Produced by: Aseem Thapliyal
The domestic equity market was trading lower in the afternoon session today. Sensex fell 212 points to 79,712 and Nifty lost 55 pts to 24,268.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “Investors should be prepared to absorb corrections and it is important to understand that corrections can happen at unexpected times. A significant trend in the market is the continuous churns in the market. The latest churn is in favour of pharmaceuticals. Another important trend is that the market is favouring premium consumption themes like hotels and select segments of the auto space.”
RVNL shares hit a record high of Rs 643.95 in early deals today, rising 5.47% on BSE. Total 30.53 lakh shares of RVNL changed hands amounting to the highest turnover of Rs 189.78 crore. Market cap of RVNL climbed to Rs 1.28 lakh crore on BSE. RVNL shares have a one-year beta of 1.4, indicating high volatility during the period.
Shares of Tata Elxsi tumbled 2.65 per cent to Rs 6,930.45 on Thursday post Q1 earnings. Market capitalization was slightly above Rs 43,500 crore. The stock had settled at Rs 7,118.80 in the previous trading session on Wednesday
YES Bank shares climbed over 8 per cent after the ratings agency Moody’s upped its rating outlook on the private lender to positive on expectations a gradual improvement in YES Bank’s depositor base and lending franchise will help improve its core profitability over the next 12-18 months.YES Bank shares rose 8.45 per cent to hit a high of Rs 27.08 on BSE.
Shares of Raymond crashed 40 per cent on Thursday as the stock turned ex-date for the demerger of lifestyle business of the company. The stock was trading at a value, excluding the lifestyle business. The Raymond stock opened at Rs 1,906 on NSE, down 39.60 per cent over its previous day’s closing value of Rs 3,156.10.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) rose 2% to Rs 1041.50 after the Indian Railways, Delhi Metro Rail Corporation (DMRC) and Centre For Railway Information Systems (CRIS) collaborated to promote the ‘One India – One Ticket’ initiative. Market cap of the firm stood at Rs 82,656 crore.
Shares of Britannia Industries rose to their 52 week high of Rs 5816.70. Market cap of the firm stood at Rs 1.38 lakh crore.
Shares of Federal Bank rose to their 52 week high of Rs 191.15. Market cap of the bank rose to Rs 46,735 crore.
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