Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading higher on Tuesday. Sensex rose 650 points to 72,005 and Nifty gained 203 pts to 21,715.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Long positions are steadily declining and short positions are building up. This short build up is on bearish expectations that the present high valuations are difficult to sustain and some triggers may lead to sharp corrections. This expectation need not be realised since global cues have again turned positive on a rally in the US market. Domestic cues are looking good. Buy on dips strategy may work again leading to some short covering."
Shares of Capacite Infraprojects Ltd hit their 52-week high today after the civil construction firm launched a qualified institutional placement (QIP) to raise up to Rs 200 crore. Shares of the building construction company rose 5.62% intraday to a high of Rs 290.95 against the previous close of Rs 275.45. Market cap of the firm rose to Rs 2079.44 crore on BSE.
Shares of IRB Infrastructure Developers Ltd zoomed to their record high after the company reported a 26% rise in toll collections for December 2023. IRB Infrastructure stock climbed 12.07% to a high of Rs 47.24 on BSE. The stock opened higher at Rs 43.50 today against the previous close of Rs 42.15. However, the stock has zoomed 305% in the last three years, delivering multibagger returns for shareholders.
Shares of Bajaj Auto rose 6 per cent after the company's board announced its Rs 4,000 crore share buyback plan. The stock rose 6.21 per cent to hit a high of Rs 7,420, as the buyback price at Rs 10,000 crore was at 43.14 per cent premium to the stock's Monday's closing price of Rs 6,985.70. The share buyback, Bajaj Auto said, would be carried through the tender offer route and on a proportionate basis.
Shares of Larsen & Toubro (L&T) rose 2.25 per cent to hit their one-year high of Rs 3,579. The company said its construction arm (L&T Construction) has secured a 'significant' order from HITES (A Mini Ratna PSU) under the Ministry of Health and Family Welfare. Market cap of the firm rose to Rs 4.91 lakh crore on BSE.
Shares of Zee Entertainment Enterprises reportedly saw a large trade, with 1.35 crore shares or 1.4 per cent of the equity worth Rs 340 crore changing hands on the counter amid reports Sony was mulling to call off the proposed merger due to delays. As per a CNBC TV18 report, the large trade took place at an average price of Rs 252 per share. The stock tanked 12.66 per cent to hit a low of Rs 242.30.
Shares of YES Bank hit a fresh 52 week high today. The stock rose to a high of Rs 24.99 today. Earlier, the stock opened higher at Rs 24.44 on BSE. Total 634.96 lakh shares of the bank changed hands amounting to a high turnover of Rs 155.84 crore on BSE. Market cap of the bank rose to Rs 71,414 crore.
Shares of Alok Textiles rose 10% to Rs 39.24 on BSE. The stock was among the top BSE gainers today. Market capitalization of the firm rose to Rs 18,545 crore crore. Total 342.62 lakh shares of the firm changed hands amounting to a turnover of Rs 130.12 crore on BSE.
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