The Indian equity markets experienced a downturn today, with the NSE Nifty50 settling at 24,219, down 33 points or 0.14%, after erasing early gains to end below the 24,200 level intraday. According to latest market reports, GIFT Nifty futures had traded 57 points or 0.24% lower at 24,154 as of 7.55 AM, indicating a cautious market opening. The Nifty50 finished slightly above 24,200 after reclaiming the level at close, with traders bracing for heightened volatility amidst forthcoming US sanctions on Iran and the impending expiry of monthly futures and options. Support is seen at 24,200-24,000, while 24,350 could act as a key resistance level, with analysts expecting the market to remain volatile as traders adjust positions ahead of new US sanctions on Iran and a possible response from Tehran.
The government has officially announced the offloading of up to 6 per cent of Hindustan Copper Limited (HCL) via an offer for sale, with Arunish Chawla, Secretary in the Department of Investment and Public Asset Management (DIPAM), confirming that the Government of India offers to divest 3 per cent equity in Hindustan Copper Limited (HCL) through an Offer for Sale (OFS), with an option to divest an additional 3 per cent (green shoe) in case of oversubscription. The floor price has been fixed at ₹514 per share, providing investors with a clear entry point for the copper mining company. 10 per cent of the offer is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees, as confirmed by DIPAM officials. The OFS will open for non-retail investors on August 25 and for retail investors on August 26, according to the latest updates from market sources. This represents a 10% discount to the last closed price of ₹573.55, making it an attractive opportunity for investors.
TCS has made a significant international acquisition by approving the acquisition of 100 per cent of equity shares of MHP Management- und IT-Beratung GmbH (MHP), a subsidiary of Porsche AG (Porsche) for an enterprise value of €320 million. According to Mint, this strategic move expands *TCS'*s capabilities in the automotive and manufacturing sectors through the German subsidiary's expertise in IT consulting and management services. The deal is part of a five-year partnership between TCS and the German carmaker to work on artificial intelligence and software-led mobility, with TCS establishing a dedicated AI Mobility Centre of Excellence for Porsche to drive innovation across manufacturing, engineering, operations and customer experience. On average, the contract translates about $290 million in annual revenue for TCS, providing a key revenue boost amid broader market concerns. This marks the Mumbai-based IT services firm's second mega-deal in less than a year, following a 10-year, billion-dollar contract with Telefónica SA to modernize the telecom company's back-end IT. TCS has now announced that Porsche AG has entered into a five-year strategic deal with MHP Management- und IT-Beratung GmbH and TCS, with a total value of €1.25 billion, following the initial acquisition.
Suzlon Energy has announced plans to invest ₹10,000 crore in Andhra Pradesh, including the development of 1,325 MW of new wind projects in Rayadurg constituency of Anantapur district. As reported by Business Standard, Refex Industries secured two contracts worth ₹33.70 crore for loading & transportation fly ash and excavation of fly ash. L&T Energy Hydrocarbon Onshore (LTEH Onshore) signed an over ₹15,000 crore contract for undertaking gas compression facilities project for a West Asia company against a letter of award issued in 2025-26. Ceigall India Limited received Letters of Acceptance from the Ministry of Road Transport & Highways for construction of a key section of the Lada-Sarli section of NH913 (Frontier Highway) in Arunachal Pradesh, at a contract value of ₹704.70 crore, with the project being executed jointly with Sushee Infra & Mining Limited. Ceigall India will hold a 74% share, while Sushee Infra & Mining will hold the remaining 26% of the project.
Bharti Airtel's payments bank subsidiary reported an 82 per cent rise in net profit to ₹19 crore for the first quarter ended in June, driven by good operating performance. According to Business Standard, Ceigall India Limited received Letters of Acceptance from the Ministry of Road Transport & Highways for construction of a key section of the Lada-Sarli section of NH913 (Frontier Highway) in Arunachal Pradesh, at a contract value of ₹704.70 crore. Power Finance Corporation (PFC) withdrew its planned three-year bond issuance as bids came in at yields higher than expected, while accepting ₹2,500 crore through a 15-year bond at a cut-off coupon of 7.55 per cent. Fino Payments Bank's board has approved the extension of tenure of Ketan Merchant as interim CEO for a period of three months effective from August 27, 2026, subject to RBI approval. Piramal Finance has opened a proposed issue after receiving approval from its Committee of Directors (Administration, Authorisation & Finance), with the committee approving a floor price of ₹2,102.65 per equity share. HEG has fixed September 7, 2026, as the record date for determining shareholders eligible to receive consideration under the composite scheme of arrangement involving HEG, HEG Graphite and Bhilwara Energy.
