After opening the day on a negative note, Indian share markets reversed the trend as the session progressed and ended higher.

After a day's hiatus, benchmark indices were back in the positive zone as better-than-expected retail inflation data for August boosted sentiment.

At the closing bell, the BSE Sensex stood higher by 246 points (up 0.4%).

Meanwhile, the NSE Nifty closed 76.8 points higher (up 0.4%).

Grasim, Coal Indi, and Titan were among the top gainers today.

L&T, M&M, and Jio Financial on the other hand, were among the top losers today.

The GIFT Nifty was trading at 20,136, up by 63 points, at the time of writing.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.2% higher and the BSE Small Cap index is trading higher by 0.9%.

Sectoral indices ended on a mixed, with stocks in the banking sector, energy sector, and metal sector witnessing buying. Meanwhile, stocks in the capital goods sector and IT sector witnessed selling pressure.

Shares of P&G Hygiene and Titan hit their 52-week high today.

The rupee is trading at Rs 82.96 against the US dollar.

The Asian markets traded mixed, while the US stock market ended lower overnight dragging weakness in tech stocks. The Hang Seng index ended flat, while the Shanghai Composite ended 0.2% lower.

In commodity markets, gold prices are trading marginally lower at Rs 58,608 per 10 grams today.

Meanwhile, silver prices are trading 0.6% lower at Rs 71,520 per 1 kg.
 

GMR Power's New Order Win

In news from the engineering sector, shares of GMR Power and Urban Infra were locked in the 10% upper circuit.

This rse comes after the GMR Group received a Letter of Intent (LOA) for a smart metering project worth of Rs 24.7 bn from Dakshinanchal Vidyut Vitran Nigam.

A combined 15.67 million equity shares changed hands and there were pending buy orders for 1.5 million shares on the NSE and BSE.

GMR Power said its subsidiary GMR Smart Electricity Distribution Private Limited (GSEDPL) has received an LOA from Dakshinanchal Vidyut Vitran Nigam Limited to implement the smart metering project in the Dakshinanchal (Agra, and Aligarh zone) area of Uttar Pradesh.

The company will install, integrate, and maintain 2.6 million smart meters in the given areas. The implementation tenure is expected to be 27 months from the date of execution of the contract and an operating period of 93 months. The total contract value (inclusive of GST) for the Agra & Aligarh Zone is about Rs 24.7 bn.

The project will be spanned over 10 years.

Earlier on 3 September, GMR Group received a Letter of Award (LOA) worth Rs 51.2 bn for the smart metering project from Purvanchal Vidyut Vitran Nigam.

After a long time, the smart metering industry is witnessing renewed interest from foreign investors. And most stocks have already shot up in recent months. GMR Power is one of them.

Why KEC International Share Price Is Rising

Moving on, KEC International's share price jumped more than 11% on Wednesday to hit a 52-week high after the infrastructure company secured new orders worth Rs 10.1 bn across its various businesses.

KEC International said its civil business has secured orders from new clients in the Data center and FMCG segments in India.

The order is for building a data center in Western India and setting up of a manufacturing facility for a global FMCG major in Southern India.

The Transmission & Distribution (T&D) business of the company secured orders for 765 kV transmission line orders in India from an existing private client and supply of towers, hardware, and poles in America.

Additionally, the company's cable business has secured orders for the supply of various types of cables in India and overseas.

India is home to many prominent engineering companies that cater to a wide range of sectors. From infrastructure to automobiles, these companies are known for their innovative solutions and quality services.
 

Zydus Injectables Gets Nod

Moving on to news from the pharma sector, Zydus Lifesciences has received the EIR report from the USFDA for the inspection conducted at the injectables manufacturing facility at Zydus Biotech Park located at Changodar.

The inspection was a cGMP Inspection and had ended with NIL observations.

The group now has 377 approvals and has so far filed over 444 (as of 31st June 2023) ANDAs since the commencement of the filing process in FY 2003-04.

In 2023 between 1 January 2023 and 10 March 2023, the stock has gained 13%, making it among the top-performing large-scale stock of 2023 so far.

More By This Author: