Today’s top morning headlines - 25th August 2023

Markets are trading in the red as of 12:00 PM, with the NIFTY50 trading around 19,300 level. Here are the top stories of the hour. Let us know what you think in the comments below!

Top gainer: Jio Financial: 224 ▲ 10 (+4.9%)
Top loser: L&T: 2,639 ▼ 48 (-1.8%)

:star: Defence stock rises as MoD gives its nod
Defence stocks, including Bharat Electronics, Hindustan Aeronautics, MTAR Technologies rose between 1% to 2.5% intraday. This comes after the Ministry of Defence (MoD) gave its nod to proposals worth ₹7,800 crore to procure several military equipment for the Indian Armed Forces. These stocks rose in anticipation of new defence orders.

:star: Jio Financial exclusion from benchmarks deferred
Jio Financial Services (JFS) exclusion from the NIFTY50 and SENSEX has been delayed for another three days. This comes after JFS stock opened at a 5% lower circuit for the fifth consecutive day. However, JFS shares recovered later in the day, rising over 4% around 12:00 pm.

:star: Kaynes Technology rise on new project
Shares of the electronic manufacturer rose more than 14% intraday after it signed an agreement with the Karnataka government. As per the agreement, through its subsidiaries, the company will invest ₹3,750 crore to set up a semiconductor assembly & testing facility and a printed circuit board (PCB) manufacturing plant.

:star: Astra Microwave hits 52-week high on order win
Astra Microwave shares hit a new 52-week high, gaining over 6% after securing a new order. Company bagged a new order worth ₹158 crore from DRDO, ISRO and DPSU to supply satellite subsystems, airborne radar and subsystems of radar.

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