Markets are trading in the green as of 1 pm, with the NIFTY50 trading above the 20,000 level. Here are the top stories of the hour. Let us know what you think in the comments below!
Top gainer: Coal India: 281 ▲ 10 (+3.9%)
Top loser: Larsen & Toubro: 2,898 ▼ 45 (-1.5%)
KEC hits 52-week high on order win
Shares of the KEC International rose by nearly 5 intraday, hitting a 52-week high. The company announced that it has secured new orders worth ₹1,012 crore in various segments from domestic and international clients. The orders include civil works, transmission and distribution (T&D) projects, and cables.
GMR power gains on new deal
Shares of GMR Power and Urban Infra rose nearly 10% intraday. The company bagged a smart metering project from Dakshinanchal Vidyut Vitran Nigam Limited worth ₹2,470 crore. The project involves installing over 25 lakh smart meters and providing operation and maintenance services for 27 months and 93 months, respectively.
NBCC rises on new agreement
Shares of NBCC rose by nearly 2% intraday. This came after the company announced that it has entered into an MoU with IRCTC, a subsidiary of Indian Railways, for providing interior works for its new office space at World Trade Centre in Delhi. The tentative cost of the project is ₹31.4 crore.
RR Kabel IPO opens today
The ₹1,964 crore IPO of RR Kabel opened for subscription today and will remain open till 15 September. The company is engaged in the business of manufacturing wires and cables. The price band of this issue is ₹983 to ₹1,035 per equity share. As of 12:45 pm, the IPO has received a total subscription of 10%. To apply for this IPO, click here.