After opening the day on a positive note, the Indian benchmark remained positive as the session progressed and ended the day higher.

Indian benchmark indices trade positively following a higher opening on Thursday, with the Nifty 50 extending its winning streak to a seventh session after U.S. President Donald Trump said he planned to speak with Prime Minister Narendra Modi to ease trade frictions.

At the closing bell, the BSE Sensex closed higher by 123 points (up 0.1%).

Meanwhile, the NSE Nifty closed 32 points higher (up 0.1%).

Shriram Finance, Adani Enterprises, and NPC are among the top gainers today.

Infosys, Wipro, and Bajaj Auto, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,10,8 up by 35 points at the time of writing.

The BSE MidCap index and BSE SmallCap index ended 0.1% lower.

Sectoral indices were trading mixed, with stocks in the oil & gas sector and the power sector witnessing buying. Meanwhile, the stocks in the auto sector and the IT sector are witnessing selling pressure.

The rupee is trading at 88.44 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 108,732 per 10 grams.

Meanwhile, silver prices were trading flat at Rs 125,180 per 1 kg.
 

PSU Bank Stocks Soar for 2nd Day

In news from the banking sector, shares of several public sector banks (PSBs) rose on September 11, lifting the Nifty PSU Bank index into the green during afternoon trade. The index climbed nearly 1 percent to 7,089, marking its second straight session of gains as reports of fresh consolidation talks boosted investor sentiment.

According to a September 10 media report, the government is expected to revisit consolidation plans for state-run lenders with the goal of creating larger, globally competitive banks. The matter will be taken up at the upcoming PSB Manthan, scheduled to begin tomorrow.

The last major restructuring in 2019-2020 reduced the number of state-run banks from 27 to 12. Media reports suggest the fresh round could lead to the formation of three to four very large lenders.

The two-day summit will also see PSBs engage with key infrastructure financing entities, including the National Bank for Financing Infrastructure and Development (NaBFID) and India Infrastructure Finance Company (IIFCL).
 

Why ACME Solar Share Price is Rising

Moving on to news from the solar sector, ACME Solar Holdings Ltd.'s arm, ACME Venus Urja Pvt. Ltd., has secured Rs 3,892 crore in project funding from State Bank of India. The funds will be used to develop a 400 MW firm and dispatchable renewable energy (FDRE) project in Barmer, Rajasthan, the company said in a release on September 11.

The financing marks ACME's largest loan from SBI and also the bank's first support for the company's FDRE projects. The loan is structured over a 19-year repayment period. The project, contracted with NHPC Ltd. at a tariff of Rs 4.64 per unit, will combine solar power with battery energy storage systems to ensure higher reliability and meet supply commitments.

ACME Solar, a leading renewable energy player, operates a diversified portfolio spanning solar, wind, storage, FDRE, and hybrid solutions, with an installed capacity of 2,890 MW.

A CME Solar is one of India's largest renewable IPPs, operating across solar, hybrid, wind, and battery-based firm and dispatchable renewable energy (FDRE).

What sets ACME apart is its strong in-house EPC and O&M capabilities, large central government-linked PPA book and early bets on battery energy storage systems (BESS).
 

Why Aurobindo Pharma Share Price is Rising

Moving on to news from the pharma sector, Aurobindo Pharma shares gained 4.5% on September 11 after the Financial Times reported that private equity firm GTCR has sealed a €4.1 billion ($4.8 billion) deal to acquire Czech generic drugmaker Zentiva from Advent International.

The deal has been finalised and is likely to be announced within days, the report said. Boston-based Advent had earlier acquired Zentiva from French pharma major Sanofi in 2018 for €1.9 billion.

Zentiva, whose history dates back to the 15th century, manufactures a wide range of generic and over-the-counter medicines. It operates in more than 30 countries, employs over 5,000 people, and runs manufacturing facilities in the Czech Republic, Romania, and India.

The company was nationalised in 1946, before its management took majority control in 1998, shifting focus toward branded generics.

Aurobindo Pharma has built a strong presence across more than 150 countries, manufacturing generic formulations, APIs, and injectables.

It's the largest generic drug company in the US and ranks among the top 10 generic players in eight European countries. About half of Aurobindo's revenue comes from the US.

More By This Author:

Sensex Today Trades Higher; Nifty Above 25,000
Sensex Today Ends 323 Points Higher; Nifty Above 24,950
Nifty Above 24,900; Welspun Living Up 8%