Although the benchmark indices opened lower, they traded negative throughout the session and ultimately closed red.
Indian equity benchmark indices, Sensex and Nifty50, extended losses on Tuesday as Eicher Motors, Infosys, and Tata Consumer Products led losses. Traders also await the talks between the US and Iran, scheduled in Doha, later today.
At the closing bell, the BSE Sensex closed 250 points lower (down 0.3%)
Meanwhile, the NSE Nifty closed 80 points lower (down 0.3%)
Maruti Suzuki, Titan Company, and Bajaj Finance were the top gainers today.
TCS, Infosys, and HCL Tech, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 23,868, 86 points lower at the time of writing.
The BSE 150 Midcap index is trading 0.4% higher, and the BSE 250 SmallCap index is trading 0.5% higher.
Sectoral indices were trading mixed today with IT sector and banking sector witnessed selling pressure. Meanwhile, stocks in realty sector and service sector witnessed buying.
The rupee is trading at Rs 94.6 against the US$.
Gold prices for the latest contract on MCX are trading 0.03% higher at Rs 1,42,451 per 10 grams.
Meanwhile, silver prices were trading 1.7% higher at 2,26,405 per 1 kg.
SJVN Signs Long Term Power Agreement
SJVN has signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL) for supplying green power from its upcoming hydroelectric projects in Himachal Pradesh.
These include the 66 MW Dhaulasidh, 210 MW Luhri Stage-I, and 382 MW Sunni Dam hydroelectric projects.
The agreements were signed in Vadodara, Gujarat, in the presence of senior officials from both SJVN and GUVNL.
According to the company, these long-term agreements will help supply clean energy to Gujarat and support India's shift towards greener and more sustainable power sources.
Sterling Wilson Secures Egypt Solar Contract
Sterling and Wilson Renewable Energy Limited (SWREL) has announced that it has won a solar power project worth about $560 million in Egypt's Minya Governorate.
The project will have a total capacity of 1,000 MW solar power along with a 600 MWh battery energy storage system. Once completed, it will be one of the largest renewable energy projects in the country.
The company has secured this contract in partnership with Hassan Allam Construction, a major contractor in Egypt and the MENA region.
The joint venture will handle the full project work, including setting up solar panels, battery storage systems, grid connection, transmission lines, and other required infrastructure. The company said it is focused on completing the project on time while maintaining high standards of safety and quality.
Jagsonpal Pharma Acquires Aequitas Healthcare Stake
Shares of Jagsonpal Pharma came into focus after the company announced that it had entered into a definitive agreement to acquire an 85% equity stake in Aequitas Healthcare, a Mumbai-based pharmaceutical company primarily focused on the sale and distribution of pharmaceutical products to hospitals.
The deal will be funded through the company's internal funds. The existing directors of Aequitas will continue to hold a 15% stake and remain involved in the business.
According to the company, this move marks its entry into the hospital segment, which is a growing part of the pharmaceutical industry. The hospital segment currently accounts for around 10% of total pharma sales and is expanding faster than other areas.
The company said this acquisition will help it build a stronger presence in the institutional healthcare market and expand its business in the growing healthcare sector.
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