Produced by: Aseem Thapliyal
The domestic equity market was trading higher on Monday. Sensex rose 192 points to 72,619 and Nifty added 88 pts to 22,129.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Investors should be careful while chasing many mid and small caps which are rising sharply without fundamental justification. Many of these stocks have very low floating stock and, therefore, can easily be manipulated by a cartel of operators. In the long run only stocks with strong fundamentals will give steady and good returns.”
Shares of Rail Vikas Nigam Ltd (RVNL) zoomed 12% today after state-run firm said its order book has reached Rs 65,000 crore, 50 per cent of which are railway projects. RVNL shares climbed 11.86% to an intraday high of Rs 281.45 on BSE. Total 18.86 lakh shares of RVNL changed hands amounting to a turnover of Rs 51.21 crore.
Shares of Paisalo Digital zoomed over 15% in early trade today as the board will consider issuance of non-convertible debt securities on a private placement basis. The firm saw a turnover of Rs 9.38 crore. The stock rose 15% to a 52 week high of Rs 164.40 on BSE. Market cap of the firm rose to Rs 7355 crore.
Shares of IRFC surged over 4% to Rs 164.40 on BSE. Market cap of IRFC rose to Rs 2.11 lakh crore. A total of 49.67 lakh shares of the firm changed hands amounting to a turnover of Rs 79.92 crore on BSE.
Shares of Sula Vineyards slipped nearly 7% to Rs 571.35 on BSE. Market cap of the firm fell to Rs 4869.86 crore. The stock fell amid reports of 1.2 crore shares changing hands in a deal worth Rs 700 crore.
Shares of Data Patterns zoomed 7.03% to Rs 2160 in early deals. The firm saw a turnover of Rs 12.03 crore. Market cap of the firm climbed to Rs 11,991 crore.
Shares of MRPL rose 19% to a record high of Rs 286.70 level on BSE today. Market cap of the firm rose to Rs 49,458 crore. A total of 16.44 lakh shares of the firm changed hands amounting to a high turnover of Rs 44.74 crore on BSE.
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