Gift Nifty Up 20 Points | NBCC's Rs 12.6 Billion Order Win | PSP Projects Bags New Construction Orders | Top Buzzing Stocks Today

Tue, 24 Sep Pre-Open

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Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.

Indian benchmark indices, the BSE Sensex and NSE Nifty50, surged to historic highs before settling at record closing high levels on Monday.

At the closing bell on Monday, the BSE Sensex stood higher by 384 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 146 points (up 0.6%).

Bajaj Auto, M&M and ONGC were among the top gainers.

Eicher Motors, ICICI Bank and Asian Paints on the other hand, were among the top losers.

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 and BSE SmallCap index ended 0.7% higher.

Sectoral indices were trading positive with socks in oil & gas, sector auto sector and energym sector witnessing most buying.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 74,191 per 10 grams at the time of Indian market closing hours on Monday.

At 8:15 AM today, the Gift Nifty was trading 20 points higher at 25,987 levels.

Indian share markets are headed for a positive start today following the trend on Gift Nifty.

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Top buzzing stocks today

Bajaj Healthcare share price will be in focus today.

Bajaj Healthcare's shares rose nearly 7% around noon after the company informed the exchanges that it has entered into a development and supply agreement with a European entity for an Active Pharmaceutical Ingredient (API).

Bajaj Healthcare said that initially, the API will be supplied in small quantities for clinical trials, where it will be tested for an alternative indication.

ONGC will also be a top buzzing stock.

Shares of state-owned ONGC rose 3% to a day's high of Rs 294.4 on the BSE after the company announced signing an addendum to its Production Sharing Agreement (PSA) for the Azeri-Chirag-Deepwater Gunashli (ACG) Field in Azerbaijan's Caspian Sea.

The addendum to the ACG PSA allows progress in exploring, appraising, developing, and producing Non-Associated Natural Gas (NAG) from the ACG field and is effective until the current PSA ends in 2049.

NBCC's Rs 12.6 Billion Order Win

State-run National Building Construction Company (NBCC) Ltd. said that the company's wholly-owned subsidiary HSCC (India) Ltd. has won an order.

HSCC India has won an order worth Rs 12.6 bn from the Ministry of Health and Family Welfare of the Government of India for the establishment work of an All India Institute of Medical Sciences (AIIMS) in Bihar's Darbhanga.

Further scope of the order and execution timelines have not been specified by the company.

Earlier this month, NBCC had signed an MoU with cash-strapped MTNL Ltd. to collaborate on developing a positive land parcel of MTNL, measuring nearly 13.88 acres in New Delhi. The project is said to be valued at Rs 16 bn.

NBCC has approved issuing bonus shares in the 1:2 ratio, meaning shareholders will receive one free share for every two shares held by shareholders as of the record date.

The record date for the NBCC bonus issue has been fixed as 7 October 2024.

This is the first such proposal the company is considering after 2017, in which the company had declared a 1:2 bonus issue as well.

PSP Projects Bags New Construction Orders

PSP Projects on Monday, 23 September said it has received new orders worth Rs 5.5 bn.

The orders include the construction of Gold Stone Hotel and Commercial Towers at Bengaluru worth Rs 3.9 bn in the institutional category and the construction of residential towers in Ahmedabad worth Rs 1.7 bn.

In Bengaluru, the Gold Stone Hotel is to be completed in 22 months, while the commercial towers are to be completed within 16 months.

The residential towers in Ahmedabad are to be completed within 25 months.

With the fresh orders, the company's total order inflow for the ongoing fiscal year amounts to Rs 14.4 bn so far.

Last month, the company said it bagged multiple projects, collectively worth Rs 6.6 bn.

The first order, worth Rs 4.8 bn, was for the civil and structural work for the project 'Himalaya' at Sanand, Gujarat for International Refreshments (India) Pvt. Ltd.

The second order, worth Rs 1 bn, was for the construction of project 'Ninety' at Mumatpura, Ahmedabad.

Bitcoin Jumps to 1 Month High

Bitcoin was the notable mover as it reached for one-month highs on Monday, sustaining its rally after the Federal Reserve's super-sized rate cut last week, while the yen extended its decline in markets thinned by a Japanese holiday.

The dollar strengthened against the yen last week after policy meetings in both the United States and Japan, hitting its highest level in two weeks at 144.5 yen. It was around 144.16 on Monday.

The Bank of Japan (BOJ) left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision, coming just days after the Fed's 50 basis points (bps) rate cut, put a pause on the yen's sharp gains this month. The currency is up 1.4% in September.

With Japan closed for Autumnal Equinox Day, the main driver of trade was expectations around further Fed rate cuts and the gains those have spurred in equities, commodity currencies and other risk assets.

Bitcoin was up 1.8% at US$ 63,954, hovering near one-month highs. Ether was 3% higher at 2,660.3, near its highest since late August.

The Australian dollar was 0.4% higher at $US 0.68, digesting its rise of more than 3% in less than two weeks.

The US dollar index, which measures the greenback against six major currencies, was at 100.8, continuing to stay above the one-year low it hit last week. Euro was flat at US$ 1.11.

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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