Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex rose 297 points to 74,968 and Nifty gained 97 pts to 22,740.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “This bull market is remaining resilient despite headwinds, and is slowly gathering momentum despite high valuations. Despite the big FII selling this month, Nifty is up by 700 points from the April 18th lows. The takeaway from this trend is that the bulls are calling the shots in this market and, therefore, every dip will be bought.”
Shares of UltraTech Cement rose over 2% in early deals on Tuesday post the cement maker’s Q4 earnings. UltraTech Cement shares gained 2.38% to Rs 10,200 against the previous close of Rs 9962.25 on BSE. Market cap of the firm rose to Rs 2.91 lakh crore.
Shares of JSW Energy rose nearly 4% in early deals on Tuesday after brokerage Nuvama said in its latest note said AMFI could include the energy major to the large cap category in the forthcoming June rejig. JSW Energy stock gained 3.79% to Rs 626 against the previous close of Rs 603.10 on BSE. The stock has rallied 140 per cent in a year and gained 470 per cent in three years.
Shares of Bharat Heavy Electricals hit their 52-week high today as brokerage Nuvama in its latest note said AMFI could include the PSU stock to the largecap category in the forthcoming June rejig. BHEL stock gained 2.87% to a high of Rs 284.75 against the previous close of Rs 276.80 on BSE. Total 4.29 lakh shares of the firm changed hands amounting to a turnover of Rs 12.51 crore.
Shares of Tata Chemicals slipped over 4% in early deals on Tuesday after the Tata Group company reported its first quarterly loss in nine years. It posted a net loss of Rs 850 crore for the January–March 2024 quarter against a profit of Rs 709 crore in the year-ago period. Tata Chemicals stock fell 4.44% to Rs 1050 on BSE. Market cap of the firm fell to Rs 27,289 crore.
Shares of KPI Green Energy were stuck in the lower circuit of 5% at Rs 1808.50 in the afternoon session even as the power geeration firm said it received a new order of 74.30 MW Solar Power Plant under CPP Segment including 20 MW Solar Power Project being part of wind-solar hybrid power project from captive customer. Market cap of the firm fell to Rs 10,902 crore.
Shares of IREDA fell nearly 1.5% to Rs 178.70 in the afternoon session. Market cap of the firm fell to Rs 48,164 crore. Total 43.92 lakh shares of the firm changed hands amounting to a high turnover of Rs 79.73 crore.
Shares of Vodafone Idea fell nearly 1% to Rs 13.34 in the afternoon session. Market cap of the firm fell to Rs 88,954 crore. Total 900.66 lakh shares of the firm changed hands amounting to a high turnover of Rs 120.91 crore.
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