NIFTY50: 19,396 ▲ 2.8 (+0.01%)
SENSEX: 65,220 ▲ 3.9 (+0.01%)
- Markets end flat, but mid and small cap stocks saw strong gains
- In all, 26 of the NIFTY50 stocks closed in the red
- Price of Mentha Oil futures on MCX have rallied over 12% so far this month amid a fall in output
Among the NIFTY sectoral indices, Metal (+0.8%) and FMCG (+0.6%) were the top gainers, while PSU Bank (-0.4%) and Pharma (-0.2%) were the top losers.
| Top gainers | Today's change |
| Adani Enterprises | 2,694 ▲ 55 (+2.0%) |
| HDFC Life | 634 ▲ 9.5 (+1.5%) |
| ITC | 454 ▲ 6.6 (+1.4%) |
| Top losers | Today's change |
| Jio Financial | 236 ▼ 12 (-5.0%) |
| BPCL | 346 ▼ 5.1 (-1.4%) |
| Cipla | 1,221 ▼ 12 (-1.0%) |
What’s trending
⭐ Adani Power surges on capacity expansion plans
Adani Power shares witnessed a strong traction today, rising over 7% after the company released its growth focused investor presentation. Company targets to raise its thermal generation capacity to 21,110 MW by FY29 through acquisitions and brownfield projects.
⭐Jio Financial exclusion from benchmarks deferred
Jio Financial Services (JFS) shares were locked in the 5% lower circuit for the second straight day. As a result, the stock’s exclusion from the NIFTY50 and SENSEX has been postponed to 29 August. Initially, JFS shares were supposed to be excluded from the indices on 24 August. But since the stock hit lower circuits for two consecutive days of the three-day period, the exclusion date was deferred.
⭐ Brigade Enterprises hits 52-week high
Shares of Brigade Enterprises hit a new 52-week high today. This after the company acquired a new 6.5-acre land parcel in Chennai for ₹138.8 crore. The real estate developer has acquired this land from Pfizer Healthcare India and aims to develop a residential project on it.
⭐ Crude prices remain steady
International crude oil prices continued to trade in the green with Brent crude futures trading above $84 per barrel after losing some ground in the previous session. Prices continue to remain volatile as economic uncertainties in China weigh on the demand outlook.
In Focus
How Bharat NCAP will benefit the Indian auto industry
The Indian government today launched the Bharat New Car Assessment Programme (Bharat NCAP). It aims to provide a tool to the car buyers to assess the crash safety of motor vehicles in the market. Interestingly, India is only the fifth country in the world to have its own vehicle-safety programme based on crash tests. Why did the government introduce Bharat NCAP and how will it benefit automakers? Let’s dig in.
What is Bharat NCAP?
Under Bharat NCAP, automakers can voluntarily submit their cars to be tested as per Automotive Industry Standards. Vehicles that can carry upto nine passengers and having gross weight of less than 3.5 tonnes are eligible for testing. The programme will test all types of vehicles, including CNG and electric vehicles.
Bharat NCAP will conduct crash tests based on global crash-test protocols like Global NCAP. The vehicles will then be assigned star ratings in the range of 1 to 5, with 5 being the highest rating. There will be separate star ratings for adult occupants (AOP) and child occupants (COP).
Benefits of Bharat NCAP for automakers
Auto experts believe that this new policy will bring several benefits for the Indian automakers. For starters, they will no longer have to ship their vehicles abroad for testing, which is a time-consuming and expensive process. It will help them assess the export-worthiness of their vehicles.
Further, these standards will help car buyers make well-informed decisions based on safety ratings of vehicles. Additionally, it will promote a healthy competition among automakers to manufacture safer vehicles.
Automakers like Maruti Suzuki, Tata Motors, M&M and others have welcomed the move to introduce the Bharat NCAP. They believe it would encourage the production of safer cars in the country. In fact, Maruti Suzuki has already announced plans to send as many as three models for testing on a voluntary basis.
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