Sensex Today Trades Lower; Tech Mahindra & ICICI Bank Top Losers
Asian stock markets traded mostly lower on Thursday following a volatile session on Wall Street overnight.
US stock market ended higher amid volatility on Wednesday speculation about the future of Federal Reserve Chair Jerome Powell.
Here's a table showing how US stocks performed on Wednesday:
| Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|---|---|
| Alphabet | 183.77 | 0.67 | 0.37% | 185.34 | 183.08 | 208.7 | 142.66 |
| Apple | 210.16 | 1.05 | 0.50% | 212.4 | 208.64 | 260.09 | 169.21 |
| Meta | 702.91 | -7.48 | -1.05% | 713.97 | 699.27 | 747.9 | 442.65 |
| Tesla | 321.67 | 10.89 | 3.50% | 323.5 | 312.62 | 488.54 | 182 |
| Netflix | 1250.31 | -9.96 | -0.79% | 1271 | 1249.82 | 1341.15 | 588.43 |
| Amazon | 223.19 | -3.16 | -1.40% | 226.1 | 222.18 | 242.52 | 151.61 |
| Microsoft | 505.62 | -0.2 | -0.04% | 506.72 | 501.89 | 508.3 | 344.79 |
| Dow Jones | 44254.78 | 231.49 | 0.53% | 44260.19 | 43758.98 | 45073.63 | 36611.78 |
| Nasdaq | 22907.97 | 23.38 | 0.10% | 22928.56 | 22669.37 | 23051.87 | 16542.2 |
Source: Equitymaster
At present, the BSE Sensex is trading 60 points lower, and the NSE Nifty is trading 23 points lower.
Sun Pharma, Kotak Mahindra, and M&M are among the top gainers today.
Tech Mahindra, ICICI Bank, and HUL, on the other hand, are among the top losers today.
The BSE Midcap index is trading 0.1% higher, and the BSE Smallcap index is trading 0.4% higher.
Sectoral indices are trading mixed today with stocks in metal sector and realty sector were witnessed buying. Meanwhile stocks in IT sector and services sector witnessing selling pressure.
The rupee is trading at Rs 85.9 against the US dollar.
Reliance Power Raises Huge Funds
Reliance Power, led by Anil Ambani, has approved a fundraising plan to raise Rs 90 billion (bn). This includes Rs 60 bn through equity shares and Rs 30 bn through non-convertible debentures (NCDs).
Through a follow-on public offering (FPO) or qualified institutions placement (QIP), Reliance Power intends to raise Rs 60 bn through equity shares. For this capital raise, the company will ask shareholders for their approval.
Additionally, Reliance Power intends to raise Rs 30 bn through the private placement of non-convertible debentures (NCDs), which may be secured or unsecured, in one or more tranches. After shareholder approval, the board will finalise the terms.
Tech Mahindra' Q1 Profit Surges 34%
Tech Mahindra's Q1 net profit rose 33.9% to Rs 11.4 bn, driven by strong deal wins and steady performance across business verticals.
According to the company's filing, revenue from operations increased 2.65% to Rs 133.5 bn in the first quarter of FY26 from Rs 130.1 bn in the same period last year.
According to CEO of Tech Mahindra, the company's performance is improving due to focused strategy and disciplined execution, with deal wins up 44% over the previous 12 months.
As of 30 June 2025, the company employed 1,48,517 people, an increase of 897 over the previous year. On a trailing 12-month basis, attrition in IT services was 12.6%.
Tech Mahindra Ltd. offers a wide range of IT services to a diverse clientele of corporate clients across numerous industries, including IT-enabled services, application development and maintenance, consulting, and enterprise business solutions, among other things.
Hindustan Zinc Wins Potash Block Approval
The Ministry of Mines, Government of India, has sent a Letter of Intent (LOI) to Hindustan Zinc Limited regarding the distribution of a potash and halite block in the district of Hanumangarh, Rajasthan. The company acquired this block through Tranche V of the May 2025 central government e-auction.
This is among the country's first potash blocks to be allotted. The company's expansion into the critical minerals sector continues with the awarding of the 1,800-hectare block.
The company recently received Letters of Intent (LOIs) for three critical mineral assets: a potash block in Rajasthan, a Rare Earth Elements block in Uttar Pradesh, and a tungsten block in Andhra Pradesh.
CEO of Hindustan Zinc said the potash block acquisition aligns with company's strategy to explore critical mineral, supporting India's mineral security and economic growth.
PNC Infra Wins 300MW Solar Deal
PNC Infratech has been declared the lowest bidder for NHPC's 300 MW Inter-State Transmission System (ISTS) solar power project with energy storage, securing the contract.
The company stated in a regulatory filing that a 150 MW/600 MWh energy storage system (ESS) is also part of the contract, which was awarded through a tariff-based competitive bidding (TBCB) process. The project's quoted tariff is Rs 3.13 per kWh.
The award is part of NHPC's bid to install 1,200 MW of ISTS-connected solar power capacity with 600 MW and 2,400 MWh of ESS throughout India, with a greenshoe option. On 15 July, PNC conducted an electronic reverse auction to secure its allotment.
According to the company, the project must be completed within 24 months of the power purchase agreement's (PPA) effective date, and operations are expected to continue for 25 years thereafter.
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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...
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