Produced by: Aseem Thapliyal
Designed by: Manoj Kumar
Indian equity benchmarks were trading on a flat note in early deals today. The 30-share BSE Sensex fell 22 points to 66,260 and Nifty stood flat at 19,751.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Concerns regarding the spread of the Israel-Hamas conflict have triggered the sharp spike in Brent crude to above $90 and safe-haven buying has pushed gold to above $1900. The anxiety of the market is reflected in the CBOE VIX spiking above 19. From the geopolitical perspective, we are in uncharted territory and, therefore, prudence demands that investors remain cautious. Holding cash would be a good strategy in this uncertain time. The cash component in the portfolio may be increased as a measure of caution.”
Shares of airline SpiceJet Ltd tanked over 11% in early trade after a report said IndiGo co-founder and former promoter Rakesh Gangwal had no intentions to buy a stake in the low-cost carrier. SpiceJet shares fell 11.19% to Rs 38.72 in early trade against the previous close of Rs 43.60 on BSE.
Shares of Delta Corp slipped 9.07% to Rs 127.30 after the gaming and casino firm, said its subsidiary Deltatech Gaming has been notified of a substantial tax liability amounting to Rs 6,384 crore on October 14. Market cap of the firm fell to Rs 3442 crore.
Tata Motors shares hit a 52 week high of Rs 668.35 in early deals. They saw the highest turnover on BSE. Total 8.04 lakh shares changed hands amounting to a turnover of Rs 54.36 crore on BSE. The firm has inked share purchase agreements to offload 9.9% stake in IPO-bound Tata Technologies Ltd (TTL) for Rs 1,613.7 crore to private equity fund TPG Rise Climate SF and an endowment trust belonging to Tata Trusts Chairman Ratan Tata. Market cap of the firm rose to Rs 2.22 lakh crore.
Shares of Vakrangee Ltd gained over 17% to Rs 20.60 in early trade on BSE. The technology stock was among the top gainers. Market cap of the firm rose to Rs 2139.16 crore. Total 80.16 lakh shares changed hands amounting to a turnover of Rs 15.14 crore on BSE.
Shares of Gati Ltd gained 12% Rs 168.10 in early trade on BSE. The firm was among the top gainers on BSE. Market cap of the company rose to Rs 2142.35 crore. Total 1.28 lakh shares changed hands amounting to a turnover of Rs 2.06 crore on BSE.
Shares of Phoenix Mills Ltd fell 4.5% to Rs 1920 in early trade on BSE. Market cap of the company slipped to Rs 34,474 crore. Total 7035 shares changed hands amounting to a turnover of Rs 1.37 crore on BSE.
Shares of IRFC were trading flat at Rs 76.35 in early deals. However, turnover was high with 37.61 lakh shares changing hands amounting to Rs 28.85 crore on BSE. Market cap of the firm stood at Rs 99,778 crore.
Shares of Avenue Supermarts slipped 4% to Rs 3771.70 in early deals. The retail chain operator reported a 9.2 percent fall in consolidated profit at Rs 623 crore for quarter ended September FY24, impacted by lower margin and high base. A total of 0.25 lakh shares changing hands amounting to Rs 9.72 crore on BSE. Market cap of the firm fell to Rs 2.50 lakh crore.
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