Produced by: Aseem Thapliyal Designed by: Muskan Arora
The domestic equity market was trading higher in early deals today. Sensex rose 425 points to 74,673 and Nifty gained 129 pts to 22,643.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, " The pattern of ‘higher highs and higher lows’ is a distinct bullish signal and this has been the standout pattern in the Indian market this year. Consequently, the buy on dips strategy has consistently worked for investors. The new record set by the market yesterday confirms the bullish market undertone. A healthy and desirable trend in the market movement yesterday was the outperformance of the largecaps. This trend is likely to continue.”
Tata Motors shares gained 1.64% to Rs 1,029.60 against the previous close of Rs 1012.95 on BSE. Jaguar Land Rover's (JLR's) sales climbed 11 per cent in the March quarter from a year earlier to 114,038 units, led by production and sustained global demand. Market cap of the firm rose to Rs 3.38 lakh crore.
Shares of Premier Explosives hit their record high after the firm said its board would consider a proposal of sub-division/split in the face value of equity shares of the company. It would also consider a proposal to raise funds in a meeting to be held on April 19. Premier Explosives stock climbed 18.28% to a record high of Rs 1997.55 against the previous close of Rs 1688.65 on BSE. Market cap of the firm rose to Rs 2098 crore.
Shares of Axis Bank rose nearly 2 per cent to Rs 1094 amid reports of block deal by Bain Capital. Market cap of the lender rose to Rs 3.35 lakh crore. Bain Capital was looking to sell 3.34 crore equity shares of the private lender amounting to about $430 million (roughly around Rs 3,580 crore), said reports. BofA Securities is the advisor or manager to the block deal.
Shares of Avenue Supermarts hit a record high in early deals amid a rally in the equity market today. Market cap of D-Mart climbed to Rs 3.05 lakh crore. A total of 5038 shares of the firm changed hands amounting to a turnover of Rs 2.37 crore on BSE.
Shares of Jindal Steel and Power Ltd (JSPL) hit their record high on Tuesday. The stock rose to a record Rs 926.80 on BSE. The stock has risen 22.90 per cent since the beginning of this year and risen 67.66 per cent in one year. JSPL shares have clocked multibagger returns of 122% in the last three years.
Shares of Waaree Renewable Technologies hit a record high of Rs 1976.95. Market cap of the firm stood at Rs 19,318 crore. A total of 10.30 lakh shares of the firm changed hands amounting to a turnover of Rs 196.42 crore on BSE.
Shares of Graphite India hit a 52 week high of Rs 678 on BSE today. Market cap of the firm stood at Rs 13,005 crore. A total of 0.99 lakh shares of the firm changed hands amounting to a turnover of Rs 6.63 crore on BSE.
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