Market Decline Continues, Mahindra's Aerostructures Bags Airbus Deal, RailTel Gets Rs 82.4 Cr Order

18 Jan 2024 , 01:38 PM

Sensex and Nifty faced continued selling pressure on Thursday, following a slump on Wednesday, with HDFC Bank shares contributing to the decline.

LTIMindtree and Asian Paints also saw declines post their December quarter results, impacting the overall performance of the IT index, which emerged as one of the worst-performing sectors on the NSE.

The Sensex recorded a drop of 405.70 points or 0.57%, closing at 71,095.06, while the Nifty experienced a decline of 133.40 points or 0.62%, settling at 21,438.60.

Market statistics indicated that 1471 shares advanced, 1691 shares declined, and 80 shares remained unchanged during the trading session.

Mahindra Aerostructures (MASPL), a subsidiary of Mahindra and Mahindra, signed a new contract with Airbus Aerostructures GmbH for manufacturing and delivering metallic components for all Airbus commercial aircraft models, including the A320 family.

Under the contract, MASPL is set to supply nearly 5,000 varieties of metallic components to Airbus in Germany, with production taking place at its manufacturing base in India.

RailTel Corporation of India received a work order amounting to Rs 82.4 crore from South Central Railway. The order encompasses comprehensive ground infrastructure works for the provision of 4G LTE-R in 523 RKM of the Secunderabad division within South Central Railway.

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