Benchmarks indices rose in early deals on Friday amid positive global cues. Sensex climbed 112 points to trade at 62,960 and Nifty gained 34 points to 18,668. Mid- and small-cap shares were positive as Nifty Midcap 100 index inched 0.16% higher and the small-cap 100 index was up 0.15%
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The expected pause decision of the MPC came laced with an unexpected slightly hawkish message on inflation and the market reacted negatively to it. However, it is important to appreciate the fact that the MPC is playing it safe by trying to anchor inflation expectations. The most important factor determining the trajectory of inflation, going forward, will be the monsoon. If the monsoon is normal food inflation will remain under control, facilitating a rate cut by December 2023. Therefore, the progress of the monsoon should be keenly watched.”
Shares of Hindustan Aeronautics (HAL) surged 3% fresh record high as the company announced that its board of directors will meet on June 27 to consider the proposal of stock split. Hindustan Aeronautics surged 3% to Rs 3,630 on BSE. The company topped market capitalisation of Rs 1.2 lakh crore during the session. The stock had ended at Rs 3,527.70 on Thursday
Shares of Indian Energy Exchange Ltd (IEX) slipped 10% in early trade after the power ministry directed Central Electricity Regulatory Commission (CERC) to implement the process of market coupling in a timely manner. IEX stock hit a 52-week low of Rs 122.85, down 10% against the previous close of Rs 136.50 on BSE. Market cap of the firm fell to Rs 11,040 crore
Shares of Suzlon Energy resumed their rally after a single-day fall in early trade today. The stock gained 3.81% to Rs 13.89 against the previous close of Rs 13.38 on BSE. Market cap of the firm rose to Rs 16,770 crore. Suzlon Energy shares on Thursday fell 7.08% to close at Rs 13.38
IndusInd Bank shares hit a fresh 52-week high after Morgan Stanley raised its target price by Rs 200 to Rs 1,725 per share. The stock rose 2.52% to Rs 1336.25 today. Market cap of the bank climbed to Rs 1.03 lakh crore
Shares of EKI Energy Services slipped 15.04% to Rs 512.25 against the previous close of Rs 602.90 on BSE. It opened higher at Rs 628 and rose to an intraday high of 679, rising 12.62% on BSE. The stock was the top BSE loser today
Shares of Kotak Mahindra Bank fell nearly 2% in Friday's trade, only to recoup losses, on heavy volumes. Several reports suggested Canada Pension Fund, which held 8,63,10,661 shares or 4.34%, stake in Kotak Mahindra Bank as of March 31, was looking to offload about 3.3 crore shares, or 1.6% stake, in the private lender in the Rs 1,792-1,886 price band. Kotak Mahindra Bank shares hit a low of Rs 1,855 on BSE
Shares of Brightcom Group rose over 3% in early trade today. Shares of Brightcom Group gained 3.18% to Rs 23.36 against the previous close of Rs 22.64 on BSE. It opened higher at Rs 23.25 on BSE
Shares of Tata Power rose over 1 % today after Tata Power Renewable Energy through its subsidiary TP Vardhaman Surya received a contract to set up a 966 MW round-the-clock hybrid renewable power project for Tata Steel. Tata Power stock gained 1.02% to Rs 222.85 on BSE. Market cap of the firm stood at Rs 71,208 crore
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