Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session. Sensex gained 128 points to 77,429 and Nifty was flat at 23,543.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “Higher highs and higher lows are clear indicators of a strong bull rally. This is happening now in the Nifty which has set four days of record highs. Net institutional activity has turned positive with both FIIs and DIIs turning buyers. Economic news continues to be positive. Net direct tax collections have shot up by 21%. More importantly, advance tax collections have increased impressively by 27.38 % reflecting robust economic activity. In brief, it is advantage bulls."
Shares of Prestige Estates slipped over 5% in early deals on Wednesday after the realty firm said it plans to raise capital via qualified institutions placements (QIP), preferential issue, rights issue, private placement or any other form. The real estate stock fell 5.10% to Rs 1836.35 today against the previous close of Rs 1935.15 on BSE.
Shares of JSW Steel hit their record high today. The metal sector stock gained 1.31% to a record of Rs 937.20 against the previous close of Rs 925 in early deals. A total of 0.35 lakh shares of the firm changed hands amounting to a turnover of Rs 3.23 crore on BSE. Market cap of the firm climbed to Rs 2.25 lakh crore.
Shares of Craftsman Automation gained 4% to Rs 4970.35 today. A total of 0.13 lakh shares of the firm changed hands amounting to a turnover of Rs 6.41 crore on BSE. Market cap of the firm climbed to Rs 10,458 crore. The company’s board has approved raising of funds via equity shares for an aggregate amount not exceeding Rs 1,200 crore through the qualified institutional placement (QIP) route.
Shares of Delta Corp rose 17% to Rs 154.95 in the afternoon session today. The stock was the top gainer on BSE. Market cap of the firm rose to Rs 4083 crore. Turnover stood at Rs 31.02 crore with 20.84 lakh shares changing hands on BSE.
Cochin Shipyard stock rose to a record high of Rs 2427.75 on BSE today. Market cap of the firm rose to Rs 59,753 crore. Turnover was high at Rs 126.31 crore as 5.53 lakh shares changed hands in the afternoon session.
Shares of Tata Motors rose nearly a percent to Rs 994.90 after the Tata group firm said its arm JLR and China's Chery have signed a letter of intent to license the Freelander brand to CJLR -- a 50:50 joint venture between Jaguar Land Rover and Chery Automobile Company, for creation of electric vehicles in China. Market cap of the firm climbed to Rs 3.26 lakh crore
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