Today’s top morning headlines - 1st December 2023

Good afternoon,

Markets are trading in the green, with the NIFTY50 scaling to a new record high and now trading above 20,250 as of 1:00 pm. Here are the top stories for the day!

Top gainer: NTPC: 273 ▲ 11 (+4.5%)
Top loser: Wipro: 407 ▼ 5 (-1.3%)

:star: Biocon gains on subsidiary’s business integration
Biocon subsidiary Biocon Biologics has successfully completed the integration of the Viatris biosimilars business across 31 European countries. Biocon Biologics acquired Viatris’ biosimilar business in November 2022. After this, both companies are doing business integration of their biosimilars operations across various countries.

:star: Power Grid rises on new orders
Shares of the PSU power transmission company rose 1.5% intraday after the company was declared as a successful bidder for two inter-state transmission system projects. These new projects include the establishment of a new transmission line in Rajasthan.

:star: ITD Cementation hits 52-week on new order win
Shares of the infrastructure company rose more than 8%, touching a fresh 52-week high of ₹304.8 per share. This comes after the company secured a new project worth ₹1,001 crore. The project work involves civil & hydro mechanical works of a 500 MW hydel power project in Andhra Pradesh.

:star: Flair Writing Industries makes bumper debut
Shares of Flair Writing Industries list at a premium of over 64% compared to the issue price of ₹304 per share. Shares of the company opened at ₹501 per share on NSE. The IPO, which was open for subscription between 22 November and 24 November, had received strong investor interest.