Today’s top morning headlines - 12th September 2023

Markets are trading in the red as of 13:00 pm, with the NIFTY50 trading at the 19,980 level. Here are the top stories of the hour. Let us know what you think in the comments below!

Top gainer: Larsen & Toubro: 2,983 ▲90 (+3.1%)

Top loser: Mahindra & Mahindra: 1520 ▼61 (-3.8%)

:star: KIMS rises on acquisition
Shares of the healthcare services provider rose 3.3% in intraday. The company has bought an additional 13.24% equity stake in Kondapur Healthcare, which is expected to start operations soon. KIMS acquired this stake for ₹20 crore, taking its total holding in Kondapur Healthcare to 19.86%.

:star: L&T gains on buyback price increase

The engineering & infrastructure firm’s shares climbed over 4% intraday. The company has increased its share buyback price to ₹3,200 from ₹3,000 announced earlier. The company had announced a buyback worth ₹10,000 crore in July. The record date for the company’s buyback is 12 September 2023.

:star: TVS Supply Chain Solutions falls
The network and supply chain solutions provider’s shares dropped over 6% in intraday trading. This comes after the company’s consolidated net loss widened to ₹65.3 crore for the Q1 FY24. The shares had hit their 52-week high in the previous session.

:star: SGB 2023-24 Series II open for subscription
The Sovereign Gold Bond (SGB) 2023-24 Series II opened for subscription this week. The price for the current series is set at ₹5,873.00 per gram, including a discount of ₹50 for payments made online. The scheme is backed by the government and pays 2.5% interest on the issue price. You can apply for this series until 15 September 2023. To apply, click here.