Produced by: Aseem Thapliyal
The domestic equity market was trading lower in the afternoon session today. Sensex tanked 494 points to 80, 849 and Nifty slipped 173 pts to 24,627.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “A distinct trend in the market now is the underperformance of the overvalued broader market and the outperformance of the fairly valued largecap space. This augurs well for the continuation of the rally without the market getting overheated. The downtrend in the overvalued PSU segments like defence and railways may persist.”
Shares of VST Industries rose 17.54% to Rs 4850 in the afwtrnoon session. Market cap of the firm rose to Rs 7350 crore. Total 0.22 lakh shares of the firm changed hands amounting to a turnover of Rs 10.38 crore.
Shares of Persistent Systems slipped 7.21% to Rs 4539.95 after the IT firm reported a 33.9% rise in net profit for the June 2024 quarter. Net profit climbed to Rs 306.41 crore in the June quarter against Rs 228.76 crore a year ago. Market cap of the firm fell to Rs 70,938 crore on BSE.
Shares of Premier Explosives hit the lower circuit of 5% today after the firm reported a 11.34% fall in net profit for the June 2024 quarter. Premier Explosives’ net profit slipped to Rs 7.31 crore in the June 2024 quarter against Rs 8.25 crore in the June 2023 quarter. The multibagger stock fell 5% to Rs 643.55 against the previous close of Rs 677.40 on BSE.
Shares of Infosys gained 4.76% to a record high of Rs 1843 post Q1 earnings. Total 11.71 lakh shares of Infosys changed hands amounting to the turnover of Rs 212.07 crore. Market cap of Infosys climbed to Rs 7.54 lakh crore on BSE.
Shares of Rallis India slipped 7% to Rs 317.25 on BSE after the firm reported a 23.80 per cent year-on-year (YoY) fall in profit after tax (PAT) to Rs 48 crore in Q1 compared to Rs 63 crore in the same period last fiscal year.
Shares of IREDA rose 5% to a high of Rs 274.80 on BSE. Total 115.77 lakh shares of IREDA changed hands amounting to the highest turnover of Rs 310.18 crore. Market cap of IREDA climbed to Rs 72,596 crore on BSE.
Shares of RVNL rose over 3% to a high of Rs 608.60 on BSE. Total 40.33 lakh shares of RVNL changed hands amounting to a turnover of Rs 239.04 crore. Market cap of RVNL climbed to Rs 1.25 lakh crore.
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