Hot stocks on November 9: YES Bank, Suzlon Energy, Reliance Power, IndusInd Bank and more
Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indices trading flat on November 9
Indian equity benchmarks were trading flat amid mixed global cues today. Sensex fell 20 points to 64,955 and Nifty slipped 8 pts to 19,435. Banking and auto shares were the top BSE sectoral gainers rising 115 points and 360 points, respectively. Market volatility index India VIX was unchanged at 10.97 in morning trade.
FII selling in Indian market declines
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The favourable market texture continues with declining bond yields in the US ( 10-year yield is at 4.48%) and Brent crude dipping below $80. The resilience of the market is forcing the FIIs to substantially reduce their selling which dwindled to Rs 85 crore yesterday. The FOMO ( Fear of Missing Out) factor is likely to restrain the FIIs from aggressive selling. This will be favourable for the financial sector which has been bearing the brunt of FII selling.”
Welspun Corp
Shares of Welspun Corp hit a 52-week high in early trade post Q2 earnings. Total 2.76 lakh shares of the firm changed hands amounting to a turnover of Rs 13.42 crore. Market cap of the firm rose to Rs 12,743 crore on BSE. The firm reported a net profit of Rs 385 crore on higher revenue and debt reduction. The company logged a Rs 63 crore loss in the July-September period of the 2022-23 fiscal.
Jaiprakash Associates
Shares of Jaiprakash Associates zoomed 8.46% to Rs 18.83 on BSE. Market capitalisation of the firm rose to Rs 4543.46 crore. Total 34.54 lakh shares changed hands amounting to a turnover of Rs 6.32 crore. The stock was among the top gainers on BSE in early deals.
Poly Medicure
Shares of Poly Medicure gained 8.60% to Rs 1554 on Thursday. Market capitalisation of the firm rose to Rs 14,695 crore. Total 0.13 lakh shares changed hands amounting to a high turnover of Rs 1.94 crore on BSE. The stock was among the top gainers on BSE in early deals.
Reliance Power
Shares of Reliance Power rose 5.18% to Rs 21.50 in early deals. Market capitalisation of the firm rose to Rs 8,087 crore. Total 162.90 lakh shares changed hands amounting to a high turnover of Rs 344.32 crore on BSE.
IndusInd Bank
Shares of IndusInd Bank hit a fresh 52-week high amid flat trading in benchmark indices today. IndusInd Bank shares rose 1.58% to a high of Rs 1512 today against the previous close of Rs 1488.45 on BSE. The stock of the private sector lender has gained 23.50% this year and risen 31.39% in the last one year.
YES Bank
Shares of YES Bank gained 3.28% to Rs 18.56 in early deals. Market capitalisation of the lender rose to Rs 51,880 crore. Total 283.04 lakh shares changed hands amounting to a turnover of Rs 51.59 crore.
MTAR Technologies
Shares of MTAR Technologies fell 11.79% to Rs 2248 in early deals post Q2 earnings. The company revised its financial year 2024 revenue and EBITDA margin guidance lower. MTAR Technologies' net profit in Q2 fell 17% to Rs 20.5 crore. The firm reported a 32% rise in revenue from operations to Rs 167 crore. Market capitalisation of the firm slipped to Rs 7151 crore. Total 0.53 lakh shares changed hands amounting to a turnover of Rs 12.27 crore.
Disclaimer
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