Produced by: Aseem Thapliyal Designed by: Mohsin Shaikh
The domestic equity market was trading higher on Wednesday. Sensex rose 154 points to 71,591 and Nifty gained 59 pts to 21,512.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, " Even as the holidays are fast approaching, the market is not in a holiday mood. It is consolidating, but at higher levels. The steady rise in the mother market US, which has helped the Dow to set a new record high, is exhibiting the same trend. The fact that the fear gauge - VIX - is at a low level of 12 is an indicator of the underlying strength of the market. Valuations in the mid and small cap segments are excessive. Chasing mid and small caps at these valuations is risky. Going forward, large-caps are likely to outperform."
Shares of Varun Beverages Ltd rose 17.79 per cent to hit a 52-week high of Rs 1,380.45 on BSE today. The company announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly owned subsidiaries at an enterprise value of Rs 1,320 crore.
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) fell up to 4% on Wednesday after the NBFC said it was planning to raise unsecured, redeemable, non-convertible, non-cumulative, taxable bonds amounting to Rs 500 crore. IREDA stock slipped 3.80% to Rs 108.15 on BSE today. The firm saw 18.36 lakh shares changing hands amounting to a turnover of Rs 20.41 crore.
Shares of Adani Green Energy rose over 2% after the firm said it incorporated a step down subsidiary company ARE59L for expansion of its renewable energy portfolio. Adani Green Energy shares zoomed 2.47% to Rs 1569 against the previous close of Rs 1531.10 on BSE. Market cap of Adani Green Energy rose to Rs 2.43 lakh crore. Total 0.19 lakh shares changed hands amounting to a turnover of Rs 2.98 crore.
Shares of India Shelter Finance Corporation made a strong market debut, listing at a 26% premium over the IPO issue price. India Shelter Finance stock listed at Rs 620 on NSE, a premium of 25.76% over the IPO issue price of Rs 493. The stock listed at a premium of 24.28% at Rs 612.70 on BSE. Market cap of the firm stood at Rs 6559.02 crore on BSE.
Shares of Oil India rose 19.14% to a 52-week high of Rs 406 on BSE. Market cap of Oil India rose to Rs 42,291 crore. Total 16.35 lakh shares changed hands amounting to a turnover of Rs 62.25 crore.
Shares of Kalyan Jewellers rose 7.51% to Rs 339 on BSE. Market cap of Kalyan Jewellers rose to Rs 34,712 crore. Total 1.56 lakh shares changed hands amounting to a turnover of Rs 5.15 crore.
Shares of Paytm rose nearly 2% to Rs 635.85 on BSE. Market cap of Paytm rose to Rs 40,098 crore. Total 42.68 lakh shares changed hands amounting to a high turnover of Rs 269.37 crore.
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