Markets are trading in the green as of 12:30 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: BPCL: 356 ▲ 6.3 (+1.8%)
Top loser: Bajaj Finserv: 1,495 ▼ 8.6 (-0.5%)
L&T gains on buyback approval
L&T shares are up nearly 2% intraday. This comes after the company received shareholder approval for a proposal to buyback shares of up to ₹10,000 crore. The company has set 12 September as the record date for its buyback. The maximum price of the share buyback has been set as ₹3,000, which is at a premium of 12.3% to the current market price.
Bharat Electronics shares rise
Defense PSU Bharat Electronics (BEL) has secured multiple orders worth ₹3,289 crore in July and August month. These new orders come from defence and non-defense categories. With this, BEL has received orders worth ₹11,380 crore till now in FY24. Shares of BEL are trading over 2% higher.
Linde India bags new order
Shares of Linde India surged as much as 4% intraday after securing its second order in a week. The latest order comes from Steel Authority of India (SAIL) for installation of a cryogenic oxygen plant with a capacity of 1,000 tonnes per day. This new plant will be set up in SAIL’s Rourkela plant on a construct, operate and maintain (COM) basis for a period of 20 years.
Man Infra soars on new order win
Man Infra’s shares are trading 6% higher after the company bagged a redevelopment project in Mumbai. As per the company, this new project is expected to generate revenue of ₹4,000 crore with a total saleable carpet area of 17 lakh square feet.