Today’s top morning headlines - 22nd February 2024

Good afternoon

NIFTY 50 is trading down by 92 points after making a new all time high at 22,249 and is currently hovering around 21,950 levels.

Top gainer: Eicher Motors: 3900 ▲ 63 (+1.6%)
Top loser: Indusind Bank: 1469 ▼ 47 (-3.1%)

:star: South Indian Bank soars on fund-raising plans
Shares of the private bank are up more than 6% today. This comes a day after the lender announced plans to raise ₹1,151 crore through the rights issue.

:star: India’s Composite PMI rises to 7-month high
The India Composite PMI Output Index – which measures the month-on-month change in the combined output of India’s manufacturing and service sectors – rose to 61.5 in February from 61.2 in January 2024.

:star: L&T bags new order
The buildings & factories division of L&T has secured a new order from a reputed real-estate developer worth in the range of ₹1,000 to ₹2,500 crore. The scope of the order includes construction of multi storeyed five residential towers having 62 floors and an allied parking area comprising basements+ground+5 podiums in the Thane region. L&T shares traded flat at ₹3,307 per share, following the order win.