Produced by: Prashun Talukdar Designed by: Mohsin Shaikh
"Impressive winning streak continued for the 7th straight session as the street is now anticipating a strong popular mandate for the BJP in the upcoming 2024 Lok Sabha polls. Also, falling crude oil prices and hopes that the US Federal Reserve will initiate rate cuts in the coming year boosted investor confidence," said Prashanth Tapse, Senior VP (Research) at Mehta Equities.
On the stock-specific front, Delta Corp, Paytm, Vedanta, JP Associates, Bharat Electronics, Adani Ports and some other counters will be in focus today.
Shares of One 97 Communications, Paytm's parent, fell 3.12% to close at Rs 813.30 in the previous trading session. Paytm will issue fewer sub-Rs 50,000 personal loans, the digital payments firm said in an exchange filing, weeks after the Reserve Bank tightened rules on consumer lending after a surge in demand.
Shares of Vedanta rose 2.97% to close at Rs 249.55. Hindustan Zinc declared a dividend for the second time this fiscal, amounting to Rs 2,535 crore, of which the major benefactor will be cash-strapped Vedanta, holding a 64.9% stake.
Muthoot Capital shares climbed 0.95% to close at Rs 389.25. The company has completed a securitisation transaction, raising an amount of Rs 83.04 crore.
Shares of Dr Reddy's slipped 0.83% to settle at Rs 5,727.95. BSE has sought clarification from the pharma giant over a news report titled "US regulators inspect Dr Reddy's, other Indian pharma major."
Shares of Adani Ports moved 0.67% higher to close at Rs 1,018.65. The company will consider a proposal for issuance of non-convertible debentures (NCDs).
Shares of Aditya Birla Fashion and Retail shed 1.14% to settle at Rs 237.55. The company announced a joint venture (JV) with the French high-end footwear brand Christian Louboutin for the Indian market.
Shares of Bharat Electronics Ltd moved 2.80% up to close at Rs 156.20. The company has received an order of Rs 580 crore from Indian Army for AMC of radars.
Shares of Jaiprakash Associates settled with 3.50% gains at Rs 19.21. "The total borrowing (including interest) of the company is Rs 29,037 crore, repayable by 2037, against which only Rs 4,193 crore is overdue as on November 30, 2023. Out of the said borrowing of Rs 29,037 crore, Rs 18,518 crore will get further reduced on transfer to the proposed Special Purpose Vehicle (SPV) for which the scheme of arrangement duly approved by all the stakeholders, is pending sanction of NCLT," JP Associates stated.
Shares of LT Foods edged 0.28% higher to close at Rs 228.80. The company's flagship brand (Daawat) has been recognised as the 'Top Brand' in the Canstar Blue's latest dry rice ratings in Australia.
Shares of Delta Corp inched 0.47% lower to settle at Rs 138.95. The Calcutta High Court has granted interim relief to Deltatech Gaming Ltd (DGL). DGL is a subsidiary of Delta Corp.
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