Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 263 points to 74,142 and Nifty rose 37 pts to 22,512.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "Positive comment by Warren Buffett that India is an untapped market with great potential is hugely important. FIIs can take a cue from that rather than react every time to changes in US bond yields. Kotak Mahindra Bank is likely to respond positively to its impressive Q4 results. The Q4 auto results coming this week will be keenly watched by the markets and positive market responses are likely."
Shares of REC slipped over 11% from record high in early deals on Monday amid amid fears of tighter project finance norms. REC stock, which touched a record high of Rs 539.85 on May 3 slipped to Rs 501.90 today, losing 11.48% during the period. REC shares hit the lower circuit of 10% to Rs 501.90 on BSE today. Market cap of the firm fell to Rs 1.32 lakh crore. REC Limited stock opened lower at Rs 531.10 today.
Shares of IDBI Bank gained over 4% in early deals today after the lender reported a 44% rise in March quarter profit. Net profit climbed to Rs 1,628 crore in the last quarter as provisions fell 58 percent. The banking stock rose 4.25% to Rs 93.21 on Monday against the previous close of Rs 89.41 on BSE.
Shares of Titan Company fell over 7% in early deals on Monday post Q4 earnings. Titan Company stock slipped 7.02% to Rs 3287 today. Market cap of the firm fell to Rs 2.93 lakh crore. Net profit rose 7 per cent to Rs 786 crore in Q4 from Rs 734 crore in the same quarter last year. Revenue for the quarter climbed 17 per cent to Rs 10,047 crore.
Shares of Power Finance Corp fell over 12% in early deals on Monday amid fears of tighter project finance norms. PFC stock slipped 12.40% to Rs 420.85 today. Market cap of the firm fell to Rs 1.46 lakh crore.
Waaree Renewable shares rose 5% to Rs 2871.40 against the previous close of Rs 2734.70. Market cap of the firm rose to Rs 29,882 crore.
BHEL shares fell 8% to Rs 281.05 against the previous close of Rs 305.10. Market cap of the firm slipped to Rs 1.01 lakh crore. Total 45.86 lakh shares of BHEL changed hands amounting to a turnover of Rs 133.22 crore.
Polycab shares rose 2% to a 52 week high of Rs 5939.95 against the previous close of Rs 5830.80. Market cap of the firm climbed to Rs 88,955 crore. Total 0.13 lakh shares of Polycab changed hands amounting to a turnover of Rs 7.46 crore.
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