Markets are trading in the green as of 12:45 pm, with the NIFTY50 trading above the 19,900 level. Here are the top stories of the hour. Let us know what you think in the comments below!
Top gainer: Adani Ports: 877 ▲ 52 (+6.3%)
Top loser: ONGC: 183 ▼ 1.3 (-0.7%)
SJVN hits 52-week high on new deal win
SJVN shares rose more than 14% today, hitting a 52-week high. This comes after the company’s green energy arm signed a power purchase agreement with the Bhakra Beas Management Board to develop an 18 MW solar power project. The project will be commissioned by August 2024.
Schaeffler India gains as acquisition of KRSV completes
Shares of Schaeffler India, an auto component maker, jumped more than 3% today. This rise came as the company completed the acquisition of a 100% stake in KRSV Innovative Auto Solutions, which offers spare parts solutions. In August 2023, Schaeffler India announced this acquisition for ₹142 crore.
IRB Infra rises on robust toll revenue
Shares of the highway developer rose over 4% intraday after its toll revenue surged 24% year-on-year to ₹417 crore in August 2023. IRB Infrastructure, through its subsidiary, manages the Mumbai-Pune, Ahmedabad-Vadodara and other tollways.
Ratnaveer Precision makes shining debut
Ratnaveer Precision Engineering listed on the exchanges at a 31% premium today. Shares of the infrastructure company opened at ₹123.2 on NSE, against the issue price of ₹98 per share. Its ₹165 crore initial public offer (IPO) was subscribed over 93 times.