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Trendlyne Marketwatch
03 Sep 2025, 03:59PM
Market closes higher, Netweb Tech wins a Rs 1,734 cr IndiaAI Mission order for sovereign AI system
By Trendlyne Analysis

 

Nifty 50 closed at 24,715.05 (135.5, 0.6%), BSE Sensex closed at 80,567.71 (409.8, 0.5%) while the broader Nifty 500 closed at 22,864.65 (140.3, 0.6%). Market breadth is in the green. Of the 2,548 stocks traded today, 1,632 were in the positive territory and 868 were negative.

Indian indices closed higher after extending gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 4.1% and closed at 10.9 points. TBO Tek closed 15% in the green on plans to acquire US-based Classic Vacations from The Najafi Companies for up to $125 million (Rs 1,100 crore).

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, tracking the benchmark index. Nifty Metals and Nifty MidSmall Healthcare were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the highest-performing sector of the day, with a rise of 4.2%.

European indices are trading higher, except Portugal’s PSI index, which is trading 0.1% lower. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the session as investors await the Federal Reserve’s snapshot of the US economy, scheduled to release later today.

  • Money flow index (MFI) indicates that stocks like Maruti Suzuki, HBL Power Systems, UNO Minda, and Ola Electric Mobility are in the overbought zone.

  • Yes Bank rises sharply after the Competition Commission of India (CCI) clears Sumitomo Mitsui Banking Corporation’s (SMBC) plan to acquire up to 25% stake. The deal will make SMBC the single-largest shareholder in the bank.

  • Arkade Developers is rising as it plans to acquire a 100% stake in Woollen and Textile Industries for Rs 148 crore. The deal includes a 14,364 square metres land parcel in Bhandup (West), strengthening its presence in Mumbai’s central corridor.

  • Axis Direct maintains its 'Buy' call on Inox Wind, with a target price of Rs 190 per share. This indicates a potential upside of 31.6%. The brokerage expects the company's revenue to grow in the medium term, driven by a strong order book with diverse clients and a healthy mix of equipment supply and Turnkey projects. It expects the firm's revenue to grow at a CAGR of 59.6% over FY26-27.

  • As the GST Council meets today, the Federation of Hotel & Restaurant Associations of India (FHRAI) submits a five-point agenda, calling for a uniform lower GST across hospitality services, higher tariff thresholds, and other relief measures to enhance the competitiveness of India’s tourism sector.

  • Caplin Point Laboratories rises as its arm, Caplin Steriles, gets USFDA approval to sell Milrinone Lactate in 5% dextrose injection, a treatment for severe heart failure. The drug’s US sales were around $11 million (around Rs 97 crore) in the 12 months ending July 2025.

  • Indus Towers falls to its 52-week low of Rs 312.6 per share as its board of directors approves expansion in African markets, including Nigeria, Uganda and Zambia. This move aims to anchor its customer relationship with Bharti Airtel, with the company further evaluating other African markets where Airtel has established its presence.

  • Tata Consultancy Services expands its partnership with Tryg, a Scandinavian non-life insurance company, in a deal worth Euro 550 million (~ Rs 5,636.8 crore). The company will simplify and standardise operations across Tryg's three major markets (Denmark, Sweden and Norway) over the next seven years.

  • Oliver Brinkmann, co-head of global corporate banking at JP Morgan, says the bank is expanding its corporate banking presence in India, focusing on high-growth sectors like EVs, data centers, and solar energy. India, along with Japan, remains one of JPMorgan’s fastest-growing Asian markets, with strong growth expected despite the US doubling tariffs on several Indian imports to 50%.

  • Inox Green Energy Services is rising as it signs an operations and maintenance (O&M) services agreement for 189.1 megawatt peak (MWp) of solar projects in Maharashtra and Madhya Pradesh. This takes its solar O&M portfolio to about 1.8 gigawatt (GW) and total renewable O&M portfolio to nearly 5.3 GW.

  • MOIL rises sharply as manganese ore production jumps 17% YoY to 1.5 lakh tonnes in August. The company guides for FY26 production of 24 lakh tonnes compared to 18 lakh tonnes in FY25.

  • E2E Networks surges to its 10% upper circuit as it bags an order worth Rs 177 crore from the Government of India to allocate H200 SXM and H100 SXM graphics processing units (GPUs) for 360 days under the IndiaAI Mission.

  • Tarun Arora, CEO of Zydus Wellness, highlights the company’s first international acquisition of UK-based supplements firm Comfort Click for £239 million (approximately Rs 2,500 crore). He notes that Comfort Click operates in markets complementary to Zydus Wellness, enabling the company’s expansion into the UK and US wellness sectors. He also points out that the European vitamins and mineral supplements market is estimated at around £11 billion (approximately Rs 1.2 lakh crore).

  • JSW Cement rises as its revenue grows 7.8% YoY to Rs 1,559.8 crore in Q1FY26. However, it reports a net loss of Rs 1,356.2 crore compared to Rs 15.1 crore loss in Q1FY25, due to a one-off charge from converting compulsory convertible preference shares (CCPS) into equity. The company also appears in a screener of stocks with zero promoter pledge.

  • Netweb Technologies rises sharply as it bags an order worth Rs 1,734 crore from the Government of India to develop a sovereign artificial intelligence (AI) system under the IndiaAI Mission. The company will deliver the systems through its Tyrone Camarero AI platform.

  • Vikran Engineering's shares debut on the bourses at a 2.1% premium to the issue price of Rs 97. The Rs 772 crore IPO received bids for 23.6 times the total shares on offer.

  • India’s Services PMI climbs to a 15-year high of 62.9 in August, up from 60.5 in July. The rise is fueled by improved business confidence, supported by advertising plans and strong demand forecasts, despite modest job growth.

  • Anlon Healthcare's shares debut on the bourses at a 1.1% premium to the issue price of Rs 91. The Rs 121 crore IPO received bids for 7.1 times the total shares on offer.

  • Afcom Holdings' board of directors approves raising Rs 200 crore through a qualified institutional placement (QIP) of equity shares. The board also approves the preferential issue of 12.4 lakh shares worth Rs 106.6 crore.

  • Waaree Energies rises as its board of directors approves the acquisition of a 64% stake in Kotson's for a cash consideration of Rs 192 crore. The company's board also approves acquiring a 100% stake in its step-down subsidiary, Impactgrid Renewables.

  • Zomato increases its platform fee to Rs 12 per order, up from Rs 10, amid a surge in transactions driven by festive-season demand. The hike is seen as a temporary move, with the fee likely to return to Rs 10 once demand normalizes.

  • Man Industries surges as it receives an export order worth Rs 1,700 crore from an international customer to supply coated pipes.

  • UPL is rising as Advanta Enterprises' subsidiary, Advanta Mauritius plans to acquire the post-harvest business under Decco Holdings UK, a step-down subsidiary of UPL, at an enterprise value of $502 million (~ Rs 4,420 crore).

  • PNC Infratech rises as it emerges as the lowest bidder for a Rs 297 crore project from the Airports Authority of India (AAI). The order involves the development at Lal Bahadur Shastri International Airport, Varanasi, including runway extension, re-carpeting, strengthening of the existing runway, and related work.

  • TBO Tek surges as it plans to acquire US-based Classic Vacations from The Najafi Companies for up to $125 million (Rs 1,100 crore). The deal strengthens its position in the premium North American travel market.

  • Nifty 50 was trading at 24,541 (-38.6, -0.2%), BSE Sensex was trading at 80,295.99 (138.1, 0.2%) while the broader Nifty 500 was trading at 22,713.95 (-10.5, -0.1%).

  • Market breadth is in the green. Of the 2,066 stocks traded today, 1,327 were on the uptick, and 676 were down.

Riding High:

Largecap and midcap gainers today include Tata Steel Ltd. (167.85, 6.0%), Jindal Steel Ltd. (1,028.35, 5.5%) and Steel Authority of India (SAIL) Ltd. (129.68, 5.4%).

Downers:

Largecap and midcap losers today include Phoenix Mills Ltd. (1,512.40, -3.4%), MRF Ltd. (1,50,455, -2.2%) and UNO Minda Ltd. (1,283.20, -2.0%).

Volume Rockets

27 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included TBO Tek Ltd. (1,591, 15.1%), NMDC Steel Ltd. (43, 9.6%) and Piramal Pharma Ltd. (201.16, 7.7%).

Top high volume losers on BSE were ZF Commercial Vehicle Control Systems India Ltd. (13,802, -2.7%), Kirloskar Oil Engines Ltd. (893.50, -2.5%) and Zensar Technologies Ltd. (778.65, -1.8%).

Tejas Networks Ltd. (612.40, 4.5%) was trading at 7.6 times of weekly average. Indus Towers Ltd. (324.15, -1.6%) and EIH Ltd. (412.50, 3.6%) were trading with volumes 7.5 and 7.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks hit their 52 week highs, while 2 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bosch Ltd. (41,100, -0.5%), CCL Products India Ltd. (933.20, 1.0%) and L&T Finance Ltd. (227.15, 2.4%).

Stocks making new 52 weeks lows included - Indus Towers Ltd. (324.15, -1.6%) and Deepak Nitrite Ltd. (1,762.30, 0.2%).

35 stocks climbed above their 200 day SMA including TBO Tek Ltd. (1,591, 15.1%) and NMDC Steel Ltd. (43, 9.6%). 6 stocks slipped below their 200 SMA including Honeywell Automation India Ltd. (36,755, -2.4%) and Zensar Technologies Ltd. (778.65, -1.8%).

 
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