Nifty Below 24,200; HCL Tech & Tech Mahindra Top Gainers

Asian markets are trading broadly lower this morning as investors position cautiously ahead of Nvidia's earnings and continue to weigh rising tensions in the Middle East following fresh US sanctions on Iran.

US equities closed lower on Monday as chip stocks came under renewed pressure ahead of a pivotal week featuring Nvidia's earnings and the Fed's Jackson Hole symposium.

Here's a table showing how US stocks performed on Monday:

Source: Equitymaster

At present, the BSE Sensex is trading 5 points lower, and the NSE Nifty is trading 31 points lower.

Trent, Eternal, Axis Bank among the top gainers today.

HCL Tech, Tech Mahindra, NTPC, on the other hand, are among the top losers today.

The BSE 150 Midcap index is trading 0.01% higher, and the BSE 250 SmallCap index is trading 0.01% lower.

The rupee is trading at Rs 95.7 against the US dollar.

TCS Strengthens Europe Push Through Porsche

Tata Consultancy Services (TCS) has announced a major five-year deal with German carmaker Porsche worth €1.25 billion (around Rs 140 billion).

As part of the deal, TCS will buy Porsche's IT and consulting subsidiary, MHP, for €320 million (about Rs 35.74 billion). The acquisition is expected to be completed in three to four months.

MHP has more than 4,500 employees and over 300 clients, mainly in Germany and Romania. The acquisition will strengthen TCS' consulting business in Germany and across Europe, while giving it greater access to the automotive sector.

TCS will also create a dedicated AI mobility centre for Porsche. The companies will work together on AI, smart manufacturing, software-driven vehicles, customer experience and other new automotive technologies.

This is TCS' third acquisition in less than a year and its first carve-out deal since 2008. The deal will also increase TCS' presence in Europe at a time when technology spending in the US is recovering slowly.

The move reflects the growing focus of Indian IT companies on Europe. Other major firms, including Persistent Systems and Infosys, have also expanded their presence in Germany through acquisitions.

Aegis Logistics Transfers Ammonia Terminal

Aegis Logistics has transferred its specialised ammonia storage terminal at Pipavav Port to its step-down subsidiary, Aegis Terminal (Pipavav) Limited (ATPL), for a cash consideration of Rs 5.25 billion. The terminal was commissioned on August 10, 2026, and therefore its turnover and net worth contribution as of March 31, 2026, was not applicable.

The agreement for the sale was entered into on 24 Augustthe26, with the transaction expected to be completed on the same day.

The transaction is a related-party deal and has been carried out on an arm's-length basis. There will be no change in Aegis Logistics' shareholding pattern as a result of the transaction.

The transfer is aimed at consolidating the Group's terminalling operations under ATPL and creating operational synergies.

The ammonia terminal will strengthen Aegis Logistics' position in specialised chemicals and gas logistics and support growing demand from the fertiliser, industrial and emerging clean-energy sectors.

The company expects the move to create a new growth platform by leveraging its expertise in sourcing, logistics and distribution while expanding its presence in the strategically important ammonia segment.