Produced by: Aseem Thapliyal
The domestic equity market was trading lower in the afternoon session today. Sensex lost 56 points to 79,940 and Nifty fell 34 pts to 24,289.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "The market will respond to the Q1 results which will start flowing from this week onwards. Financials have the potential to move up further in response to the expected good results. IT is showing signs of improvement. Autos will continue to show improved results. The FMCG segment which has been languishing with low volume growth is showing signs of mild recovery. Watch out for this segment."
Shares of Patel Engineering fell 12.11% to Rs 60.67 on Monday after the company announced a change in its directorate and management after the demise of its promoter and chairman on Friday. The stock settled at Rs 69.03 in the previous trading session on Friday. "We regret to inform you of the sudden and untimely demise of Rupen Patel, the promoter/Chairman and Managing Director of the company in the late hours of Friday, July 5, 2024, " said the exchange filing.
Shares of Cochin Shipyard rose 5% to a record high for the fifth straight session amid a correction in the broader market today. Cochin Shipyard stock hit the upper circuit of 5% at Rs 2977.10 on BSE. Market cap of the defence stock stood at Rs 73,414 crore. However, the stock fell 3% to Rs 2,750 in the afternoon session.
Shares of Man Industries rose to their record high today after the iron and steel products maker said it received an order win worth Rs 1,850 crore. .. has received a prestigious line pipe order of approximately Rs 1,850 crore which is the largest single order in the company’s history," Man Industries said. In reaction, Man Industries shares gained 10.69% to Rs 513 against the previous close of Rs 463.45 on BSE.
Shares of Adani Wilmar rose over 4% in early deals today after the Adani Group firm announced its business updates for the first quarter. Adani Wilmar stock rose 4.38% to Rs 347.50 against the previous close of Rs 332.90 on BSE. Market cap of the firm stood at Rs 44,384 crore. Total 2.79 lakh shares changed hands amounting to a turnover of Rs 9.54 crore on BSE.
Shares of Rail Vikas Nigam Ltd (RVNL) zoomed over 15% in early deals amid buzz that 1.06 million shares of RVNL changed hands in a block deal today. The railway stock rose 15.49% to hit a record high of Rs 567.60 today. Market cap of RVNL rose to Rs 1.16 lakh crore on BSE. RVNL shares have a one-year beta of 1.5, indicating high volatility during the period.
Shares of Delta Corp zoomed 10% in the afternoon session ahead of the firm's Q1 earnings set to be announced on July 9. Market cap of Delta Corp climbed to Rs 3929.54 crore on BSE. Total 3.86 lakh shares changed hands amounting to a turnover of Rs 5.45 crore on BSE.
Shares of Paytm listed as One97 Communications rose nearly 10% to Rs 479.70 in the afternoon session today. Market cap of the firm rose to Rs 30,161 crore. Total 13.59 lakh shares of Paytm changed hands amounting to a turnover of Rs 63.60 crore.
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