Sensex Today Trades Higher | Nifty Above 25,200 | Zomato Jumps 4%

Thu, 5 Sep 10:30 am

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Asian stocks regained some ground after a global selloff as traders awaited this week's US payrolls data to gauge the extent of the Federal Reserve's easing.

The MSCI Asia Pacific Index rose 0.5% after falling more than 2% on Wednesday, its biggest drop since the 5 August rout.

US stocks were mixed on Wednesday, seesawing the day after a steep sell-off fuelled by worries about economic growth.

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	157.81	-0.80	-0.50%	160.40	157.44	193.30	121.46
Apple	220.85	-1.92	-0.86%	221.78	217.48	237.23	164.08
Meta	512.74	0.98	0.19%	516.59	504.07	544.21	279.40
Tesla	219.41	8.81	4.18%	222.22	210.57	278.97	138.80
Netflix	679.68	4.36	0.65%	684.65	673.06	711.33	344.73
Amazon	173.33	-2.92	-1.66%	175.98	172.54	201.20	118.35
Microsoft	408.90	-0.54	-0.13%	411.24	404.37	468.35	309.45
Dow Jones	40974.97	38.04	0.09%	41172.59	40840.89	41585.21	32327.20
Nasdaq	18921.40	-37.34	-0.20%	19070.82	18808.76	20690.97	14058.33

Source: Equitymaster

At present, the BSE Sensex is trading 56 points higher and NSE Nifty is trading 18 points higher.

Tata Steel, ITC and Titan among the top gainers today.

Nestle, Britannia, Bharti Airtel the other hand are among the top losers today.

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.

Broader markets are trading on positive. The BSE Midcap index is trading 0.4% higher and the BSE Smallcap index is trading 0.9% higher.

Sectoral indices are trading mixed with stocks in telecom sector, healthcare sector and metal sector witnessing buying. Meanwhile stocks in realty sector and media sector witnessing selling pressure

The rupee is trading at Rs 83.97 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 71,436 per 10 grams today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

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Suzlon Energy Sells Headquarters

Suzlon Energy sold its corporate headquarters, 'One Earth,' in a Rs 4.4 billion (bn) sale-and-leaseback transaction with OE Business Park Private Limited, a special purpose vehicle managed by 360 ONE Alternates Asset Management.

The deal, formalised on 4 September, involves leasing back the office space for up to five years. This allows Suzlon to continue operations while monetising a non-core asset.

The property sale in Pune is part of Suzlon's broader strategy to focus on core manufacturing activities and strengthen its financial position. Suzlon retains the right to repurchase the asset through a call option, while the new owners have a put option to sell the property back to Suzlon under agreed terms.

This move underscores Suzlon's intent to streamline operations and enhance liquidity amid growing competition in the renewable energy sector, as India ramps up its renewable energy capacity to meet ambitious climate goals.

The renewable energy company acquired a 76% stake in Renom Energy Services for Rs 400 crore to strengthen its operation and maintenance (O&M) services in the wind energy sector last month. The company does not see any potential sell-offs shortly.

The company has an order book of 3.8 gigawatts (GW) as of the June 2024 quarter.

Suzlon is one of the leading global renewable energy solutions providers.

The company's operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears, and nacelles.

Reliance Industries Wins EV Batteries Bid

Reliance Industries has won a bid under an incentives program which supports EV battery production, a statement from the Indian government said on Wednesday.

Earlier this year, seven companies submitted bids to set up local manufacturing units to produce advanced chemistry cells, or ACCs, under the government's production-linked incentive (PLI) scheme.

Reliance can make up to 10 gigawatts of ACCs.

The oil-to-telecom conglomerate beat six other competitors, which included units of battery maker Amara Raja Energy and Mobility and power producer JSW Energy.

ACCs are used as EV cells, critical to the development of electric vehicles in the world's third-largest car market.

The scheme, with a maximum outlay of US$ 434.4 million and aimed to boost local production of batteries, comes at a time when the government has set ambitious targets for EV adoption.

Electric models made up about 2% of total car sales in India last year, and the government wants to increase that to 30% by 2030.

PNB Housing Finance to Raise via NCDs

PNB Housing Finance Ltd. said on Wednesday that its Board of Directors will convene on Monday, 9 September 2024, to deliberate on and potentially approve the issuance of Non-Convertible Debentures (NCDs) up to Rs 25 bn.

The NCDs are proposed to be issued on a private placement basis, in multiple tranches over the next six months.

This move is part of PNB Housing Finance's strategy to bolster its capital structure and fund key corporate initiatives, including expansion projects and working capital requirements.

The issuance aims to enhance the company's financial flexibility and strengthen its market position amid changing business conditions.

The outcome of this meeting is likely to impact the company's financial stability and strategic trajectory, drawing significant interest from investors and market participants.

Further details regarding the issuance and its implications will be disclosed following the Board's decision on Monday.

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

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