Although the benchmark indices opened higher, they traded positively throughout the session and ultimately closed green.
Indian equity benchmark indices, Sensex and Nifty50, settled on a mixed note as global equities retreated after bond yields rebounded and as oil prices continued to surge amid simmering tension between the US and Iran.
At the closing bell, the BSE Sensex closed 3 points higher
Meanwhile, the NSE Nifty closed 20 points higher
ITC, Eternal, Kotak Mahindra are the top gainers today.
Tata Steel, HCL Tech, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,286, 11 points lower at the time of writing.
The BSE 150 Midcap index is trading 0.5% higher, and the BSE 250 SmallCap index is trading 0.4% higher.
The rupee is trading at Rs 95.7 against the US$.
Gold prices for the latest contract on MCX are trading 1.2% higher at Rs 1,61,390 per 10 grams.
Meanwhile, silver prices were trading 1.2% higher at 2,46,361 per 1 kg.
Tube Investments Stake Boosts Shanthi Gears Shares
According to an exchange filing, Tube Investments of India has acquired 20,64,713 equity shares of Shanthi Gears for around Rs 0.775 billion, representing a 2.69% stake in the company. The acquisition was completed through a block deal on the stock exchange.
Following the transaction, Tube Investments' shareholding in Shanthi Gears has increased from 70.46% to 73.16%.
Shanthi Gears, part of the Murugappa Group, is engaged in the design and manufacturing of gears, gearboxes, geared motors and gear assemblies. It also provides gearbox refurbishment and repair services.
Welspun Corp Secures Major US Order
Shares of Welspun Corp came into focus after the company secured its largest-ever single order worth around $1.8 billion (Rs 172 billion) for the supply of pipes from its US manufacturing facility.
The company informed the stock exchanges on Thursday, August 20, after market hours, about the major order. The project is scheduled to be executed between FY28 and FY29.
Following the deal, Welspun Corp's global order book has reached a record $4.4 billion (Rs 421 billion). The sizeable order is expected to strengthen the company's revenue visibility over the coming years and support its growth outlook.
Welspun Corp said the order highlights the scale, quality and execution capabilities of its operations, while also reflecting growing confidence among global energy companies in the company's ability to deliver large and complex pipe infrastructure projects.
WCL is one of the largest manufacturers of large diameter pipes globally.
The company also manufactures BIS-certified Steel Billets, TMT (Thermo-Mechanically Treated)Rebars, Ductile Iron (DI) Pipes, Stainless Steel Pipes, and Tubes & Bars. The company acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand its building materials portfolio. It has also made strategic acquisition of specified assets of ABG Shipyard.
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