Benchmark indices were trading in the green today. The 30-share Sensex rose 140 points to 66,300 and Nifty gained 41 points to 19,687
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Market expectation of soft landing for the US economy is driving the mother market US, and with its support, global markets. India’s strong performance is aided also by the superior performance of the Indian economy. Incoming data suggests that these fundamental supports to the markets are set to continue. In India, even though the underlying strength of the market is strong, FPI selling of Rs 5,000 crores during the last two trading sessions might restrain the bulls.”
Shares of Gland Pharma Ltd rose nearly 8% today after the USFDA issued a zero-observation certificate to the company for its Visakhapatnam facility. Gland Pharma shares hit an intraday high of Rs 1,393.45, rising 7.68% against the previous close of Rs 1,294 on BSE
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NTPC shares rose 3% to Rs 216.65 in early trade after the state-owned power producer posted over 23% rise in consolidated net profit at Rs 4,907.13 crore for June quarter against net profit of Rs 3,977.77 crore. Total revenue from operations fell slightly to Rs 43,390.02 crore from Rs 43,560.72 crore in the same period a year ago
Shares of Piramal Enterprises fell 8% to Rs 986 following the announcement of share buyback and the release of June quarter results. The board of Piramal Enterprises approved a share buyback of up to 1,40,00,000 shares of face value Rs 10 each for an aggregate amount not exceeding Rs 1,750 crore. Piramal Enterprises set the buyback price at Rs 1,250, which was at a 16.51% premium over Friday's closing price of Rs 1,072.80 for the stock
Shares of Power Mech Projects rallied 20% to Rs 5062 on BSE after it along with a partner won an order with an estimated value of Rs 30,438 crore worth from Steel Authority of India Limited (SAIL). The order will be executed via a special purpose vehicle (SPV), where the Power Mech Projects would hold 74% stake
Shares of Adani Green Energy zoomed 4.22% to Rs 1,137.85 on BSE ahead of the Adani Group firm’s June quarter earnings set to be announced today. Market cap of the firm rose to Rs 1.76 lakh crore. Total 0.44 lakh shares changed hands amounting to a turnover of Rs 1.76 lakh crore
Shares of Maruti Suzuki were trading flat at Rs 9,700 on BSE ahead of the car maker’s June quarter earnings set to be announced today. Market cap of the firm rose to Rs 2.92 lakh crore. Total 2l812 shares changed hands amounting to a turnover of Rs 2.72 crore
Shares of IRFC gained 5.5% to Rs 37.38 on BSE. A total of 85.07 lakh shares changed hands amounting to a turnover of Rs 31.02 crore on BSE. Market cap of the railway firm rose to Rs 48,065 crore
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