Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 402 points to 79,077 and Nifty gained 116 pts to 23,985.
“The market will remain bullish in the near-term despite the valuation concerns, and the ongoing momentum has the potential to take the Sensex to 80000 levels. A healthy trend in the market is that now the up move is being led by fundamentally strong largecaps in sectors like banking and telecom. With RIL, which had not participated in the rally till Tuesday joining the bull bandwagon, the rally has the strength to continue. But the rise in U.S. bond yield might perhaps trigger some large FII selling in the coming days putting brakes on the rally,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Reliance Industries shares hit an all-time high of Rs 3072.60, rising 1.13% against the previous close of Rs 3027.40 on BSE. Total 1.50 lakh shares of the firm changed hands amounting to a turnover of Rs 45.58 crore on BSE. Market cap of the conglomerate rose to Rs 20.73 lakh crore.
Shares of KEC International rose 9% on Thursday after the firm secured new orders worth Rs 1,025 crore in T&D and cables businesses. KEC International shares gained 9% to Rs 941 against the previous close of Rs 862.95 on BSE. Market cap of the firm climbed to Rs 23,348 crore.
Shares of Texmaco Rail & Engineering Ltd jumped 11.15 per cent to hit an all-time high of Rs 245.70. At this price, the scrip has gained 38.37 per cent on a year-to-date (YTD) basis. Turnover on the counter came at Rs 23.56 crore, commanding a market capitalisation (m-cap) of Rs 9,549.27 crore.
Shares of India Cements hit a fresh 52 week high amid reports that UltraTech Cement would buy around 23% stake in India Cements. India Cements stock rose 14% to a 52 week high of Rs 299 on BSE. Market cap of the firm rose to Rs 9093 crore.
Shares of multibagger Titagarh Rail Systems rose 7% to a record high of Rs 1890.05 on Thursday. Market cap of the firm rose to Rs 24,754 crore. Total 1.98 lakh shares of the firm changed hands amounting to a turnover of Rs 36.41 crore.
Shares of state-run Rail Vikas Nigam Ltd (RVNL) rose 3% to Rs 420.70 after the firm said it has received a Letter of Acceptance from Southern Railway for automatic signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on B-Route of Thiruvananthapuram Division in Southern Railway. Total 6.31 lakh shares of RVNL changed hands amounting to a turnover of Rs 26.21 crore. Market cap of RVNL rose to Rs 86,111 crore on BSE.
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