After opening the day higher, the benchmark indices continued their downward momentum and ended the session in the red.

Indian equity markets indices, Senex and Nifty, closed higher on Wednesday, supported by gains in metal and pharma stocks.

At the closing bell, the BSE Sensex closed higher by 410 points (up 0.5%).

Meanwhile, the NSE Nifty closed 134 points higher (up 0.5%).

Titan Company, M&M, and Tata Steel are among the top gainers today.

Infosys, HUL, and NTPC, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,819, higher by 153 points at the time of writing.

The BSE MidCap index ended 0.6% higher, and the BSE SmallCap index ended 0.9% higher.

Sectoral indices are trading mixed today, with stocks in the metal sector and the healthcare sector witnessing buying. Meanwhile, stocks inthe  media sector and the IT sector witnessed selling pressure.

The rupee is trading at Rs 88.0 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 106,121 per 10 grams.

Meanwhile, silver prices were trading 0.2% higher at Rs 122,850 per 1 kg.
 

ACME Solar Secures Contract from Tata Power

In the news from the power sector, ACME Solar Holdings Ltd. has achieved a major victory by securing a 50 MW Firm and Dispatchable Renewable Energy (FDRE) project from the distribution arm of Tata Power Company Limited.

The contract was part of a larger 250 MW tender that Tata Power-D floated, and it was awarded at a tariff of Rs 4.43 per unit.

ACME Solar won the project through a competitive bidding process, including an e-reverse auction. The company must maintain a minimum 40% annual capacity utilization and ensure 90% monthly availability for four hours of peak power supply.

To satisfy the strict supply requirements over a 25-year power purchase agreement, the renewable energy project will combine solar power generation with Battery Energy Storage System (BESS) technology. After the PPA is signed, ACME Solar has 24 months to commission the facility.

ACME Solar Holdings is a leading renewable energy company with 2,890 MW of operational capacity, focusing on solar, wind, storage, and hybrid solutions. They handle everything in-house, from project development to operations, ensuring efficient and sustainable energy production.
 

Arkade Developers Acquires Textile Firm

Moving on to the news from realty sector, shares if Arkade Developers surged 2% after the company announced that it has entered a Memorandum of Understanding (MoU) to acquire shareholding in Woollen and Textile Industries.

A 14,363.60 square metre land parcel in Bhandup (West) is part of the acquisition. The deal's total consideration is Rs 1.4 billion (bn).

Arkade Developers' CMD, said the company's acquisition of Woollen and Textile Industries aligns with its vision of creating valuable developments in strategic locations.

The company aims to utilize the land parcel's potential, contributing to urban transformation while leveraging its reputation for trust, timely delivery, and quality construction.
 

PNC Infratech Wins Varanasi Airport Deal

Moving on to the news from the infrastructure sector, PNC Infratech Limited, an infrastructure company, declared that it had won the lowest bid (L1) for a project put out by the Airports Authority of India (AAI) for the construction of Lal Bahadur Shastri International Airport in Varanasi.

The project, which is worth Rs 2.9 bn, includes strengthening the current runway, re-carpeting it, and other related tasks.

The company claims that the project must be completed in 18 months.

PNC Infratech Ltd announced in July of this year that it had won the mining services contract put out by South Eastern Coalfields Limited (SECL), Bilaspur, Chhattisgarh, as the L1 (first lowest) bidder.

The project entails loading and transporting extracted coal to different locations at the Gevra OCP expansion project in Chhattisgarh, as well as handling, transport, and other mining services, such as hiring HEMM for overburden removal and coal extraction by surface miners.

The total value of the contract stands at Rs 29.6 bn.
 

IndiaAI Mission Boosts E2E Networks Shares

Moving on to the news from IT sector, shares of E2E Networks gained 10% after the company secured an order worthy Rs 1.7 bn from the Ministry of Electronics and Information Technology (MeitY) under the IndiaAI Mission.

To build India's foundational AI model, the company said it has received a formal letter from the ministry requesting the immediate allocation of H100 SXM and H200 SXM GPU resources to GNANI AI.

An InfiniBand (IB) network will be used to deploy the GPUs on a single fabric.

According to the company, the deal is a significant step in assisting the government's drive to develop AI capabilities and further solidifies its position in India's national AI infrastructure ecosystem.

More By This Author:

Nifty Above 24,550; TBO Tek Rallies 12%
Sensex Today Ends 206 Points Lower; Nifty Below 24,600
Nifty Above 24,700; Sensex Today Trades Higher