Indian equity markets extended their losing streak to a seventh consecutive session on Wednesday, with the benchmark NSE Nifty50 settling 76.60 points, or 0.32%, lower at 24,078.30.
The Nifty found support at the lower band of the rising channel and filled a gap on the daily timeframe. The 61.8% Fibonacci retracement level also coincided with these support levels, where the index made a low.
Immediate support is placed at 24,000-24,050. If this zone holds, Rupak De, senior technical analyst at LKP Securities, believes the Nifty could stage a meaningful recovery. However, a failure to sustain above 24,000 could increase bearishness and drag the index towards much lower levels. Therefore, long positions should be held with a strict stop-loss at 24,000.
Against this backdrop, shares of Hyundai Motor India, BSE, HEG, Ceigall India, Hexaware Technologies and several other companies are likely to remain in focus in Thursday's trade following corporate developments.
Hyundai Motor India plans to increase vehicle prices by up to 1% across its portfolio, effective September 2026. The quantum of the increase will vary depending on the model and variant. The company said the price revision has been necessitated by a combination of rising input and commodity costs, higher operational expenses and continuing geopolitical and macroeconomic uncertainties.
Aditya Infotech's board on Wednesday approved raising funds through the issuance of securities by one or more permissible modes, including public issue(s), qualified institutional placement (QIP), or a combination thereof, subject to shareholder and regulatory approvals. The securities may be issued for an aggregate amount of up to ₹1,500 crore, including any premium, at such price or prices as may be permitted under applicable laws. The issue may be undertaken in one or more tranches.
BSE
BSE has entered into an agreement with MSCI for a number of its indexes. The exchange will explore the launch of futures and options contracts in India linked to these indexes, subject to regulatory approvals. BSE said the move will support its role in further developing the Indian capital market.
HEG
Graphite electrode manufacturer HEG said the National Company Law Tribunal (NCLT), Indore Bench, has approved the Composite Scheme of Arrangement among HEG, HEG Graphite and Bhilwara Energy. The scheme will become effective once the certified copy of the order is received and filed with the Registrar of Companies.
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Ceigall India said its joint ventures have secured five Letters of Acceptance from the Ministry of Road Transport & Highways (MoRTH), with a combined bid cost of ₹2,423.70 crore. The orders are for road construction on NH-913, or the Frontier Highway, in Arunachal Pradesh. The five LOAs were secured within two days.
HDFC Life Insurance Company said it has received IRDAI approval for the reappointment of Vibha Padalkar as managing director and chief executive officer for a further five-year term with effect from September 12, 2026. The company also received approval for the reappointment of Niraj Shah as executive director and chief financial officer for a further five-year term with effect from April 26, 2026.
The Phoenix Mills said O2 Renewable Energy XXVIII has allotted 2,74,332 equity shares of ₹10 each and 24,690 Series B compulsory convertible debentures of ₹1,000 each to the company. It has also allotted 3,02,568 equity shares of ₹10 each and 27,231 Series B compulsory convertible debentures of ₹1,000 each to the company's subsidiary, Offbeat Developers.
Engineers India has fixed September 24, 2026, as the record date for determining the entitlement of members to receive the final dividend for FY26, subject to approval by shareholders at the company's annual general meeting.
Astra Space Technologies, a wholly owned subsidiary of Astra Microwave Products, has received approval from the Registrar of Companies, Ministry of Corporate Affairs, for conversion from a private limited company to a public limited company.
The lender Bank has announced its empanelment as an arranger and collector for HUDCO Capital Gain Bonds.
Oil India has fixed September 4, 2026, as the record date for the final dividend for FY26 recommended by its board at its meeting held on May 13, 2026. The dividend will be paid within the stipulated period of 30 days after approval by shareholders.
JSW Dulux received a show-cause notice dated August 17, 2026, under Section 73 of the CGST Act/Rules, 2017, on August 18. The notice pertains to the disallowance of input tax credit for the period from April 2022 to March 2023, aggregating to ₹1.84 crore. This comprises tax of ₹1.08 crore, interest of ₹64.80 lakh and penalty of ₹11.24 lakh, according to the exchange filing.
AI-first digital and IT services company Hexaware Technologies announced Zero Vulnerability, a cybersecurity offering aimed at addressing the growing challenge of vulnerabilities facing enterprises. The company said AI is helping vulnerabilities surface faster, while security and engineering teams continue to have finite capacity to investigate and fix them.
Blackstone-backed realty developer Kolte-Patil Developers has appointed Hrishikesh Parandekar as chief executive officer with effect from August 24. Parandekar will spearhead the company's next phase of growth, driving business expansion, operational excellence, institutional strengthening and long-term shareholder value, the company said.
