Top gainer: Shriram Finance 3,056 ▲ 109 (+3.70%)
Top loser: Adani Enterprises 2,173 ▼ 83 (-3.70%)
Telecom stocks witnessed a rally
Telecom stocks witnessed a stellar rally amid news reports that the Union Cabinet has approved the waiving of bank guarantees for telecom operators on spectrum purchased before 2022. The move has come as a relief to Vodafone Idea (Vi), which owes the government over ₹24,700 crore on bank guarantees (BG). Among individual names, shares of Vi jumped as much as 18.79% to ₹8.28 apiece on the NSE. Tata Teleservices Maharashtra (TTML) was trading nearly 12% higher at ₹77.18 apiece on the BSE. Mahanagar Telephone Nigam Limited (MTNL) stock was trading around 5% higher at ₹49.60.
Hitachi Energy India shares rallied as much as 9.83% to ₹12,812 apiece
Shares of Hitachi Energy India rallied as much as 9.83% to ₹12,812 apiece on the BSE, while those of BHEL rose up to 2.5% to ₹247.50 per unit. The stocks rallied as state-owned engineering firm Bharat Heavy Electricals Ltd. (BHEL) on Monday said it has, along with Hitachi Energy India, secured an order for the Khavda Nagpur HVDC (high voltage direct current transmission) project from Power Grid Corporation. The order was awarded by Power Grid Corporation of India on behalf of its Project SPV (special purpose vehicle) company.
Triveni Turbine shares were trading nearly 14% higher at ₹869.85 apiece
Shares of the company were trading nearly 14% higher at ₹869.85 apiece on the BSE. For the quarter ended September 2024, the company reported a 42% on-year rise in consolidated profit after tax to ₹91 crore, pushed by higher income. It posted a profit after tax (PAT) of ₹64 crore in the July-September quarter of the preceding 2023-24 financial year, the company said in a regulatory filing.