Benchmark indices were trading lower in early deals today. The 30-stock BSE Sensex fell 92 points to 65,387 and the NSE Nifty lost 17 points to 19,372
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The 15% surge in Nifty from the low levels of March has given a bullish flavour to this rally; but it is difficult to describe this as a bull market since valuations do not permit a sustained rally and the evolving economic fundamentals do not warrant continuation of the rally much beyond the current levels. A sustained bull run needs low valuations and steadily improving growth and earnings prospects. Valuations are not favourable now and growth and earnings prospects, though good, are not very bright
Shares of Suzlon Energy hit their 5% lower circuit limit in Wednesday's trade amid heavy turnover after the company said it would consider raising funds on Friday. On NSE, sell orders stood at 10,13,51,041 shares till 10 am. On BSE, there were sell orders of 2,22,93,956 Suzlon shares during the same period
Shares of multibagger HPL Electric & Power Ltd rose to a fresh 52-week high today, climbing 37% in two sessions on BSE. The rally in the stock came after the firm on July 4 said it received an order worth Rs 902 crore. n the current session, shares of HPL Electric zoomed 14% to Rs 177.20 on BSE. The stock has risen 387% in three years
Shares of YES Bank were trading higher after the private lender said its advances grew 7.5% in the June quarter. YES Bank said its loans and advances stood at Rs 2,00,308 crore at the end of June quarter against Rs 1,86,367 crore in the comparable period last year. YES Bank shares rose 1.6% to hit a high of Rs 17.09 on BSE. 4 Power Grid
Shares of One97 Communications Ltd (Paytm) rose nearly 2% to Rs 861.90 after the firm said its merchant payment volume (GMV) for June quarter jumped 37% YoY to Rs 4.05 lakh crore, adding that it disbursed loans worth Rs 14,845 crore through Paytm platform, up 167% YoY. Market cap of Paytm climbed to Rs 53,800 crore. A total of 1.13 lakh shares changed hands amounting to a turnover of Rs 9.67 crore
Shares of Bandhan Bank fell nearly 5% today amid a fall in the broader market. A total of 10.37 lakh shares changed hands amounting to a high turnover of Rs 23.06 crore. Market cap of the bank fell to Rs 35,575 crore
Shares of Brightcom Group slipped 5% to Rs 28.82 in early trade today. It opened lower at Rs 29.06 on BSE. Market cap of the firm slipped to Rs 5815.65 crore
Shares of Mangalore Refinery & Petrochemicals hit a fresh 52-week high of Rs 88.20, rising 11% in early trade today. It opened flat at Rs 79.01 against the previous close of Rs 79.23 on BSE. Market cap of the firm rose to Rs 15,351 crore
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