Produced by: Aseem Thapliyal Designed by: Muskan Arora
The domestic equity market was trading higher on Wednesday. Sensex rose 116 points to 72,128 and Nifty gained 30 pts to 21,848. Market cap of BSE-listed firms rose to Rs 373.96 lakh crore.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said," The important point is that there has been profit booking by HNIs and retail investors which pulled the market down. SEBI’s warning about elevated valuations in the broader market has played a role in this profit booking. Fed’s rate decision, more importantly the Fed commentary tonight, will decide the trend in the mother market US. Buy on dips is likely to emerge today in large caps. Bank Nifty has the potential to lead the buying supported by other high quality largecaps like Bharti, RIL and leading auto stocks."
Shares of LT Foods Ltd rose nearly 10% today as Abakkus Asset Manager LLP bought stake in the company via block deal on Tuesday. Sunil Singhania's Abakkus Asset Management bought 33.93 lakh equity shares (equivalent to 0.98 percent of paid-up equity) in the company at an average price of Rs 162.04 per share. The transaction is valued at nearly Rs 55 crore. LT Foods stock gained 9.77% to Rs 178 in the current session. Market cap of the firm rose to Rs 5,945 crore.
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) fell over 3% to Rs 125.25 today after NSE revoked the inclusion of the renewable energy stock in several key indices due to the firm's non-compliance with SEBI portfolio concentration norms. Investor wealth in the firm also shrinked by Rs 1,102 crore in early trade.
Shares of IRFC were trading on a flat note at Rs 134.10 in early deals. Market cap of the firm stood at Rs 1.75 lakh crore. A total of 39.29 lakh shares of the firm changed hands amounting to a turnover of Rs 53.07 crore on BSE.
Shares of Time Technoplast surged 8.93 per cent to Rs 210.95 in early deals as the company said it has received approval from the Petroleum and Explosives Safety Organization (PESO) for the manufacturing of high-pressure Type-IV composite cylinder, prototype, for hydrogen.
Shares of Metro Brands rose 9.45% to Rs 1129.15 against the previous close of Rs 1031.65 on BSE. Market cap of the firm stood at Rs 30,398 crore. A total of 0.22 lakh shares of the firm changed hands amounting to a turnover of Rs 2.43 crore on BSE.
Shares of Tata Chemicals fell 9% to Rs 1022 on BSE today. The stock was the top loser on BSE. Market cap of the firm fell to Rs 26,339 crore. A total of 1.64 lakh shares of the firm changed hands amounting to a turnover of Rs 17.29 crore on BSE.
Shares of Waaree Renewable Technologies rose nearly 2% to Rs 1610 on BSE today. Market cap of the firm climbed to Rs 16,361 crore. A total of 3.19 lakh shares of the firm changed hands amounting to a high turnover of Rs 49.82 crore on BSE.
Shares of Rushil Decor rose 3% to Rs 303 after the company announced incorporation of its subsidiary named 'Rushil Modala Ply Ltd' on March 19, 2024. Market cap of the firm stood at Rs 775.02 crore.
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