Produced by: Aseem Thapliyal Designed by: Muskan Arora
The domestic equity market was trading higher in early deals today. Sensex rose to a record high of 74,254 and Nifty touched an all-time high of 22,529. Market cap of BSE-listed firms rose to Rs 392.39 lakh crore.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said,"The undertone of the market is bullish and there is momentum in the market. The market has been showing signs of consolidation but the spurt in Nifty by 322 points on the last 2 trading days indicates that the upward momentum can sustain. There are reports of mutual funds introducing restrictions on redemptions from the smallcaps schemes. This is in response to the ‘ frothy’ valuation in this segment and the concerns expressed by the regulator. The consequence of this action would be higher flows of funds into the largecaps, which, in turn, can lift the large caps."
Tata Steel shares rose nearly 3% to hit a record high early deals on Monday. Tata Steel stock zoomed 2.75% to Rs 160.20 on BSE. Tata Steel stock opened higher at Rs 156.85 against the previous close of Rs 155.90 on BSE. Market cap of the firm rose to Rs 1.99 lakh crore.
Shares of real estate major Prestige Estates Ltd gained nearly 5 percent in early deals on Monday as the firm via its subsidiaries, inked a deal with Abu Dhabi Investment Authority (ADIA) and Kotak AIF for Rs 2,001 crore ($240 Million) to capitalise on growth opportunities in the residential sector. Prestige Estates stock rose 4.73% to Rs 1225.30 today against the previous close of Rs 1169.95 on BSE. Total 9421 shares of the firm changed hands amounting to a turnover of Rs 1.13 crore in early deals.
Shares of Hindustan Aeronautics Ltd (HAL) rose nearly 4% today after the company said it has inked a contract with Cochin Shipyard Limited (CSL), Kochi for supply of 6 sets of LM2500 gas turbines (GT) and GT Auxiliaries (GTAE), spares, tools for Indian Navy Next Generation Missile Vessel (NGMV) Project. Hindustan Aeronautics shares rose 3.81% to a 52 week high of Rs 3454.35 on BSE.
Shares of Suzlon Energy fell over 3% to Rs 39.20 today. Market cap of the firm slipped to Rs 55,263 crore on BSE. A total of 38.90 lakh shares of the firm changed hands amounting to a turnover of Rs 15.63 crore on BSE. The stock fell after the I-T department issued two income tax penalty orders to it for financial year 2015-16 (FY16) and FY17. The two penalty orders were worth Rs 87.59 crore and Rs 172.76 crore, respectively.
Shares of Jio Financial rose 2.92% to hit a high of Rs 364.15 on BSE. Market cap of the firm climbed to Rs 7558 crore. The stock climbed after Jio Leasing Services Limited along with its nominees invested an amount of Rs 2.50 crore towards the initial subscription of 25,00,000 equity shares of Rs. 10/- each of Reliance International Leasing IFSC Limited for cash at par.
Shares of IRFC zoomed 3.01% to Rs 146.70 in early deals. Market cap of the firm stood at Rs 1.89 lakh crore. A total of 30.54 lakh shares of the firm changed hands amounting to a high turnover of Rs 44.37 crore on BSE.
Shares of Hindustan Copper gained over 8 percent to Rs 303 against the previous close of Rs 278.20 on BSE. A total of 11.90 lakh shares of the bank changed hands amounting to a high turnover of Rs 35.46 crore on BSE. Market cap of the firm rose to Rs 35.46 crore.
Shares of JSW Steel gained 5% to Rs 873.50 in early deals today. Total 2.20 lakh shares of the firm changed hands amounting to a turnover of Rs 18.91 crore on BSE. The stock was the top Sensex gainer today.
Shares of PNB Housing gained 14.47% to Rs 720.40 against the previous close of Rs 629.30 on BSE. Market cap of the firm climbed to Rs 18,433 crore. Total 1.25 lakh shares of the firm changed hands amounting to a turnover of Rs 8.76 crore on BSE. The stock was among the top gainers on BSE today.
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