RAINBOW CHILDREN SHARES FALL ON CFO RESIGNATION

Shares of Advait Energy Transitions gained 4% after the company received a turnkey contract worth ₹134.63 crore from Madhya Pradesh Power Transmission Co. Ltd. The order involves the design, manufacturing and supply of an Emergency Restoration System suitable for 400kV, 220kV and 132kV voltage-class extra-high-voltage transmission lines, along with all associated accessories. Sai Parenterals shares rose nearly 3% after its Australian subsidiary, Noumed Pharmaceuticals, renewed its OTC Medicines Supply Agreement with one of Australia’s leading multi-billion-dollar pharmacy chains. The renewed agreement includes an expanded product portfolio, a longer tenure and a higher contract value. The deal is estimated at AUD 30 million, or approximately ₹204 crore, over a three-year period and is effective immediately. Rainbow Children’s shares declined nearly 2% after the company announced that Vikas Maheshwari had resigned as Chief Financial Officer (CFO) and Key Managerial Personnel. His resignation will take effect from August 31, 2026, and is attributed to personal reasons. At the sectoral level, the PSU Bank index advanced 1%, while selling pressure was seen in consumer durables, IT and infrastructure stocks. The broader market remained positive, with both the Nifty Midcap and Nifty Smallcap indices gaining around 0.3% each.