Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indian equity benchmarks were trading higher amid mixed global cues today. The 30-share BSE Sensex gained 113 points to 63,896 and Nifty climbed 34 pts to 19,021. Market volatility index India VIX rose 7% to 11.68 in morning deals.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, " The oversold positions in the market facilitated the 190 point bounce back in the Nifty on Friday. But the conditions are not favourable for the continuation of this uptrend since the risk-off mood persists in the market. The risk of the Middle East geopolitical crisis spreading is high and since the ground war has begun in Gaza, there can be lots of uncertainty and unexpected developments. The other major factor impacting the markets -the elevated US bond yields- also is also a short term concern for global market.”
Shares of Welspun India climbed over 7% to Rs 157.20 in early deals. Market capitalisation of the firm rose to Rs 15,111 crore. Total 11.93 lakh shares changed hands amounting to a turnover of Rs 18.37 crore. Market cap of the firm rose to Rs 15,111.62 crore.
Shares of Swan Energy rose for the fourth straight session today. The stock zoomed 6.24 per cent to a fresh 52 week high of Rs 392 in early deals. Market cap of the firm rose to Rs 10,127 cr. Total 1.67 lakh shares changed hands amounting to a turnover of Rs 6.39 cr. The stock was among the top BSE gainers. Last week, the company said it completed the upfront payment for acquisition of Reliance Naval and Engineering Ltd (RNEL) through National Company Law Tribunal's (NCLT's) resolution plan. Reliance Naval was once controlled by Anil Ambani.
Shares of Chennai Petroleum Corporation zoomed over 7% to Rs 577.50 today after the firm logged a massive rise in its standalone Q2 net profit at Rs 1,191 crore against Rs 28 crore in the year-ago quarter. Market capitalisation of the firm stood at Rs 8556.45 crore. Total 0.88 lakh shares changed hands amounting to a turnover of Rs 4.96 crore. The stock was among the top gainers on BSE.
Shares of Finolex Cables climbed 6% to Rs 876.85 in early deals. Market capitalisation of the firm rose to Rs 13,845 crore. Total 0.18 lakh shares changed hands amounting to a turnover of Rs 1.66 crore. The stock was among the top gainers on BSE.
Shares of M&M Financial Services slipped 12% to Rs 245.05 in early deals today post Q2 earnings. Market capitalisation of the firm fell to Rs 12,785 crore. Total 0.13 lakh shares changed hands amounting to a turnover of Rs 1.08 crore. The firm reported a 47.5% fall in Q2 profit to Rs 235 crore. However, revenue from operations climbed 24.1 percent YoY to Rs 3,212 crore in Q2, led by a growth in the asset book. Net interest income rose 9% to Rs 1,674 crore on a YoY basis.
Shares of Indian Railway Finance Corporation Ltd (IRFC) fell nearly 2% to Rs 69.92 in early deals today. Market capitalisation of the firm stood at Rs 94,158 crore. Total 37.29 lakh shares changed hands amounting to a high turnover of Rs 26.51 crore.
Shares of Delta Corp slipped over 2% to Rs 128.10 against the previous close of Rs 130.90 on BSE. Market capitalisation of the gaming and casino firm fell to Rs 3434.16 crore. Total 18.03 lakh shares changed hands amounting to a high turnover of Rs 23.50 crore. On Wednesday last week, the stock soared 8% intraday after the Bombay High Court provided interim relief by refraining tax notices worth over Rs 16,000 cr that it had received from the Directorate General of GST Intelligence.
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