Hot stocks on July 13, 2023: Federal Bank, TCS, Patanjali Foods, Brightcom Group and more

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Indices hit record high

Benchmark indices hit record highs in early deals today. Sensex zoomed 637 pts to 66,031 and Nifty added 178 pts to 19,562 [{ "selector": ".oqrel-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 447px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".eciam-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Inflation data to show direction to market

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, that the ongoing global rally in stock markets will get a further mild boost from the latest US consumer inflation for June which has come at 3%. “In India, though the June CPI inflation has increased to 4.81%, this was expected since the prices of vegetables and milk had spiked. The positive number is the May IIP at 5.2%, which indicates that the growth momentum in the economy is robust.” [{ "selector": ".nigja-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 340px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".feimj-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Anand Rathi Wealth

Shares of Anand Rathi Wealth surged about 17% during the early trading session on Thursday to their new record high after the company reported a strong performance for the quarter ended on June 2023. The stock surged 17% to Rs 1,089 on Thursday, hitting its new lifetime high levels [{ "selector": ".pnbzx-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 390px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".kjjei-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Patanjali Foods

Shares of Patanjali Foods hit a 5% lower circuit limit in Thursday's trade after promoter Patanjali Ayurved kicked off two-day offer for sale (OFS) at a floor price of Rs 1,000, which was at 18% discount to Wednesday's closing price of Rs 1,225 on BSE [{ "selector": ".rwxdq-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 390px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".agczg-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

SpiceJet

Airline SpiceJet said its promoter Ajay Singh has decided to infuse Rs 500 crore into SpiceJet by way of subscribing fresh equity shares and/or convertible instruments. The stock rose 5% to Rs 33.50 on BSE [{ "selector": ".rjglb-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 390px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".zmikm-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Vedanta

Shares of Vedanta were trading flat after chairman Anil Agarwal said Vedanta has lined up partners for semiconductor ventures. The stock was trading flat at Rs 279.80 on BSE [{ "selector": ".kktan-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 390px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".lfglk-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Federal Bank

Shares of Federal Bank plunged over 4% ahead of the lender’s Q1 earnings set to be announced today. Federal Bank stock was trading 4.14% lower at Rs 128.65 against the previous close of Rs 134.20 on BSE [{ "selector": ".lzqqe-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 390px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".rlmtq-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Brightcom Group

Brightcom Group stock fell over 4% to Rs 25.08 in early deals. Market cap of Brightcom Group slipped to Rs 5,087 crore. A total of 25.15 lakh shares changed hands amounting to a turnover of Rs 6.44 crore [{ "selector": ".fikcx-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 419px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".pxfss-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

TCS

TCS shares rose over 3% to Rs 3,359 today after the IT major reported a 17% rise in net profit to Rs 11,074 crore for the quarter ended June. The stock was the top Sensex gainer today [{ "selector": ".jalqt-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 419px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".fbmsd-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

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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 [{ "selector": ".bldnb-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 410px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".lwfzd-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

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