Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex rose 225 points to 73,874 and Nifty gained 75 pts to 22,411.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The undercurrent of bullishness of this market has been reinforced by the market action during the last two trading days which saw Nifty spiking by 486 points from Friday’s lows. The only concern in the market now is the high valuations particularly in the broader market. Investors may stick to the safety of fairly valued large caps."
Shares of Rallis India slipped over 3% after the arm of Tata Chemicals narrowed its loss to Rs 21 crore during the quarter ended March 2024 against a loss of Rs 69 crore during the corresponding quarter of previous fiscal. The company’s board also approved a final dividend of Rs 2.5 per share for FY24. Rallis India stock fell 3.5% to Rs 272 against the previous close of Rs 282.70 on BSE.
Shares of Tejas Networks zoomed 20% after the firm reported a 343% year-over-year risen in Q4 revenue at Rs 1,327 crore. FY24 net revenue also zoomed to Rs 2,471 crore, reflecting a 168% increase. Tejas Networks shares rose 20% to Rs 1086.90 on BSE. Market cap of the firm rose to Rs 18,538 crore.
Vodafone Idea shares rose 10 per cent in Tuesday's trade after the board members of telecom operator determined and approved the offer price of Rs 11 per share for its recently concluded Rs 18,000 crore follow on public offer (FPO). Market cap of the firm stood at Rs 70,769 crore.
YES Bank stock gained 5.11% to Rs 26.50 in early deals today. Total 308.37 lakh shares of YES Bank changed hands amounting to a high turnover of Rs 79.92 crore on BSE. The market cap of the firm climbed to Rs 74,336 crore.
Shares of Hatsun Agro Products rose 11 percent in early deals after the Chennai-based company's net profit doubled on year to Rs 52 crore in the January-March quarter. Total 0.38 lakh shares of Hatsun Agro changed hands amounting to a turnover of Rs 4.29 crore on BSE. The market cap of the firm climbed to Rs 25,259 crore.
Cochin Shipyard stock rose 10.85% to hit a record high of Rs 1225 in early deals today. Total 7.02 lakh shares of Cochin Shipyard changed hands amounting to a high turnover of Rs 82.55 crore on BSE. The market cap of the firm climbed to Rs 31,851 crore.
Shares of DMart (listed as Avenue Supermarts) have gained 46% from their 52-week low hit last year. DMart shares rose 2.75% to a 52 week high of Rs 4888 on BSE on Tuesday. Market cap of the firm rose to Rs 3.11 lakh crore.
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