Midday Market Movers: Adani Green Energy Secures Rs 4,700 Crore Transmission Project
Indian equity benchmarks remained subdued by midday on Wednesday, August 26, with the Nifty hovering near 24,280, down about 0.21%, while the BSE Sensex was marginally higher at around 77,690.
The top movers included Adani Green Energy, which gained after securing a Rs 4,700 crore transmission project in Maharashtra through competitive bidding. The project will support renewable energy evacuation from Karnataka and added 562 circuit kilometres of transmission lines and 9,000 MVA of transformation capacity.
Hindustan Copper shares rose by 3.59% as retail bidding opened for the government's OFS after institutional buyers oversubscribed their portion by 3.41 times. The government is selling up to a 6% stake at a floor price of Rs 514 per share.
PSU bank stocks recorded broad gains, led by Bank of Maharashtra, which rose 6.4%. Other gainers included Indian Bank, Union Bank of India, and State Bank of India.