Markets are trading in the green as of 12:00 pm, with the NIFTY50 trading above the 19,300 level. Here are the top stories of the hour. Let us know what you think in the comments below!
Top gainer: ONGC: 183 ▲ 8.8 (+5.0%)
Top loser: Asian Paints: 3,230 ▼ 25 (-0.7%)
NCC gains on robust monthly business
Shares of the construction firm rose more than 4% intraday after the company said it has secured four orders collectively worth ₹8,398 crore in August 2023. These new orders come from the electricity boards of different states and involve setting up of electrical meters and distribution systems.
Navneet Education hits 52-week high
Shares of Navneet Education surged over 5% after its management announced major changes to rationalise the group structure and achieve better synergies. Company’s board has approved the amalgamation (merger) of a step-down subsidiary and the demerger of the ed-tech business of Navneet Futuretech Limited into Navneet Education Limited.
Genus Power hits upper circuit on order win
Genus Power Infrastructure shares were locked in the upper circuit of 5% after its wholly owned subsidiary secured a new order worth ₹2,247 crore. The order involves the design of an advanced metering infrastructure (AMI) system with supply, installation and commissioning of over 24 lakh smart meters to state governments. Meanwhile, the company’s total order book now stands at ₹11,000 crore.
India Pesticides rises on expansion plans
Agro-chemical company said it has acquired a new land parcel in Uttar Pradesh, near its existing plant to set up a pesticides manufacturing unit. The total cost for the land acquisition was ₹9.6 crore. Meanwhile, company’s shares are up over 34% this week amid expansion plans and new projects.