Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market hit record high in early trade after BJP grabbed power in three states. Sensex rose 973 points to 68,454 and Nifty added 308 points to settle at 20,576.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial said, "The state elections results have turned out to be a big event which can trigger renewed optimism and further rally in the market. Market likes political stability and a reform-oriented, market-friendly government. From the market perspective, the results were better-than-expected. The market has already partly discounted a BJP victory with a 500 point rally during the last 4 sessions. But the mood is so exuberant that the rally will continue. The global backdrop also is favourable with the US 10-year bond yield declining to 4.23%. An across the board rally in stocks is in the offing."
Shares of multibagger Avantel gained over 5% in early trade today after the firm said the firm received a provisional purchase order worth Rs 67.92 crore from NewSpace India Limited. Avantel shares opened higher at Rs 127 against the previous close of Rs 123.10 on BSE. It hit an intraday high of Rs 130, 5.60% higher on BSE.
Shares of KPI Green Energy rallied over 4% in early deals today after the firm said its arm Sun Drops Energia Private Limited won new orders of 4.40 MW for executing solar power projects received under ‘Captive Power Producer (CPP)’ segment of the company. KPI Green Energy stock gained 4.58% to Rs 1205 on BSE. The power stock opened higher at Rs 1200.15 against the previous close of Rs 1152.20.
Shares of Suzlon Energy Ltd rose over 4% in early trade today as the green energy firm will be included in the S&P BSE Power index. Suzlon Energy stock opened at Rs 41.05 today, higher than the previous close of Rs 39.42 on BSE. Suzlon Energy shares gained 4.5% to Rs 53,622 crore on BSE. Total 20.01 lakh shares of Suzlon Energy changed hands amounting to a turnover of Rs 8.12 crore on BSE. Suzlon Energy’s market cap rose to Rs 54,273 crore.
Shares of Delta Corp rose fell over 4% today. Delta Corp shares slipped to Rs 139.45 against the previous close of Rs 146 on BSE. Market cap of the firm fell to Rs 3754.15 crore in Monday's session. Total 14.53 lakh shares changed hands amounting to a high turnover of Rs 20.53 crore on BSE.
Adani Green shares zoomed 15% in early trade today amid a strong rally in the broader market. Adani Green stock climbed 15% to Rs 1178 against the previous close of Rs 1026.55 on BSE. Market cap of the firm climbed to Rs 1.74 lakh crore on BSE. Total 5.16 lakh shares of the firm changed hands amounting to a turnover of Rs 57.85 crore on BSE.
Shares of Tata Power hit a fresh high today after the Tata Group firm said that it has won a bid to acquire Bikaner-III Neemrana-II Transmission renewable energy project for about Rs 1,544 crore. Tata Power stock hit a 52 week high of Rs 286, rising 3.72% in the morning session. Total 7.76 lakh shares of the firm changed hands amounting to a turnover of Rs 21.88 crore on BSE. Market cap of the firm rose to Rs 89,789 crore.
Shares of Adani Ports and Special Economic Zone Ltd (APSEZ) zoomed 6.70% today after the firm said it has recorded strong cargo volumes of around 36 MMT in the month of Novermber 2023, up 42 per cent year-on-year. Adani Ports stock climbed 6.7% to Rs 883 against the previous close of Rs 827.55 on BSE. Market cap of the firm climbed to Rs 1.88 lakh crore on BSE. Total 2.94 lakh shares of the firm changed hands amounting to a turnover of Rs 25.52 crore on BSE.
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