Markets are trading in the green as of 12: 30 pm, with the NIFTY50 trading above the 19,400 level. Here are the top stories of the hour. Let us know what you think in the comments below!
Top gainer: HDFC LIFE: 644 ▲ 19 (+3.0%)
Top loser: Cipla: 1,219 ▼ 13 (-1.1%)
Jio Financial hits lower circuit again
Jio Financial Services (JFS) shares price was locked in the 5% lower circuit for the second straight day. JFS shares slumped to ₹236.4 apiece on the NSE. As per experts, weakness in JFS shares comes amid selling pressure by investors and passive funds that track benchmark indices.
Paytm shares gain on AI bet
Shares of the fintech company rose more than 2% today after the company said it is investing in artificial intelligence (AI) with an eye to build an Artificial General Intelligence software stack. This AI system will help financial institutions detect possible risks and frauds.
Welspun Enterprises rises on new acquisition
Infrastructure firm has successfully acquired a majority stake in Michigan Engineers Private Limited (MEPL) for ₹137 crore. MEPL mainly operates in the water infrastructure segment and will help Welspun Enterprises to expand in the water and tunnelling solutions segment in India.
Aeroflex Industries IPO opens today
The ₹351 crore IPO of Aeroflex Industries opened for subscription today and will remain open till 24 August. Aeroflex Industries manufactures and supplies environment friendly hoses, hose assemblies, exhaust connectors collectively known as flexible flow solutions products. The price band of this issue is set at ₹102 to ₹108 per equity share. So far, the IPO has received a total subscription of xx% as of 12:30 pm. To apply for this IPO, click here.