Indian equity benchmarks remained under pressure by Monday afternoon, August 31, with the Sensex hovering around 76,880, down 0.50%, while the Nifty 50 was hovering near 24,040, lower by 0.57%. 

Sterlite Technologies and Transformers & Rectifiers gained sharply on company-specific developments, while HDFC Bank, Hindustan Copper Ltd. and several packaged-food companies traded lower. 

Trading activity was also strong in New India Assurance, Supreme Petrochem, Authum Investment and Balrampur Chini Mills.

Sterlite Technologies

Sterlite Technologies Ltd. share price gained 5% and touched a record high after the optical fibre cable maker secured a $288 million long-term supply agreement from a hyperscaler firm, with deliveries scheduled across CY27 to CY29 and a possible two-year extension. The company also reported record Q1 FY27 revenue of Rs 1,910 crore and EBITDA of Rs 397 crore, up 87% and 184% year-on-year, respectively, while its open order book stood at Rs 18,618 crore and EBITDA margin reached 20.8%. The shares have gained nearly 608% since the start of 2026.

Transformers & Rectifiers

Transformers & Rectifiers (India) share price advanced 7.74% after the company secured its first nuclear-sector order from Megha Engineering and Infrastructure for the supply of generator transformers for NPCIL’s Kaiga Units 5 and 6 project in Karnataka. 

The two reactors will add 1,400 MW of nuclear generation capacity, with the transformers forming part of the electrical infrastructure required for power evacuation and grid integration. The order gives the Ahmedabad-based manufacturer an entry into a specialised power segment alongside its existing business across generation, transmission, distribution, renewable energy, railways, steel and infrastructure.

HDFC Bank

HDFC Bank Ltd. share price saw a topsy turvy session. It gained as much as 2.45% in early trade after Managing Director and CEO Sashidhar Jagdishan decided not to seek another term and will retire on October 26, 2026. However, the stock dropped nearly 3% from the day’s high in midday trade. 

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The board has begun the process of selecting his successor and the stock remained positive as the market appeared to focus on the removal of the immediate reappointment uncertainty and the planned transition process.

FMCG stocks in focus

Nestlé India, ITC, Hindustan Unilever, Tata Consumer Products, Varun Beverages and Britannia Industries are in focus. Nestlé India share price declined 0.65%, while ITC share price fell 0.41%, Hindustan Unilever share price declined more than 1%, Tata Consumer Products share price fell 0.97%, Varun Beverages share price slipped 0.81% and Britannia Industries share price declined 1% by midday.

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This is  after FSSAI proposed prominent red front-of-pack warning labels for packaged foods high in added saturated fat, added sugar and salt. The proposal could increase pressure on companies with significant exposure to such products through possible reformulation and compliance costs, although the immediate earnings impact remains limited as the proposal has not yet been implemented.

New India Assurance, Supreme Petrochem, Authum Investment and Balrampur Chini Mills

New India Assurance share price gained 7.24%, Supreme Petrochem share price advanced 6%, Authum Investment share price rose 6.6% and Balrampur Chini Mills share price climbed 12.7% amid unusually high trading volumes. Trading on the NSE increased 15.6 times for New India Assurance, 12 times for Supreme Petrochem, 7.1 times for Authum Investment and 5.3 times for Balrampur Chini Mills compared with their respective recent average volumes, with the sugar company also moving higher alongside other sugar stocks.

Leela Palaces Hotels & Resorts

Leela Palaces Hotels & Resorts share price gained 4.97% and touched a 52-week high after Jefferies initiated coverage on the luxury hospitality company, forecasting 19% to 20% CAGR in EBITDA and profit after tax between FY26 and FY29. The company reported a 444% year-on-year rise in Q1 FY27 consolidated net profit to Rs 49 crore, while revenue increased 28% to Rs 352 crore and adjusted operating EBITDA rose 41.6% to Rs 143 crore, taking the EBITDA margin to a record 40.6%.

Ashoka Buildcon

Ashoka Buildcon Ltd. share price jumped 15% after the company received a Letter of Acceptance from Rail Vikas Nigam for a Rs 602.16 crore project involving electromechanical systems for four tunnels under the Rishikesh-Karnprayag New BG Rail Line Project in Uttarakhand. The 30-month project includes substations, cables, DG sets, lighting, UPS, ventilation and fire-fighting systems, while the company reported a Rs 15,251 crore order book at the end of June 2026. Its Q1 FY27 profit fell 41% to Rs 128 crore, revenue declined 21% to Rs 1,500 crore and EBITDA fell 57% to Rs 258 crore.