Produced by: Aseem Thapliyal
Designed by: Mohsin Shaikh
Indian equity benchmarks were trading lower in early deals today. The 30-share BSE Sensex pack fell 101 points to 65,907, while the Nifty lost 32 points to 19,642
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “"Sustained FII selling has been a drag on the market in recent days. In the cash market, FII selling was Rs 18,260 crore, so far this month. Since valuations remain high even after the recent pull back and US bond yields are attractive ( the US 10-year bond yield is around 4.46 percent), FIIs are likely to press sales so long as this trend persists. It would be irrational to expect the FIIs to buy aggressively when the US 10-year bond yield is around 4.46 percent and the dollar index is above 105. Even after the recent correction, Nifty is trading around 20 times FY 24 earnings, making India the most expensive market in the world.”
Shares of Delta Corp Ltd crashed 20% in early deals today after the gaming and casino firm said it has received tax notices totaling Rs 16,822 crore from the Directorate General of GST Intelligence. Delta Corp shares tanked 20% to Rs 140.20 on Monday against the previous close of Rs 175.25 on BSE. Market cap of Delta Corp fell to Rs 3850 crore in the current session
Shares of Shree Renuka Sugars rose over 4.5% to Rs 56.75 today after the sugar producing firm said has received its board approval for inking binding agreements to buy Anamika Sugar Mills for Rs 235.5 crore, to build up a presence in Uttar Pradesh. The company also received board's approval for raising of funds up to Rs 285 crore through issue of non-convertible debentures on a private placement. Market cap of the firm rose to Rs 12,062 crore on BSE
Shares of Strides Pharma Science hit their 52 week high of Rs 538.65 in early deals after the firm said its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Icosapent Ethyl Capsules 0.5 gram and 1 gram, from the United States Food & Drug Administration (USFDA). Market cap of the firm rose to Rs 4778.61 crore
Shares of Schneider Electric Infrastructure gained 10% to a 52 week high of Rs 383 in early trade. Total 1.72 lakh shares of the firm changed hands amounting to a turnover of Rs 6.37 crore on BSE. Market cap of the firm climbed to Rs 9109 crore
Shares of EKI Energy Services slipped 10% to Rs 560.15 in early trade. The stock was the among the top BSE losers today. Total 0.20 lakh shares of the firm changed hands amounting to a turnover of Rs 1.11 crore on BSE. Market cap of the firm fell to Rs 1541.26 crore
Shares of Religare Enterprises plunged over 7 per cent in early deals as Dabur's Burman Group through its entities announced an open offer for 26 per cent stake at a price that was at 13.74 per cent discount to its Friday's closing price of Rs 272.45. The stock fell 7.35 per cent to hit a low of Rs 252.40 apiece
Shares of Suzlon Energy gained 3.87% to Rs 26.02 in early trade. Total 68.49 lakh shares of the firm changed hands amounting to a turnover of Rs 17.48 crore on BSE. Market cap of the firm climbed to Rs 34,319 crore
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