Although the benchmark indices opened higher, they traded steadily throughout the session and ultimately closed green.

Snapping a four-day losing streak, benchmark indices, Sensex and Nifty, settled in green on Thursday, aided by buying in IT stocks as the Indian Rupee hit a record low of 90.56 against the US dollar. However, the gains were limited as investors remained cautious ahead ofthe  RBI MPC decision on Friday.

At the closing bell, the BSE Sensex closed higher by 158 points (up 0.2%).

Meanwhile, the NSE Nifty closed 47 points higher (up 0.2%).

TCS, Tech Mahindra, and Infosys are among the top gainers today.

Maruti Suzuki, Eternal, and Kotak Mahindra, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  26,336, 51 points lower at the time of writing.

The BSE MidCap index ended 0.2% lower, and the BSE SmallCap index ended 0.3% lower.

Sectoral indices are trading mixed today, with stocks in the metal sector and the auto sector witnessing buying. Meanwhile, stocks in power and real estate witnessed selling pressure.

The rupee is trading at Rs 89.9 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 129,890 per grams.

Meanwhile, silver prices were trading 1.5% lower at Rs 179,508 per 1 kg.
 

Best Agrolife stock split bonus surge

In the news from agrochemical sector, shares of Best Agrolife came into focus after the company announced a stock split and a bonus issue.

The company has approved a stock split, in which each equity share with a face value of Rs 10 will be divided into 10 equity shares with a face value of Rs 1 each. This applies to all shareholders as on the record date.

Additionally, the board has approved a bonus issue in a ratio of 7:2, meaning shareholders will receive one bonus share of Rs 1 for every two shares they hold on to the record date.

A stock split is a corporate action where a company increases the number of its outstanding shares by dividing existing shares into multiple units. Although the number of shares rises, the company's total market value remains unchanged, resulting in a proportionate reduction in the price per share.

The record date is the specific day set by a company to identify which shareholders are eligible to receive benefits or take part in corporate actions.

Founded in 1992, Best Agrolife Ltd. is a leading agrochemical company serving both domestic and global markets. With a strong research-driven approach, the company focuses on delivering high-quality, innovative, and effective crop protection and food safety solutions to farmers worldwide.
 

Adaniconnex Launches New Data Center Subsidiary

Shares of Adani Enterprises rose after the company announced that its joint venture, AdaniConneX, has created a new fully owned subsidiary to build and operate data centers.

Adani Enterprises informed the stock exchanges that AdaniConneX Private Limited has set up a new company called AdaniConneX Hyderabad Three Limited with a capital of Rs 1,00,000, divided into 10,000 shares of Rs 10 each. This new company will focus on the construction, development, and operation of data centers.

Through AdaniConneX (ACX), Adani Enterprises indirectly owns 50% of the new subsidiary.

The company also announced that Adani Airport Holdings Limited (AAHL), its wholly owned subsidiary, has sold 25% of its stake in World Plate Collective Cuisines Limited (WPCCL) to AJ Holding Limited. After this sale, AAHL will hold 75%, and AJ Holding will hold 25% of WPCCL.
 

Petronet LNG Gains on ONGC Contract

Moving on to the news from oil & gas sector, shares of Petronet LNG came into focus after the company entered a 15-years ethane unloading, storage and handling (USH) services binding term sheet with Oil and Natural Gas Corporation (ONGC).

Petronet LNG is developing ethane unloading, storage, and handling facilities at Dahej, Gujarat, with a storage capacity of 1,70,000 cubic meters. The company is also building a new third jetty at Dahej, capable of handling ethane, propane, and LNG, which will be the first of its kind in India and available for third-party imports.

Under a 15-year agreement with ONGC, Petronet LNG is expected to earn about Rs 50 bn in gross revenue, starting from FY 2028-29. The third jetty will support the growth of downstream industries, such as the petrochemical sector, by providing world-class import infrastructure for ethane and propane alongside its existing LNG facilities.

As part of the plan, ONGC will import ethane via Very Large Ethane Carriers (VLECs) of around 100,000 CBM capacity on long-term, short-term, and spot contracts. This ensures reliable ethane supply for ONGC Petro Additions Limited (OPaL), which operates one of India's largest petrochemical complexes at Dahej, including a world-scale ethylene cracker that uses ethane as its main feedstock.

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