Benchmark indices were trading lower in early deals today (August 9). The 30-share Sensex fell 331 points to 65,515 and Nifty lost 84 points to 19,486
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “With the Q1 results season coming to an end, the focus of the market will shift from micros to macros. The institutional activity in the market has turned neutral since the FII selling is matched by DII buying. A clear trend in the market may come from macros. US CPI print expected soon and the MPC decision on 10th might give indication of the likely market trend. The MPC is likely to hold the rates and retain the stance but the tone is likely to be hawkish since inflation is high and expected to rise in July.”
Shares of IRCON International Ltd rose to a record high after the Indian Railways firm reported a 30% rise in Q1 net profit. The stock of the state-owned engineering and construction firm zoomed 6.75% to Rs 106.43 against the previous close of Rs 99.70 on BSE. Market cap of the firm rose to Rs 9,928 crore on BSE. IRCON stock also touched an intraday low of Rs 99.71 on BSE.
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Shares of Shyam Metalics hit a record high in early trade to 464.50 on BSE. Market cap of the firm rose to Rs 11,848 crore. The stock hit upper circuit of 10% on the back of July sales data.
HCC shares rose over 11% to a fresh 52-week high of Rs 22.80 on BSE today. Market cap of the firm rose to Rs 3384 crore. Total 124.32 lakh shares of the firm changed hands amounting to a turnover of Rs 28.14 crore on BSE.
Shares of Orient Cement climbed over 8% to a fresh 52-week high of Rs 193 on BSE. Market cap of the firm rose to Rs 3,944 crore. Total 1.24 lakh shares of the firm changed hands amounting to a turnover of Rs 2.31 crore on BSE.
Shares of Adani Wilmar dropped nearly 5% to Rs 374 amid a report that suggested Adani group's flagship Adani Enterprises was exploring selling its stake in its Mumbai-listed consumer-staple joint venture with Wilmar International Ltd, freeing up capital for their core business. Market cap of the firm fell to Rs 49,387 crore. Total 5.16 lakh shares of the firm changed hands amounting to a turnover of Rs 19.64 crore on BSE.
Shares of renewable energy firm Suzlon Energy rose 5% intraday to Rs 19.56 on BSE against the previous close of Rs 18.63. Market cap of Suzlon Energy rose to Rs 24,122 crore. Turnover and volumes were high for the Suzlon Energy stock with 460.29 lakh shares changing hands amounting to a turnover of Rs 89.57 crore on BSE.
Shares of Tata Power were trading flat at Rs 233.20 ahead of Q1 earnings today. The stock is also in focus today after the Tata Group firm has inked an agreement with the Maharashtra government on August 8 to develop two large pumped hydro storage projects (PSP) with a combined capacity of 2,800 Megawatts (MW) in the state.
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