Today’s top morning headlines - 9th January 2024

Good afternoon

Markets are trading in the green, with the NIFTY50 trading above 21,700 as of 12:45 pm. Here are the top stories for the day!

Top gainer: Hero MotoCorp: 4,139 ▲ 130 (+3.2%)
Top loser: Nestle India: 2,599 ▼ 19 (-0.7%)

:star: L&T rises on large order win
The company’s building and factories business bags an order in the range of 1,000 to 2,500 crore from HITES (A Mini Ratna PSU) under the Ministry of Health and Family Welfare. The Health Business Unit of the HRC SBG has secured an order to construct a new AIIMS at Rewari (Haryana) on a Design, Engineering, Procurement and Construction (EPC) basis in Q3 FY24. Meanwhile, shares of engineering-to-construction are up 1.6%.

:star: Zee plunges on merger call off reports
Shares of the media company are down more than 8%. This comes after the reports claimed that Japan-based Sony Group is planning to call off its Indian units merger with Zee Entertainment. The $10 billion deal could be reportedly called off over a standoff on whether Zee CEO Punit Goenka should lead the merged entity.

:star: Jyoti CNC IPO gets strong response
Jyoti CNC Automation IPO received a strong response from investors, with the retail portion getting 3.94 times subscribed till 12:00 pm. Meanwhile, the overall IPO subscription was 94%.

:star: Gensol Engineering rises on EV investment
Gensol Engineering shares rose 4.7% intraday after the company announced it was entering into a partnership with the Gujarat government to invest ₹2,000 crore in an electric vehicle (EV) manufacturing project.