Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading higher on Monday. Sensex rose 619 points to 73,187 and Nifty gained 161 pts to 22,056.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The rally in the market, primarily driven by momentum, is now getting support from fundamentals. The sharp bounce in large cap IT stocks on the back of slightly positive management commentary indicates that an underperforming segment can surprise on the upside on news of a turnaround in the sector. The IT index which shot up by 5% on Friday will remain firm since HCL Tech and Wipro have more room on the upside. Nifty has broken out on the upside from the consolidation range and shows signs of further up move.”
Shares of IRFC hit their record high climbing 18% to a high of Rs 134.50 against the previous close of Rs 113.38 on BSE. The railway stock opened higher at Rs 116.20. Total 251.68 lakh shares of the firm changed hands amounting to a turnover of Rs 320.50 crore on BSE. Market cap of IRFC rose to Rs 1.74 lakh crore.
Shares of RVNL hit their record high of 230.50 against the previous close of Rs 203.10 on BSE. The railway stock opened higher at Rs 204.70. Total 51.91 lakh shares of the firm changed hands amounting to a turnover of Rs 114.47 crore on BSE. Market cap of RVNL rose to Rs 47,382 crore.
Shares of Titagarh Rail Systems Ltd rose over 3% in afternoon session after the firm said it has launched the first indigenous 25T Bollard Pull Tug built at its facility in Titagarh, Barrackpore, for the Indian Navy. The 25T Bollard Pull Tug was launched at 4:00 AM at the Shipyard in Titagarh, West Bengal, in alignment with the odes that facilitate deployment of the Tug in the water.
Shares of search engine provider Just Dial hit their 52-week high after the firm reported its earnings for the quarter ended December 2023. Just Dial shares hit a record high of Rs 945.80, rising 8.5% in early deals today against the previous close of Rs 871.65 on BSE. Market cap of the firm rose to Rs 7667 crore on BSE.
Shares of multibagger Sinclairs Hotels hit their record high in early trade today after the company announced record date for its bonus issue. The hotel player fixed January 29 as the record date for the purpose of ascertaining the eligibility of shareholders for the issuance of fully paid-up bonus shares. The issue of bonus shares will be done in a ratio of 1:1. The stock touched its record high of Rs 260, rising 7.10% in early trade on BSE.
Shares of Wipro hit their 52 week high of Rs 526.45 after the firm announced its Q3 earnings. Wipro’s market cap rose to Rs 2.59 lakh crore. The IT firm reported a 11.90 per cent year-on-year (YoY) fall in consolidated net profit at Rs 2,700 crore compared with Rs 3,065 crore in the same quarter last year. The profit degrowth was in line with analyst estimates.
Shares of Jio Financial Services rose 4% ahead of the firm’s December quarter earnings set to be announced today. Market cap rose to Rs 1.68 lakh crore.
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