Produced by: Aseem Thapliyal Designed by: Muskan Arora
The domestic equity market was trading higher in early deals today. Sensex rose 190 points to 74,873 and Nifty gained 56 pts to 22,698.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "Robust economic growth, decent corporate earnings, macroeconomic stability, expectations of political stability after elections, sustained capital flows, and retail investor enthusiasm will keep the market resilient despite rich valuations. A significant recent healthy trend in the market is the outperformance of the fundamentally strong large caps over the mid and small caps. Large cap banking stocks are likely to be the leaders if the rally sustains.”
Shares of Waaree Renewable Technologies gained 4.80%. Market cap of the firm stood at Rs 19,431 crore. A total of 5.98 lakh shares of the firm changed hands amounting to a turnover of Rs 109.47 crore on BSE.
Vedanta shares climbed 9 per cent in Wednesday's trade as CLSA raised its price target on the metal stock. It gave a 'Buy' call against its 'Reduce' rating earlier. Target price on Vedanta has been raised to Rs 390 from Rs 260, citing commodity upcycle. The stock hit a 52 week high of Rs 368.10. Market cap of the firm rose to Rs 1.36 lakh crore.
Shares of Exide Industries Ltd surged 1% in early trade today after the automotive battery manufacturer said it inked an agreement to buy a 26 percent equity stake in Clean Max Arcadia, a special purpose vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions, for the generation and supply of solar power. Exide Industries shares rose 1% to Rs 387.85 in early deals today against the previous close of Rs 383.80 on BSE. Market cap of Exide Industries climbed to Rs 32,529 crore.
Shares of Reliance Infrastructure Ltd hit a lower circuit of 20% in morning deals today amid reports that the Supreme Court set aside the arbitral award in favour of Anil Ambani-owned Reliance Infrastructure's metro arm Delhi Airport Metro Express Private Limited (DAMEPL). Reliance Infrastructure shares fell 20% to Rs 227.40 against the previous close of Rs 284.20 on BSE. Market cap of the firm fell to Rs 9,008 crore.
Shares of Ramco Systems rose over 17% today after the global aviation software specialist announced its strategic engagement with Korean Air, largest airline of South Korea, to implement its flagship aviation software, Ramco Aviation Suite at Korean Air’s Engine Maintenance Center. The stock climbed 17.25% to Rs 333.95 against the previous close of Rs 284.80 on BSE. Market cap of the firm rose to Rs 1171.33 crore.
Shares of Avenue Supermarts rose to their 52-week high of Rs 4831 on Wednesday after operator of DMart, announced the opening of a new store in Bengaluru, taking the number of stores to 366. The stock rose 2.5% to Rs 4831 on BSE. Market cap of the firm rose to Rs 3.11 lakh crore.
Tata Power stock hit a record high on Wednesday amid a rally in the broader market. Tata Power shares surged to a high of Rs 439.40 against the previous close of Rs 429.75 on BSE. Market cap of Tata Power climbed to Rs 1.38 lakh crore on BSE.
Shares of Tanla Platforms rose 12.46% to Rs 4,831 on BSE. Market cap of the firm rose to Rs 13,486 crore. Around 1.78 lakh shares changed hands amounting to a turnover of Rs 17.81 crore today.
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