Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 133 points to 74,086 and Nifty rose 31 pts to 22,560.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The market is likely to respond to the election outcome earlier than June 4. Investors can consider buying stocks before the results. Priority can be given to large caps, which are fairly valued compared to the broader market where valuations are much higher. A possibility around the election results time is both FIIs and DIIs turning buyers lifting the largecaps and the indexes to higher levels."
Shares of Apollo Tyres rose nearly 6% in early deals on Wednesday after 2.25 crore shares (3.5% equity) changed hands in a block deal on BSE. According to reports, White Iris Investment Ptd Ltd, an arm of the global private equity firm Warburg Pincus, was likely to sell its entire stake of 3.54%. Apollo Tyres shares climbed 5.77% to Rs 510 against the previous close of Rs 482.15 on BSE.
Shares of BHEL slipped 7.58% in early deals. BHEL’s market cap stood at Rs 1.05 lakh crore. Total 47.30 lakh shares of the firm changed hands amounting to turnover of Rs 143.22 crore on BSE.
Shares of Rail Vikas Nigam Ltd (RVNL) hit a record high of Rs 359 in early deals today. Shares of RVNL surged 5.06 per cent to Rs 359 on BSE. Market cap of the firm stood at Rs 71,818 crore.
Shares of IRCTC rose to a record high of Rs 1137.15. IRCTC’s market cap stood at Rs 90,412 crore. Total 2.03 lakh shares of the firm changed hands amounting to turnover of Rs 22.80 crore.
Shares of VA Tech Wabag slipped over 8% in early deals on Wednesday after the water treatment firm recorded a flat growth in revenue for March 2024 quarter. Revenue climbed to Rs 942.4 crore in the last quarter against Rs 934.5 crore in the Q4 of FY23. VA Tech Wabag stock slipped over 8% to Rs 914.80 in the current session. Market cap of the firm fell to Rs 5869.53 crore
Shares of Suzlon Energy Ltd hit the upper circuit of 5 per cent at Rs 46.23 after the renewable energy solutions provider - Suzlon Group - secured new orders. The company announced new order wins for the development of 402 MW wind energy projects for Juniper Green Energy.
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