Opening Bell: Frontline indices trade in red

Opening Bell.

Indian Market
by 5paisa Research Team Last Updated: 2022-10-10T10:11:18+05:30

On Monday, Indian equity markets kicked off the first trading session of the week with negative developments.

At 9:40 AM, Nifty 50 is trading at levels of 17,100 with losses of more than 1%. Majority of the sectoral indices are trading in red as well. Top large-cap losers include Tata Motors, Hero Motocorp, HDFC, Hindalco and Asian Paints.

Watch out for these buzzing stocks in today’s session!

Power Grid Corporation of India - The company has informed the bourses that POWERGRID Bhind Guna Transmission Limited (a wholly owned subsidiary of the company, secured through tariff-based competitive bidding) with a mandate to establish a transmission system for intra-state transmission work associated with the construction of 400kV substation near Guna (Madhya Pradesh) & 220kV substation near Bhind (Madhya Pradesh) on build, own, operate and maintain (BOOM) basis has successfully commissioned the project on 6 September 2022.

Sterlite Technologies - The company has recently announced its collaboration with Vocus Group for Project Horizon in Western Australia. Under the partnership, the company will provide high-strength optical fibre cables for Vocus’ inter-capital network extension program. This deal strengthens the company's relationship with Vocus, where Sterlite previously provided its optical networking solutions, 'Oticonn' for brownfield network build projects.

As a fibre partner for project Horizon, STL will support Vocus’ network rollout with a state-of-the-art design, combined with high-tensile and crush-strength cable technology. The cables have a design life of more than 30 years, ensuring Project Horizon will continue to deliver high-capacity connectivity through the Pilbara until the 2050s even in harsh environmental conditions.

Tech Mahindra - The company has announced a strategic partnership with SoftTech, a provider of advanced digital solutions for the construction and civil infrastructure industry, to digitally transform the global construction and infrastructure industry. The partnership will combine the technological capabilities of Tech Mahindra and the domain expertise of SoftTech to provide customised solutions for the end-to-end digital transformation of business in the construction and infrastructure industry. It will enable customers across the government and corporate sectors to streamline business operations, boost efficiency, and improve customer experience by leveraging leading-edge technologies.

Orbit Exports - The company has successfully completed the installation of new water jet looms at its production unit situated in Fairdeal Textile Park, at Mahuvej village in Surat. The new looms will increase the total production capacity of the fabric by 20% from the existing capacity. The company is engaged in manufacturing and exporting fancy fabrics, and operates across multiple verticals in the value-added fabric market, from women’s apparel to Christmas crafts and home decor, with special interests in occasion-specific fabrics and finished products.

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