On Monday, Indian shares took a minor dip, reflecting weak signals from global markets as traders anticipated key U.S. inflation data for the week. This data could potentially impact the Federal Reserve's rate path.
In early trading, the benchmark S&P BSE Sensex had fallen 90 points to 74,033, while the broader NSE Nifty index dropped 8 points, standing at 22,485.
JM Financial saw a significant downturn of 8% after SEBI, the market regulator, prohibited the company from accepting new mandates as a merchant banker for debt public issues. Likewise, Vedanta decreased by 1% following an administrative caution from SEBI, while GAIL went down 1.6% due to a cut in CNG prices.
In contrast, Torrent Power experienced a substantial surge, leaping up by 7.3% after receiving a letter of award valued at Rs 1,540 crore from the Maharashtra state electricity distribution company. Similarly, Rail Vikas Nigam saw a rise of 5% on securing a contract worth Rs 251 crore from Madhya Pradesh Poorv Kshetra Vidyut Vitaran.
PNC Infratech also observed an increase of 1.1%, thanks to winning an order worth Rs 1,174 crore in Madhya Pradesh. H.G. Infra Engineering rose by 2.3% after being announced as the lowest, or L-1, bidder by the National Highways Authority of India for a project worth Rs 610.11 crore.
In the meantime, Adani Enterprises and Adani Ports both saw an increase of around 1% based on reports of the Group's expansion in the airport business. Tata Communications also made gains, rising by 1% after inaugurating a new state-of-the-art production and delivery facility in Los Angeles.
