Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indian equity benchmarks were trading higher amid positive global market sentiment today. Sensex rose 415 points to 64,496 and Nifty gained 136 pts to 19,269. All 19 sectoral indices on BSE were trading in the green. Market volatility index India VIX slipped 4% to 10.66 in morning trade today.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The positive global sentiments can embolden the bulls in India to stage a comeback. Since FIIs are short in the market, short covering is a possibility. Investors should remember that the buy on dips strategy has worked in this market. It is likely to work again. High quality large-caps in financials, automobiles and capital goods are on strong wicket. Mid-cap IT is doing well."
Shares of Ratnamani Metals & Tubes climbed 5.63% to a 52-week high of Rs 2983.10 in Friday’s trade post September quarter results. Market capitalisation of the firm stood at Rs 20,444 crore. Total 5857 shares changed hands amounting to a turnover of Rs 1.71 crore. On November 2, Ratnamani Metals reported a profit after tax of Rs 164.33 crore for the September quarter against a profit of Rs 98.77 crore a year ago. Revenue from operations rose to Rs 1131.20 crore in Q2 against Rs 899.81 in Q2 of the previous fiscal.
Shares of Canara Bank climbed to a 52-week high of Rs 392.75 in early deals. Market capitalisation of the bank rose to Rs 70,841 crore. Total 1.57 lakh shares changed hands amounting to a turnover of Rs 6.15 crore.
Shares of Mangalore Refinery climbed 10% to Rs 114.60 in early deals. Market capitalisation of the firm rose to Rs 19,602 crore. Total 17 lakh shares changed hands amounting to a turnover of Rs 19.07 crore. The stock was among the top gainers on BSE. On November 1, MRPL reported profit after tax of Rs 1,059 crore for the September quarter against a net loss of Rs 1,789 crore a year ago. However, revenue from operations fell to Rs 22,844 crore in the last quarter from Rs 28,453 crore in the previous fiscal.
Shares of Vodafone Idea were trading flat at Rs 13.70 in early deals. Market capitalisation of the firm stood at Rs 66,691 crore. Total 790.65 lakh shares changed hands amounting to the highest turnover of Rs 110.27 crore on BSE.
Shares of Jaiprakash Power Ventures hit a 52-week high of Rs 10.89 in early deals. Market capitalisation of the firm rose to Rs 7216 crore. Total 460.58 lakh shares changed hands amounting to a high turnover of Rs 49.02 crore on BSE.
Shares of Suzlon Energy hit a 52-week high in early deals post Q2 earnings. The renewable energy stock hit upper circuit of 5% to Rs 34.44. Market cap of the firm climbed to Rs 46,753 crore. Total 220.48 lakh shares changed hands amounting to a high turnover of Rs 75.49 crore on BSE. Consolidated net profit zoomed 78.11 per cent to Rs 102.29 crore against Rs 57.43 crore in the year-ago period. However, revenue from operations slipped 0.92 per cent to Rs 1,417.21 crore in Q2 FY24 from Rs 1,430.38 crore in the corresponding period last year.
Shares of Adani Power gained 4.5% to Rs 389.50 today post Q2 earnings. Market capitalisation of the Adani Group firm rose to Rs 1.47 lakh crore. Total 4.99 lakh shares changed hands amounting to a turnover of Rs 19.21 crore. The firm’s Q2 profit zoomed eight fold to Rs 6,594 crore from Rs 696 crore in the year-ago period. Revenue rose 85% to Rs 12,991 crore in the last quarter from Rs 7,044 crore in the corresponding period last year.
Shares of Tata Motors gained 4.5% to Rs 665.45 in early deals post Q2 earnings. Market capitalisation of the firm climbed to Rs 2.16 lakh crore. Total 9.09 lakh shares changed hands amounting to a high turnover of Rs 59.39 crore. The firm reported a net profit of Rs 3,764 crore for the quarter ended September 2023 against a loss of Rs 944.61 crore in the September 2022 quarter.
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