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

Indian stock markets settled flat on Monday, December 1, after hitting record highs in the morning deals. The rupee slipped to a new record low amid soft foreign inflows and lingering uncertainty over major trade talks, which dampened investor sentiment.

At the closing bell, the BSE Sensex closed lower by 64 points (down 0.1%).

Meanwhile, the NSE Nifty closed 27 points lower (down 0.1%).

Bharat Elec, Adani Ports, and Tech Mahindra are among the top gainers today.

Bajaj Finance, Sun Pharma, and Trent, on the other hand, were among the top losers today.

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

The BSE MidCap index ended 0.2% lower, and the BSE SmallCap index ended 0.1% higher.

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 88.7 against the US$.

Gold prices for the latest contract on MCX are trading 0.8% higher at Rs 127,919 per gram.

Meanwhile, silver prices were trading 1.3% higher at Rs 173,984 per 1 kg.
 

Power Grid Approval Boosts Dynamic Cables

In the news from the cables sector, Dynamic Cables shares moved higher after the company received approval from Power Grid Corporation of India Limited to manufacture and supply ACSR and AL59 conductors (up to 61 strands) for its production facility.

The company stated that this approval strengthens its eligibility to participate in upcoming Power Grid projects and could open additional business development opportunities.

Dynamic Cables Ltd. produces a broad range of power-infrastructure cables, including LV, MV, and HV power cables, as well as control, instrumentation, and signaling cables. Its customer base spans government discoms, private distribution companies, EPC contractors, industrial clients, and export markets.The company operates three manufacturing units in Jaipur and Reengus, supported by a corporate office in Jaipur and five regional sales offices across India.
 

Tejas Networks Gains on PLI Payout

Moving on to the news from telecom sector, Tejas Networks' shares rose 5.8%.

The uptick followed the company's announcement that it received Rs 0.8 bn from the Ministry of Communications, Department of Telecommunications, under the Production-Linked Incentive (PLI) scheme for telecom and networking products.

This amount represents the first tranche, 85% of the eligible incentive for Q4 of FY 2024-25, with the remaining payout to be released later as per PLI Scheme Guidelines.

Tejas Networks, part of the Tata Group, is a leading Indian telecom and networking solutions provider, specializing in the design, development, and manufacturing of advanced wireless (4G/5G) and wireline optical transmission and switching products.
 

Sterling Wilson Surges on Adani Green Deal

Moving on to the news from power sector, Sterling & Wilson Renewable Energy shares advanced after the company announced a 5-year strategic partnership with Adani Green Energy, India's largest and fastest-growing renewable energy developer, along with securing its first purchase order under this agreement.

The order, valued at approximately Rs 13.8 billion (bn), involves a Balance of System (BOS) package for three solar projects at the Khavda Renewable Energy Park in Gujarat, one of the largest renewable energy hubs globally.

SWREL is currently executing nearly 6 GW of projects in Khavda, with about 5 GW targeted for completion this fiscal year. The additional 1 GW order further reinforces its strong operational footprint and leadership in the region.

With this win, the company's total order inflows for the fiscal year have crossed Rs 64.5 bn, and it notes that the pipeline remains strong.
 

Arvind SmartSpaces Rises on Ahmedabad Project

Arvind SmartSpaces' share price climbed following the company's acquisition of a new premium residential high-rise project in Vastrapur, Ahmedabad.

The project spans approximately 3.6 lakh sq. ft. of saleable area and has an estimated top-line potential of around Rs 4 bn.

Acquired on an outright basis, the addition bolsters the company's growth pipeline and supports its strategy to expand its premium residential portfolio in high-demand markets. This marks ASL's 24th project in Gujarat.

Arvind SmartSpaces, founded in 2008 and a part of the Lalbhai Group's legacy spanning over 128 years, is a prominent real estate developer based in Ahmedabad.

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