News for Orissa Bengal Carrier Limited (OBCL.BO)

Orissa Bengal Carrier Limited signs major contract with Sunflag Iron & Steel Co for transportation services, boosting market position.

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Logistics firm Orissa Bengal Carrier Limited (OBCL) has entered into an agreement with mining major Vedanta Limited for the transportation of finished aluminium items.

Sensex & Nifty, Indian benchmark indexes trader lower today on weak global cues. On September 7, the Nifty 50 closed at 17,624.40, and Sensex closed at 59,028.91 points, falling marginally. Tata Consumer, Coal India, Adani Ports, Axis Bank, Wipro, SBI Life, Britannia, TCS, Cipla, HDFC Life, BPCL, and Ultratech Cement were some of the top gainers today.

Shares of small cap company into logistics services - Orissa Bengal Carrier in intra-day trade on August 5, 2022 hit 20% upper circuit of Rs. 130.7. Last at the time of writing this copy at around 3 pm, its shares erased some gains and traded higher by over 12% at Rs. 122.5 per share on the NSE.

Domestic equity markets cracked on Tuesday as Covid-19 scare in China, and rising bond yields and Brent crude prices globally, dented investors' sentiment. The S&P BSE Sensex was down over 600 points or 1 per cent at 58,354, while the NSE Nifty 50 was testing the 17,450-mark.

Benchmark indices BSE Sensex and NSE Nifty 50 gave up early gains as the Reserve bank of India raised inflation projections for FY23 to 5.7 per cent from 4.5 per cent, while downgrading real GDP estimates to 7.2 per cent from 7.8 per cent earlier.

The BSE Sensex was down 350 points at 59,240, and the NSE Nifty 50 was at 17,700 levels, down by 100 points. A total of 169 stocks hit fresh 52-week high on BSE, while 9 scrips touched new lows.

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