Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 22 points to 72,686 and Nifty rose 25.70 pts to 22,077.
Anand James, Chief Market Strategist, Geojit Financial Services said, “VIX’s behaviour now has a lot of similarity to the period shortly before the 2019 electoral results announcement. Then too, markets had come off peaks in March, and VIX shot up to 28.6. The main difference is that prior to this, VIX was in a 20-14 range during the previous 6 months, pointing to volatility expectations being reasonably high for an extended period. In stark contrast, VIX’s rise from record lows to above 20 now, has unfolded in just a fortnight’s time. While recent history points to more room for upside in VIX and thereby volatility, the abruptness in the rate of change of VIX, might lead to a cool off, perhaps even before the electoral results."
BEML shares surged 10% amid a market crash in early deals today after the PSU announced its earnings for the March 2024 quarter. BEML shares zoomed 9.83% to Rs 3525.45 against the previous close of Rs 3209.80 on BSE. BEML’s market cap rose to Rs 14,576 crore.
Shares of Tata Motors fell 9.44% to Rs 948 today post Q4 earnings. Market cap of the auto firm slipped to Rs 3.17 lakh crore. Total 35.97 lakh shares of the firm changed hands amounting to the highest turnover of Rs 347.39 crore. The auto firm reported a consolidated net profit of Rs 17,407 crore in Q4 surging 222 per cent YoY on the back of tax credit of Rs 8,159 crore and strong operating numbers..
Shares of Indigene fell 11% to Rs 587.85 after market debut today. Market cap of the firm stood at Rs 14,057 crore. Total 20.75 lakh shares of the firm changed hands amounting to a high turnover of Rs 121.52 crore.
Shares of Waaree Renewable Technologies Ltd were stuck in the lower circuit of Rs 2435.80 today post the company’s Q4 earnings. Market cap of the firm fell to Rs 25,368 crore. Total 0.54 lakh shares of the firm changed hands amounting to a turnover of Rs 13.08 crore. Waaree posted over four-fold rise in consolidated net profit after tax at Rs 54.18 crore for March quarter FY24 on the back of higher revenues.
Shares of CG Power hit their record high of Rs 601 in the afternoon session today. The stock saw a turnover of Rs 6.64 crore as 1.12 lakh shares of the firm changed hands on BSE. Market cap of the firm rose to Rs 91,029 crore.
Shares of Cummins India hit their record high in the afternoon session today. The stock climbed 2.89% to a high of Rs 3511.70 against the previous close of Rs 3413 on BSE. Market cap of the firm rose to Rs 96,717 crore on Monday.
Shares of Zomato hit their record high in the afternoon session today. The stock climbed 2.92% to a high of Rs 207.30 against the previous close of Rs 2014.40 on BSE. Market cap of the firm stood at Rs 1,740 crore on Monday.
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