Today’s top morning headlines - 24th August 2023

Markets are trading flat as of 12:20 PM, with the NIFTY50 trading above the 19,450 level. Here are the top stories of the hour. Let us know what you think in the comments below!

Top gainer: Adani Enterprises: 2,588 ▲ 57 (+2.2%)
Top loser: Jio Financial: 213 ▼ 11 (-4.9%)

:star: Stocks involved in moon mission fly high
MTAR Technologies, Centum Electronics, Paras Defence’s share rose in the range of 7% to 11% today. These stocks were involved in the successful launch and landing of the Chandrayaan-3 mission to the moon. Companies supplied one or several components for this mission.

:star: P&G Health decline on weak Q4 result
Shares of Procter & Gamble Health declined over 4% today after reporting disappointing fourth-quarter financial results. Company reported total sales of ₹306.6 crore, up 3% YoY in Q4FY23. However, its net profit declined by 28% YoY to ₹29.8 crore on account of high material costs and one-time employee cost. Additionally, the company announced a final dividend of ₹50 per share for the financial year ending June 2023.

:star: Vascon Engineers hits 52-week high on order win
Vascon Engineers shares hit a new 52-week high, gaining over 9% after securing a new order. Company bagged a work order worth ₹605.6 crore from the Bihar government to construct a hospital and residential building in the Supaul district. The project will be executed within 36 months.

:star: Vishnu Prakash R Punglia IPO opens today
The ₹308 crore IPO of Vishnu Prakash R Punglia Limited opened for subscription today and will remain open till 28 August. Company is engaged in designing and constructing infrastructure projects for the central and state governments. The price band of this issue is set at ₹94 to ₹99 per equity share. So far, the IPO has received a total subscription of 1.3 times as of 12:15 pm. To apply for this IPO, click here.