Fag-end buying helped the benchmark index gain and close in the green after a gap of two days. Bharti Airtel, Nestle India, TCS and ITC contributed the most to the profit.
The BSE Sensex rose 55 points (up 0.1%) at the closing bell.
Meanwhile, the NSE Nifty closed with a gain of 16 points (up 0.1%).
ONGC and Bharti Airtel were among the top gainers today.
On the other hand, SBI Life Insurance and HDFC Life Insurance were the biggest losers today.
Till the time of writing the news, SGX Nifty was trading at 17,384 with a gain of 13 points.
The BSE Midcap index and BSE Smallcap index ended up 0.6% and 0.5%, respectively.
Sectoral indices closed on a mixed note with shares in the power sector and the telecom sector saw the most buying.
On the other hand, selling pressure was witnessed in realty stocks.
Shares of Abbott India and Marico hit their 52-week highs today.
Asian stock markets today closed with a mixed trend.
The Hang Seng ended the day down 2.3%, while the Shanghai Composite ended the day up 0.5%. Nikkei closed down 0.6% in today’s trading session.
US stock futures are trading on a negative note today, with Dow futures trading down 79 points.
Rupee is trading at 73.50 against US Dollar.
Gold prices are trading lower by 0.3% for the latest contract on MCX ₹46,920 per 10 grams.
In news from the power sector, Tata Power Was one of the top buzzing stocks today.
Macrotech Developers (Lodha) on Thursday announced that it has partnered with Tata Power to provide end-to-end Electric Vehicle (EV) charging solutions across all its residential and commercial projects in the Mumbai Metropolitan Region (MMR) and Pune. Is.
Under this partnership, Tata Power will set up EV charging stations at MMR and the Lodha development in Pune. These chargers will be available to all residents of Lodha and EV owners.
Tata Power will provide installation and charging support for electric vehicles with 24×7 service, maintenance support, remote vehicle charging monitoring and e-payment through EasyCharge mobile application.
This partnership will enable uniform and all-encompassing EV charging experience for Lodha residents
The company further stated that vehicular emissions are a growing source of pollution in Maharashtra, the Maharashtra government recently announced its plan to aggressively develop EV charging infrastructure in the state and this partnership is on the agenda of decarbonizing transport. will play a major role in fulfilling State.
Tata Power has a wide network of over 5,000 home chargers and over 600 public chargers in over 120 cities in India.
The company is present in all segments of the EV ecosystem – public charging, captive charging, home and workplace charging stations, and has deployed all types of chargers including DC chargers as well as AC chargers.
Share price of Tata Power fell 0.3% on the day on BSE.
talking about EV Charging StationAfter the government announced the expansion of the FAME II scheme, several states such as Maharashtra, Gujarat, Rajasthan and Delhi have announced their policies for faster adoption of electric vehicles.
Under the FAME II scheme, 350 new EV charging stations have been installed across the country.
Here is a summary of the stations that have been established in each city.
see full image
The government is actively formulating guidelines such as setting up of EV charging infrastructure by the Ministry of Power, amendment in the Model Building By-laws (MBBL-2016) for EV Charging Infrastructure by the Ministry of Housing and Urban Affairs, etc.
Moving on to the news in the engineering sector…
Greaves Cotton announces entry into multi-brand EV retail segment
Share price of Greaves Cotton jumped over 5% on BSE today after the company entered the multi-brand EV retail segment.
Nagesh Basavanahalli, Managing Director and Group CEO, Greaves Cotton said,
This will be the first of its kind multi-brand retail store for clean tech or electric mobility. First of all we will start with Bangalore. We will assess the response and then move on to other major EV cities in the country.
Introduced under the AutoEVMart brand name, the platform serves as a marketplace for EVs in the country, which will offer e-two-wheelers and e-three-wheelers along with accessories.
The ‘autoEVmart’ platform is a concept that will enable consumers to choose from a wide range of electric vehicles, from Ampere Electric to other brands in the EV space.
The company said that it will soon launch the first retail store under this new business.
The announcement comes on World EV Day, which is celebrated every year on 9 September.
The day marks the celebration of e-mobility. Special awareness campaigns are organized globally to educate people about the benefits of electric vehicles.
The company’s foray into the multi-brand EV retail segment is in line with its ambitious campaign – ‘Moving Billion with Greaves’.
With this launch, Greaves Electric Mobility is participating in this global movement to accelerate the adoption of electric vehicles.
Share price of Greaves Cotton rose 2.3% on BSE.
This article is syndicated from equitymaster.com
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