the borrowing limits of the board upto a sum of Rs 500 crore.
Shares of the company gained as much as 2.5%, before paring some gains to trade 1.8% lower.
Prasol Chemicals Ltd. has received SEBI's approval to float its initial public offering. The IPO will be a combination of a fresh issue of shares and an offer-for-sale.
It received an observation letter from SEBI, an equivalent of an approval, on Aug. 23.
Shares of Page Industries Ltd. gained as much as 4.2%, the most since June 15.
The stock traded moved to as much as Rs 51,500 apiece on Tuesday. The stock of the maker of Jockey garments in India was the best performer among peers.
The broader indices outperformed their larger peers with mid and small cap gauges gaining over 1%. All 19 sectoral indices compiled by BSE Ltd. advanced with Oil & Gas, Power, Auto, Metal and Banking stocks gaining the most.
The market breadth is skewed in the favour of bulls. About 2,165 stocks rose, 451 fell and 93 remained unchanged.
Adani Enterprises/NDTV: Adani Enterprises said that its arm Vishvapradhan Commercial Pvt. has sought a clarification from the market regulator SEBI on the conversion of NDTV's warrants required for acquisition of stake.
India Grid Trust: The company appointed Harsh Shah as the Chief Executive Officer for a term of five years starting Aug. 30.
Krishna Institute of Medical Sciences: The company t has entered into a definitive agreement to acquire 51% in SPANV Medisearch Lifesciences, Nagpur, that runs a multi-specialty hospital ‘Kingsway Hospitals’, having over 300+ beds. Post-acquisition, the hospital will be renamed ‘KIMS Kingsway Hospitals.’
ICRA: The company has appointed Venkatesh Viswanathan as a Group Chief Financial Officer with effect from Aug. 30.
Zomato: CEO Deepinder Goyal said he has no plan of moving away from day-to-day operations at the company and renaming of Zomato to 'Eternal' isn't in the pipeline yet.
Asian equities decline led by struggles in traction on Tuesday, amid subdued sentiment due to the Federal Reserve’s commitment to a sustained period of restrictive monetary policy.
Japanese acquires. But China tech stocks in Hong Kong slid. U.S. futures fluctuated after Wall Street equities added to a slump that began Friday when Chair Jerome Powell stressed the Fed is willing to let the economy suffer to cool price pressures.
At 8:20 a.m., the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.33% higher at 17,437.50 points.
Oil was near the highest since late July amid potential Libyan production outages that could likely global energy crunch.
