HCC Fixes Record Date for Rights Issue | Rupee Slumps to Record Low | Top Buzzing Stocks Today

Wed, 3 Dec Pre-Open

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Indian benchmark indices slipped further as the session progressed and eventually closed more than 500 points lower.

India's benchmark indices traded in the red on Tuesday, after slipping from fresh record levels in the previous session amid profit-taking and foreign investor selling.

At the closing bell on Tuesday, the BSE Sensex closed lower by 504 points (down 0.6%).

Meanwhile, the NSE Nifty closed 144 points lower (down 0.6%).

Asian Paints, HUL and Bharti Airtel was the top gainers.

Axis Bank, HDFC Bank and Reliance Industries on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended flat and BSE SmallCap index ended 0.5% lower.

Sectoral indices were trading mixed on Tuesday with stocks in auto sector, telecom sector and consumer durables sector witnessing buying. Meanwhile stocks in banking sector and power sector witnessing selling pressure.

Speaking of stock markets, Research Analyst at Equitymaster, Raul Shah, says the meme-stock frenzy and IPO hype show how irrational the market has become. But for a disciplined investor, this isn't a risk-it's the biggest opportunity.

Tune in for more...

Top buzzing stocks today

Swiggy share price will be in focus today.

Shares of food and grocery delivery platform Swiggy rose 3% on 2 December following reports that the company is preparing to raise up to Rs 100 billion from institutional investors as early as next week.

Bloomberg, citing sources, said Swiggy has shortlisted three banks to manage the share sale: the Indian units of Citigroup, JPMorgan Chase, and Kotak Mahindra Capital.

Swiggy's board had approved plans on 7 November to raise up to Rs 100 bn via a qualified institutional placement, subject to shareholder and regulatory approvals.

Emmvee Photovoltaic will also be a top buzzing stock.

The shares of Emmvee Photovoltaic jumped around 10% on 2 December after the company released its results for the second quarter of the financial year 2026. The newly-listed stock has now extended gains for the third consecutive session.

The solar PV module and cell manufacturer had released its results in the post-market hours of 1 December.

HCC Fixes Record Date for Rights Issue

Hindustan Construction Company shares jumped 14.2% on the BSE, logging an intra-day high at Rs 27.46 per share. The buying interest on the counter came after the company fixed Friday, December 5, 2025, as the record date for its rights Issue.

A rights issue is a way for a listed company to raise money by offering new shares first to its existing shareholders, in proportion to their current holdings.

The company's board approved raising Rs 100 bn by way of a rights Issue in a meeting on 26 November 2025.

Accordingly, the company has decided to keep the total number of rights equity shares at 79,99,91,900 for an amount aggregating to Rs 9.9 bn.

The floor price for the transaction is fixed at Rs 12.5 per rights equity share (including a premium of Rs 11.5 per rights equity share) payable on application.

Vidya Wires IPO

The maiden public issue of Vidya Wires, a Gujarat-based copper and aluminium wires manufacturer, is scheduled to open for public subscription on Wednesday, 3 December 2025.

The company aims to raise Rs 3 bn through a combination of fresh issue of 52.7 million shares worth Rs 2.7 bn and an offer for sale (OFS) of 5 million shares worth Rs 260.1 m.

Under the OFS, Shyamsundar Rathi and Shailesh Rathi are the promoters selling shareholders.

According to the red herring prospectus (RHP), the company has reserved not more than 50% of the issue for qualified institutional buyers (QIBs), not less than 35% for retail investors and not more than 15% for non-institutional investors (NIIs).

Rupee Slumps to Record Low

The rupee hit the psychological 90-a-dollar level in intraday trade before settling 42 paise down at an all-time low of 89.95 (provisional) against the US dollar on Tuesday, largely owing to continued short-covering from speculators and sustained importer demand for the American currency.

Forex traders said multiple pressures, like foreign fund outflows from equities and lingering uncertainty over the Indo-US trade deal, are keeping investor sentiment fragile.

At the interbank foreign exchange market, the rupee opened at 89.70, then lost its ground and fell to a record intraday low of 90.00 against the US dollar, down 47 paise over its previous close.

At the end of trade on Tuesday, the rupee settled at a record low of 89.95 (provisional) against the greenback, down 42 paise over its previous close.

On Monday, the rupee depreciated by eight paise to close at 89.53 against the US dollar.

Brent crude, the global oil benchmark, was trading 0.25 per cent lower at USD 63.03 per barrel in futures trade.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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