Produced by: Aseem Thapliyal
The domestic equity market was trading lower in the afternoon session. Sensex lost 194 points to 77,284 and Nifty fell 28 pts to 23,548.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The market is in a consolidation phase, and this is likely to continue. There are no major triggers for aggressive buying or selling. Even in this consolidation phase, the undertone of the market is bullish and, therefore, buying on dips will emerge imparting resilience to the market. Strong up moves will attract profit booking and, therefore, sustained rally would be difficult.”
Tata Power shares were trading flat even as CareEdge Ratings upgraded the Tata Group’s firm ratings. The ratings have been changed to ‘CARE AA+, Stable’ from ‘CARE AA, Positive’. Tata Power shares were trading flat at Rs 440.70 against the previous close of Rs 443.55 on BSE. Market cap of Tata Power stood at Rs 1.40 lakh crore on BSE. A total of 1.25 lakh shares of the firm changed hands amounting to a turnover of Rs 5.54 crore.
Shares of Time Technoplast hit their record high on Friday after the plastics products firm said the firm has received final approval from Petroleum and Explosives Safety Organization (PESO) for the manufacturing and supply of high-pressure type-IV composite cylinders for hydrogen. Time Technoplast stock rose 18% to a record high of Rs 350.50 on BSE. Market cap of the firm stood at Rs 7842 crore. Total 3.94 lakh shares changed hands amounting to a turnover of Rs 13.12 crore on BSE.
Railtel stock saw a high turnover of Rs 57.79 crore with 12.27 lakh shares changing hands in the afternoon session. Market cap of the firm stood at Rs 15,563 crore. The stock rose over 12% to Rs 490 on BSE.
Shares of Raymond hit a record high of Rs 2694.95, rising 12% against the previous close of Rs 2405.50. Market cap of the firm stood at Rs 17,151 crore. Total 0.41 lakh shares changed hands amounting to a turnover of Rs 10.61 crore on BSE.
Shares of JSW Energy hit a record high of Rs 716 in the afternoon session. The stock saw a turnover of Rs 2.99 crore with 0.42 lakh shares changing hands in the afternoon session. Market cap of the firm stood at Rs 1.24 lakh crore.
Shares of MapMyIndia rose to their record high for the second straight session after international brokerage Goldman Sachs initiated coverage on the stock with a buy call. It has assigned a price target of Rs 2,800. The stock rose to Rs 2,745, a fresh high. Market cap of the software products firm rose to Rs 13,489 crore on BSE.
Shares of Federal Bank hit their record high today. The banking stock gained marginally to a high of Rs 179.80 against the previous close of Rs 178.90 in early deals. A total of 2.07 lakh shares changed hands amounting to a turnover of Rs 4.21 crore on BSE. Market cap of the bank climbed to Rs 43,339 crore.
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