Sensex Today Ends Flat | Nifty Below 25,300 | Godrej Industries Rallies 18%

Tue, 3 Sep Closing

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After opening the day higher, Indian benchmark indices continued the momentum as the session progressed and ended the day firm.

Benchmark equity indices ended the week's first trading session at record high closing levels.

At the closing bell, the BSE Sensex stood lower by 4 points.

Meanwhile, the NSE Nifty closed lower by 1 points.

ICICI Bank, Hero MotoCorp and Bajaj Finserv among the top gainers today.

ONGC, HCL Tech and Infosys on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,369 up 4 points at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.2% higher and BSE SmallCap index ended 0.6% higher.

Sectoral indices were trading positive with socks in capital goods sector, finance sector and telecom sector witnessing buying speer. Meanwhile stocks in IT sector and oil & gas sector witnessed selling pressure.

Shares of Trent, JK Cement and Mphasis hit their respective 52-week highs today.

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The rupee is trading at 83.96 against the US$.

Gold prices for the latest contract on MCX are trading marginally higher at Rs 71,693 per 10 grams.

Meanwhile, silver prices were trading 0.6% lower at Rs 84,010 per 1 kg.

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Gensol Engineering rallies 3%. Here' Why

Moving on to news from the engineering sector, shares of Gensol Engineering surged 3% to Rs 971 apiece on 3 September after the company emerged as the lowest bidder for developing India's first bio-hydrogen project for a leading power generation company, in collaboration with Matrix Gas & Renewables.

The landmark project, to be established by the Gensol - Matrix consortium, will convert 25 tonnes of bio-waste into 1 tonne of hydrogen per day.

The project valued at Rs 1.6 bn, scheduled for completion within 18 months, marks a significant milestone in aligning with the National Green Hydrogen Mission for biomass to green hydrogen generation.

The scope of work involves establishing a facility for processing 25 tons of bio-waste per day and producing 1 ton of green hydrogen daily using the Pre-Gasification Plasma-Induced Radiant Energy-Based Gasification System (GH2-PREGS) technology.

Gensol and Matrix, both companies promoted by common promoters, will continue to collaborate in the Green Hydrogen sector and its derivatives, including Green Steel and Green Ammonia, leveraging the unique skill sets of each entity.

Established in 2012, Gensol Engineering Limited, is a leading player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services, along with electric mobility solutions.

Why Adani Green Energy's Share Price is Falling

Moving on to news from the energy sector, shares of Adani Green Energy fell over 1.5% on September 2 amid weak markets.

This is despite the company announcing that it has signed a binding agreement for a JV with TotalEnergies Renewables Singapore, involving an investment of US$ 444 million (m) into a new entity.

This comes after the company and the French oil major had inked a US$ 300 m deal to build renewable capacity in India, where the bulk of energy requirements are still met by coal.

The joint venture will house a 1,150 MWac (Mega-Watt Alternating Current) solar power portfolio in a mix of operational and under-execution assets, with a blend of both merchant-based as well as PPA-based projects. Adani Green and TotalEnergies will each own a 50% stake in the resultant entity.

The transaction details are under discussion and subject to customary approvals and conditions, the company added. TotalEnergies, through its affiliate entities, holds a nearly 20% stake in Adani Green.

For the quarter ended June, Adani Green Energy reported a 95% jump in consolidated net profit at Rs 6.3 bn, compared to a net profit of Rs 3.2 bn in the year-ago period.

Kaynes Tech Soars 8%. Here's why.

Moving on to news from the IT sector, Kaynes Technology shares surged over 8% in early trade on 3 September after the Central government approved a chip proposal by the firm under the semiconductor scheme.

The Cabinet has approved a Rs 33 bn proposal by electronics maker Kaynes Tech to build a semiconductor packaging plant with a capacity to produce 6 m chips a day, Union minister Ashwini Vaishnaw said on 2 September.

The proposed unit will be set up in Sanand, Gujarat where two other chipmaking proposals have been approved under the Rs 760 bn India Semiconductor Mission.

The chips produced in the Kaynes unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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