Benchmark indices rose in early deals today. Sensex gained 170 pts to 65,450 and Nifty added 39 pts to 19,371
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “After the recent surge that took the benchmark indices to new highs, the market is likely to move into a consolidation mode. The latest US non-farm jobs data shows that the labour market is cooling off. But since core inflation remains sticky around 5%, the Fed is likely to raise rates by 25 bps on 26 July. Anticipating this, bond yields have moved up with the 10-year yield above 4%. This macro construct will restrain the ongoing rally in the mother market and this will have its impact on the Indian market too.”
Shares of ideaForge Technology crashed 10% in early deals as investors booked profits on concerns over high valuations post-stock listing. It fell 10% to Rs 1171.10 against the previous close of Rs 1295.50 on BSE. The stock rallied 93% on its listing in the last session
Shares of Cyient DLM made a strong debut on Dalal Street on Monday as the company got listed at Rs 403, a premium of 52% against its issue price of Rs 265 apiece on the National Stock Exchange (NSE). Similarly, the stock was listed at a premium of 51% at Rs 401 on the BSE
Shares of Reliance Industries rose nearly 4% in early deals today. The stock climbed 3.64% to Rs 2,731.50 on BSE. A total of 4.34 lakh shares changed hands amounting to a turnover of Rs 117.68 crore. Market cap of Reliance Industries rose to Rs 18.46 lakh crore
Shares of Suzlon Energy fell over 3% to Rs 17.20 despite the wind energy firm’s board approving raising funds up to Rs 2,000 crore last week. Market cap of the firm declined to Rs 21,511 crore
Shares of Tata Motors gained nearly 2% to a fresh record high of Rs 632.55 on BSE. Market cap of Tata Motors rose to Rs 2.08 lakh crore. A total of 7.93 lakh shares changed hands amounting to a turnover of Rs 49.68 crore
Shares of Remsons Industries rose over 5% in early deals as the rating committee of ICRA assigned the credit rating for Rs 76.82 crore of the company's bank facilities as under: A. Long Term Rating of (ICRA) BBB- (pronounced ICRA Triple B Minus). Outlook on the long term rating is "Stable". B. Short Term Rating of (ICRA) A3 (pronounced ICRA A Three). Market cap of the firm rose to Rs 143.12 crore
Shares of IIFL Finance gained 3% to Rs 523.35 on BSE after the firm said it has been re-categorised as midcap from smallcap in terms of the market cap classification list released by the Association of Mutual Funds in India (AMFI) on July 6, 2023. Mcap of the firm rose to Rs 19,778 crore
Shares of RailTel fell over 1% to Rs 130.40 in early trade today. The fall comes despite the firm announcing a final dividend at the rate of 10.5% of paid-up share capital (Rs 1.05/- per share) for the financial year 2022-23. This final dividend is in addition to interim dividend of Rs 1.50 per share already paid by the company for the financial year 2022-23
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