Opening Bell: Negative global cues put a dent in Indian equities

On Wednesday, domestic equity markets opened on a weak note with heavy losses on account of negative global cues.

At 9:30 AM Nifty 50 and Sensex are trading in the red territory at levels of 17,909 and 59,994, down by more than 0.90% each. The majority of the sectoral indices are also trading in the red territory with losses. Top large-cap losers comprise Infosys, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services and HCL Technologies.

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

JSW Steel - The company has recently forged a collaboration with German-based engineering and technology company SMS group to explore multiple cutting-edge solutions and R&D projects to reduce carbon emissions in its iron and steelmaking operations in India. The collaboration will enable the companies to explore opportunities together to reduce carbon emissions and produce green steel in one of the hard-to-abate sectors.

Bharat Forge - Kalyani Powertrain Limited (KPTL), a wholly-owned subsidiary of the company. and a leading global supplier of critical chassis and powertrain components has joined hands with Harbinger Motors Inc, a company revolutionizing the medium-duty commercial electric vehicle industry, to form a joint venture focused on developing electric drivetrain solutions for the commercial vehicle market.

The new JV, named ElectroForge, will leverage the strengths of both the partners to offer best-in-class drivetrains developed for the Class 3 through 8 markets, delivering superior efficiency and cost competency. The partnership will perfectly balance the forward-thinking innovation of Harbinger’s experienced EV team and the vast manufacturing knowledge and scalability of Bharat Forge. 

Praveg Communications (India) - The company has informed the bourses that it has received a Letter of Award (LoA) dated September 13, 2022, from Varanasi Development Authority, Varanasi for the Development of ‘Tent City’ at the Bank of River Ganges, Varanasi (Uttar Pradesh). Incorporated in 2016 after the merger of Praveg Communications Limited with Sword and Shield Pharma; the company is engaged in providing services to the Hospitality sector, Publications and Real Estate marketing.

KEC International, a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,108 crore across its various businesses.