Although the benchmark indices opened lower, they traded negative throughout the session and ultimately closed in the red.
Indian equity benchmark indices, Sensex and Nifty50, declined on Tuesday as elevated crude oil prices and rising tensions in West Asia weighed heavily on investors' sentiment.
At the closing bell, the BSE Sensex closed 493 points lower (down 0.6%)
Meanwhile, the NSE Nifty closed 132 points lower (down 0.5%)
Axis Bank, M&M, Bajaj Finance are the top gainers today.
Infosys, Asian Paints, and HCL Tech, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,199, 20 points higher at the time of writing.
The BSE 150 Midcap index is trading 0.3% lower, and the BSE 250 SmallCap index is trading 0.19% higher.
Sectoral indices were trading mixed today, with the IT sector and the telecommunication sector witnessed selling pressure. Meanwhile, stocks in the metal and realty sectors witnessed buying.
The rupee is trading at Rs 95.6 against the US$.
Gold prices for the latest contract on MCX are trading 0.5% higher at Rs 1,55,283 per 10 grams.
Meanwhile, silver prices were trading 0.7% higher at 2,37,669 per 1 kg.
Tata Group Invests in Elveo Stake
Tata Group-backed satellite communications company Nelco has invested $20 million (around Rs 1.91 billion) in US-based Lunar Holdco Inc, taking a minority but strategic stake in the company.
Lunar Holdco provides direct-to-device (D2D) satellite connectivity through its Elveo Mobile brand. Under the agreement, Nelco will invest through compulsorily convertible debentures (CCDs), which offer a 7% annual compounded return and can later be converted into equity shares under certain conditions.
Satellite services company SES will remain the majority shareholder in Lunar Holdco.
Nelco plans to bring Elveo's satellite connectivity solutions to businesses in India and South Asia. The services will target sectors such as automotive, telecom, maritime, energy, government and infrastructure.
The technology will allow businesses to stay connected even in areas with limited or no traditional network coverage. Potential uses include vehicle tracking, fleet management, infrastructure monitoring, remote operations, disaster response and business continuity.
In simple terms, Nelco is partnering with Elveo to bring satellite-based connectivity directly to businesses and devices, helping improve communication in remote and difficult-to-reach areas.
Swiggy Sets Ambitious FY31 Growth Targets
Swiggy has shared its FY31 growth plan, aiming to become a much larger and more profitable business over the next five years. The company is targeting Adjusted EBITDA of around Rs 100 billion by FY31 and plans to more than triple its consolidated Gross Order Value (GOV) to around Rs 2.5 trillion, from Rs 677.34 billion in FY26.
Swiggy expects its three key businesses , Food Delivery, Instamart and Dineout to drive this growth.
Food Delivery: Swiggy expects its food delivery GOV to grow by around 2.5 to 3.5 times by FY31 and aims for about Rs 50 billion in Adjusted EBITDA. The company plans to attract more customers by improving affordability and increasing how frequently people order food.
Dineout: Swiggy's dining-out business has already become profitable. Dineout reported Rs 46 billion in GOV in FY26, up 51% year-on-year. Swiggy expects GOV to grow to Rs 200-250 billion by FY31, while Adjusted EBITDA is targeted to increase from Rs 300 million to Rs 10 billion.
Instamart: Swiggy's quick-commerce business continues to expand. Instamart recorded Rs 79.07 billion in GOV in Q1 FY27, up 40% year-on-year. The company has also improved its margins and is getting closer to profitability.
Swiggy is targeting GOV of more than Rs 1.5 trillion for Instamart by FY31, compared with Rs 280 billion in FY26. It plans to achieve this by increasing its monthly transacting user base to more than 40 million and expanding its dark-store network.
The company is also using artificial intelligence (AI) across its businesses to improve customer recommendations, delivery operations, partner management and internal decision-making.
Overall, Swiggy's FY31 plan focuses on stronger growth, better profitability and greater use of technology, with Food Delivery, Instamart and Dineout expected to be the main drivers.
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