Benchmark indices were trading higher in early deals today (August 22). Sensex rose 65 points to 65,280 and Nifty was up 22 pts to 19,416
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "There are two dominant factors influencing equity markets now. One, the resilient US economy is supporting global growth and global equity markets; this is a positive. Two, the sharp spike in US bond yields (the 10-year yield at 4.34% is the highest since 2007) is impacting capital flows to emerging markets like India; this is a negative for Indian markets. Sustained rise in FII inflows will happen only if the US bond yields decline. Clarity on this will emerge only after trends in U S inflation and Fed’s monetary stance indicate softening. Investors should wait for clarity on these macro trends."
Shares of Adani Enterprises gained 3% during the early trading session following the buying interest by the promoter entity. Shares of Adani Enterprises surged more than 3% to Rs 2720.65. The company commanded a total market capitalization of more than Rs 3.1 lakh crore. Total 1.12 lakh shares of the firm changed hands amounting to a turnover of Rs 30.25 crore on BSE
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Shares of Tata Power gained over 1.35% to Rs 242.60 during the early trading session as the company's subsidiary Tata Power Renewable Energy Ltd (TPREL) inked a power purchase agreement (PPA) for 9MWp on campus solar plant with Tata Motors' Pantnagar plant in Uttarakhand. The project will be commissioned within six months from the PPA execution date
Shares of Union Bank gained over 1.5% to Rs 93.20 in early deals as the board of the lender approved raising of up to Rs 5,000 crore via qualified institutional placement (QIP). Floor price for the QIP has been fixed at Rs 91.10 per share. The decision was taken by Union Bank's committee of directors for raising capital funds, which met on Monday
Welspun Enterprises shares gained over 2% to Rs 318.80 as the firm has announced the successful acquisition of a 50.10% stake in Michigan Engineers from Authum Investment & Infrastructure Limited and Sansaar Housing Finance Limited, for an equity investment of Rs 137.07 crore. Total 0.51 lakh shares of the firm changed hands amounting to a turnover of Rs 1.59 crore on BSE. Market cap of the firm rose to Rs 4371.11 crore
Shares of Bharat Heavy Electricals Ltd (BHEL) approached their 52-week high today after the firm said it has won an order worth Rs 4,000 crore from Mahan Energen Limited, a wholly owned subsidiary of Adani Power. BHEL stock gained 2.42% to Rs 100.85 against the previous close of Rs 100.85 on BSE today. On Monday, the stock ended 2.91% higher at Rs 100.85. The stock has gained nearly 6% in two sessions amid news of the Rs 4000 crore order
Shares of Adani Power gained 5.53% to Rs 343 today the Adani group company in an investor presentation said it was aiming to achieve a thermal generation capacity of 21,110 MW by FY29, with proposed brownfield projects and inorganic growth. Adani Power has an existing capacity of 15,210 MW. It has committed brownfield projects of 1,600 MW and proposed another 3,200 MW projects
Shares of Zomato gained 5.04% to Rs 94.25 today. Market cap of Zomato rose to Rs 79,952 crore. Total 29.53 lakh shares of the firm changed hands amounting to a turnover of Rs 27.46 crore on BSE
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