Today’s top morning headlines - 11th September 2023

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%)

:star: 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.

:star: 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.

:star: 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.

:star: 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.