Indian equity benchmarks indices, Sensex and Nifty50 erased losses to settle higher, tracking gains in healthcare, pharma, and PSU Bank stocks.
At the closing bell, the BSE Sensex closed 287 points higher (up 0.3%)
Meanwhile, the NSE Nifty closed 115 points higher (up 0.4%)
Trent, Titan Company, and SBI are the top gainers today.
Eternal, HCL Tech, and Power Grid Corp, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,336, 125 points higher at the time of writing.
The BSE 150 Midcap index is trading 0.3% higher, and the BSE 250 SmallCap index is trading 0.1% lower.
Baring the insurance sector and the private banks sector all other sectoral indices were trading positively today, with the telecommunication sector and services sector witnessing buying.
The rupee is trading at Rs 95.7 against the US$.
Gold prices for the latest contract on MCX are trading 0.1% lower at Rs 1,62,970 per 10 grams.
Meanwhile, silver prices were trading 0.6% lower at 2,42,717 per 1 kg.
Ceigall India Wins Major Road Project
Ceigall India Ltd.'s shares came into focus on Tuesday after the company received a Letter of Acceptance (LoA) from the Ministry of Road Transport and Highways (MoRTH) for a road project worth Rs 7.047 billion in Arunachal Pradesh.
The project involves the construction of a section of the Lada-Sarli stretch of NH-913 (Frontier Highway). The project will be executed jointly with Sushee Infra & Mining Ltd., with Ceigall India holding a 74% share and its partner holding the remaining 26%.
The road will be constructed from km 85.60 to km 168.00 and will be developed under the Engineering, Procurement and Construction (EPC) model. The project has a 48-month construction period, followed by five years of maintenance.
The new order is positive for the company as it adds to its project pipeline and strengthens its presence in the infrastructure and highway construction sector.
Ceigall India is an EPC company involved in projects such as highways, expressways, bridges, flyovers, railway overbridges, tunnels and runways.
HoABL and Nitco Join Hands for Alibaug Project
The House of Abhinandan Lodha (HoABL) has partnered with Nitco and its subsidiary Nitco Realties to develop land parcels in Thal and Lonare, Alibaug, in a project expected to generate combined revenue of around Rs 45 billion.
Under the proposed development, HoABL expects to generate around Rs 30 billion in revenue over five years, while Nitco is expected to generate around Rs 15 billion. HoABL plans to invest approximately Rs 10 billion, mainly towards construction.
The project will be spread across 40 acres and will include premium apartments and townhouses. A boutique luxury hotel is also planned as part of the development. This will be HoABL's second project in Alibaug, after its Sol-de-Alibaug development.
The project is expected to be developed in phases, with more details on the project timeline, configuration and hospitality partner to be announced later. The deal is subject to necessary approvals and the signing of final agreements.
The partnership comes at a time when Alibaug is becoming a popular luxury real estate and second-home destination, supported by improving connectivity and growing interest from developers and investors.
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