Indices at previous closing
Nifty50: 16,634 ▲ +10 (+0.0%)
Sensex: 55,944 ▼ -14 (-0.0%)
Nifty Bank: 35,586 ▼-125 (-0.3%)
In the news
JSPL plans to double production capacity
Jindal Steel & Power (JSPL) plans to invest $2.4 billion over the next five years to increase its production capacity. The steel manufacturer said that the expansion will nearly double its steel capacity from 8.6 million tonnes to 15.9 million tonnes.
This comes in the backdrop of the Indian government’s infrastructure push and a revival in demand. Even JSPL’s peers Tata Steel and ArcelorMittal Nippon Steel India have declared plans to double their capacities. Shares of JSPL were up 0.4% yesterday. Meanwhile, the Nifty Metal Index has risen 3.4% this week.
Thermax bags major contract
Thermax has won a contract worth ₹293 crore for a petrochemical complex in western India. The order comprises the design, manufacture, installation and testing of three oil and gas-fired boilers.
In Q1FY21, the company booked orders worth ₹1,696 crore, up 179% from the same period last year. The stock closed nearly 1% higher yesterday, but has declined about 4% this month. The announcement of the order came after market hours.
Allied Digital soars on large order
Shares of the Mumbai-based IT services provider hit the 10% upper circuit after the company announced bagging a ₹650 crore contract from an undisclosed automotive major based in the US.
During the six-year contract, Allied Digital will enable the digital transformation of the client’s IT infrastructure across several countries. This is Allied’s largest contract from the US market.
Sectoral indices (August 25)
| Top gainers | Top losers |
| Nifty IT ▲ 0.7% | Nifty Realty ▼ 0.7% |
| Nifty FMCG ▲ 0.5% | Nifty Media ▼ 0.6% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.0% |
| Nikkei 225 (Japan) | ▼ 0.1% |
| Hang Seng (Hong Kong) | ▼ 0.3% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (August 25) | ▲ 0.1% |
| NYSE (US) (August 25) | ▲ 0.4% |
| Nasdaq (US) (August 25) | ▲ 0.1% |
Fact of the day
Toymaker Funskool is a joint venture between MRF and US-based toy manufacturer Hasbro. It manufactures and distributes toys in India for brands such as Disney and Warner Brothers.
Source: MRF
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