Markets are trading in the red as of 12:30 pm, with the NIFTY50 trading around the 19,550 level. Here are the top stories of the hour. Let us know what you think in the comments below!
Top gainer: Divi’s Lab: 3,692 ▲ 50 (+1.3%)
Top loser: Tata Steel: 128 ▼ 2.8 (-2.1%)
Jio Financial to be excluded from NIFTY50
Jio Financial Services (JFS) is trading 2% lower as its shares will be executed from NIFTY50 index from 7 September. As per the NSE, JFS shares have not hit the price band (upper or lower circuit) during the last two trading days, making the stock eligible for exclusion from the index.
Power Grid secures new project
Power Grid Corporation shares rose more than 1% after securing a new project. As part of the project, the company will establish a 20GW inter-state transmission system in Rajasthan on build, own, operate and transfer (BOOT) basis.
NBCC hits 52-week high on order win
Shares of the construction company rose 6.7% intraday, touching a new 52-week high. This comes after the company signed a contract with the Kerala State Housing Board to develop a 17.9 acres land parcel. The project value is ₹2,000 crore.
Snowman Logistics gains as promoter raises stake
Shares of Snowman Logistics jumped over 3% to a 52-week high of ₹57.8 after the company’s promoter Gateway Distriparks acquired additional stake from the open market. It has purchased 5.5 lakh shares, taking its total stake in Snowman Logistics to 43%.