Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading higher on Monday. Sensex rose 1125 points to 71,826 and Nifty gained 354 pts to 21,706.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Two important events are due this week: the interim Budget and the Fed meeting on rate decision. But these events are unlikely to impact the market in a big way. The Budget will be a vote on account without major announcements capable of impacting the market. Regarding the Fed decision, no rate cut is expected, but the commentary will be keenly watched. The turbulence in the Red Sea is turning out to be a serious issue. Brent crude has spiked to $83."
Shares of Shriram Finance Ltd hit a record high in early trade today after the NBFC reported a net profit of Rs 1818.3 crore for the December 2023 quarter against a profit of Rs 1777 crore year-on-year (YoY) basis. Shriram Finance stock gained 6.18% to Rs 2448.85 against the previous close of Rs 2306.15 on BSE. Market cap of Shriram Finance rose to Rs 88,890 crore.
Shares of Infibeam Avenues rose over 19% to their 52 week high of Rs 34.90 on BSE today. The stock was the top gainer on BSE. A total of 195.20 lakh shares of the firm changed hands amounting to a turnover of Rs 65.44 crore on BSE. Market cap of the fintech firm climbed to Rs 9,593 crore.
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) hit record high in early trade today. The stock opened 4.83% higher at Rs 178 on BSE. It touched a record high of Rs 178.25 on BSE. The stock was stuck in the upper circuit of 5%. Market cap of the firm climbed to Rs 47,909 crore. IREDA saw 6.80 lakh shares changing hands amounting to a turnover of Rs 12.09 crore on BSE.
Shares of IRB Infrastructure Developers rose 14% to their 52-week high of Rs 58.21 on BSE today. The stock was among the top gainers on BSE. A total of 78.51 lakh shares of the firm changed hands amounting to a turnover of Rs 44.37 crore on BSE. Market cap of the infra firm climbed to Rs 34,621 crore.
Shares of SJVN rose 14% to their 52-week high of Rs 134.36 on BSE today. The stock was among the top gainers on BSE. A total of 111.32 lakh shares of the firm changed hands amounting to a turnover of Rs 143.11 crore on BSE. The company has secured full quoted capacity of 100 MW solar power project through eReverse Auction conducted by Gujarat Urja Vikas Nigam (GUVNL).
Shares of SBI Cards and Payment Services slipped 6% to Rs 710.10 on BSE today post Q3 earnings. The stock was among the top losers on BSE. A total of 3.81 lakh shares of the firm changed hands amounting to a turnover of Rs 27.34 crore on BSE. The firm logged a 7.8 percent year-on-year growth in profit at Rs 549 crore in the last quarter, partly affected by higher impairment on financial instruments.
Shares of IRFC slipped nearly 2% to Rs 171.09 on BSE today. A total of 120.77 lakh shares of the firm changed hands amounting to a high turnover of Rs 207.72 crore on BSE. Market cap of IRFC fell to Rs 2.23 lakh crore.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position