Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indian equity benchmarks were trading higher today. Sensex rose 390 pts to 66,564 and Nifty rose 117 pts to 20,000.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Since the global market backdrop continues to be favourable, the rally in India is likely to continue. The drop in US 10-year bond yield to 4.3% and the dollar index dropping below 103 are positive for equity markets. FIIs have turned buyers responding to the changed reality. What should investors do now? Investors should take cues from the wisdom of the investment legend Charlie Munger who died yesterday. Munger advised investors: 'don’t be gamblers, be patient investors'. There is value in large cap banking, IT and autos for patient investors."
Shares of Adani Total Gas zoomed 18% in early trade to Rs 760 on BSE. Market cap of the firm rose to Rs 79,169 crore. Total 6.33 lakh shares of the firm changed hands amounting to a turnover of Rs 46.38 crore.
Shares of Bharat Heavy Electricals Ltd (BHEL) rose 4% to a fresh 52 week high after the defence ministry inked a Rs 2,956-crore deal with the state-run firm to procure 16 upgraded super rapid gun mount (SRGM) and accessories for Indian Navy. BHEL stock gained 3.74% to Rs 162 on BSE. Total 12.92 lakh shares of the firm changed hands amounting to a turnover of Rs 20.64 crore on BSE.
Shares of Indian Renewable Energy Development Agency (IREDA) made a strong market debut today, listing at 56.25% premium over the IPO issue price. IREDA stock listed at Rs 50 on BSE, a premium of 56.25% over the IPO issue price of Rs 32. Market cap of the firm stood at Rs 13,438 crore on BSE.
Shares of Canara Bank rose over 1% today after the lender said it received approval from the Reserve Bank of India (RBI) for the sale of 70 percent stake of its unlisted subsidiary Canbank Factors Ltd. The stock rose to Rs 404.75 on BSE. Market cap of Canara Bank stood at Rs 72,646 crore. Total 5.20 lakh shares changed hands amounting to a turnover of Rs 20.58 crore.
Shares of PCBL Ltd (erstwhile Phillips Carbon Black Ltd) climbed over 6 per cent to a 52 week high of Rs 269.85 after the company board approved the acquisition of Aquapharm Chemicals for a consideration of Rs 3,800 crore. The stock rose 6.11 per cent to hit a high of Rs 269.85 on BSE.
Aster DM Healthcare stock climbed over 14 per cent to a 52 week high of Rs 382 as the hospital chain will separate its mainstay Gulf business and sell it to its Indian promoters (Moopen family) and a Dubai consortium for $1.001 billion. Market cap of stood at Rs 18,931 crore. Total 3.47 lakh shares changed hands amounting to a turnover of Rs 12.70 crore.
Shares of Adani Energy Solutions rose 10% to Rs 954.85 in early trade today. Market cap of the firm rose to Rs 1 lakh crore. Total 9.68 lakh shares of the firm changed hands amounting to a turnover of Rs 89.59 crore.
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