Market Update: Indices in the Red, Tata Investment Hits 52-Week High

22 Feb 2024 , 01:37 PM

Indian benchmark indices traded in the red on Thursday, influenced by HDFC Bank, Bharti Airtel, and Reliance Industries, amidst mixed global cues.

Most sectors witnessed a downturn, with the Nifty PSU Bank index leading the decline, dropping over 1%, while IT and media sectors traded in the green.

At the time of writing, the benchmark index Sensex was trading at ₹72,341, reflecting a 0.39% dip from the previous close. The Nifty was at ₹21,966, marking a 0.40% decrease compared to the previous close.

RVNL-SALASAR JV emerged as the Lowest Bidder (L1) for a project from Madhya Pradesh Power Transmission Company Limited.

Olectra Greentech secured an order worth ₹4,000 Crore for 2,400 electric buses, causing the stock to jump by 6%. Tata Investment Corporation shares rallied 7% to reach a new 52-week high of ₹6,958.5, with a 33% surge in the last eight days.

Prataap Snacks, known for Yellow Diamond chips, surged up to 14% to ₹1,336.40 after reports indicated that ITC is considering the purchase of a 47% stake held by Peak XV Partners.

Sugar stocks declined as the government raised the fair price to ₹340 per quintal. NBCC entered into two MoUs with HUDCO, leading to a 4% increase in its stock.

Tata Tele Business Services announced the provision of a unified solution on toll-free for WhatsApp Business. HCL Technologies is expanding collaboration with Intel Foundry to co-develop customized silicon solutions, enhancing foundry services for semiconductor manufacturers, system OEMs, and cloud services providers.

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