Benchmark indices were trading on a positive note in early deals today (August 7). The 30-share Sensex rose 214 points to 65,935 and Nifty gained 67 points to 19,584
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Cues from the mother market US are favourable; particularly the sharp 14 bps dip in the US 10-year bond yield last Friday can once again favour renewed FPI buying. Latest data from the US indicate a slight cooling of the economy but the labour market continues to be strong. Markets will be keenly watching the July CPI print for clues on the Fed decision in August. Indian market valuation is likely to remain elevated compared to peers. In spite of this India has the potential to deliver superior returns in the long run.”
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Shares of One 97 Communications (Paytm) rose 12% in early deals as Founder and CEO Vijay Shekhar Sharma inked an agreement with Antfin (Netherlands) Holding BV to purchase 10.30% stake in the new-age company through his 100% owned overseas entity – Resilient Asset Management B.V. With this, Antfin will cease to be the largest shareholder. Following the development, the stock climbed 11.57% to hit a high of Rs 887.55 on BSE
Shares of Indian Railway Finance Corporation Ltd (IRFC), the financial arm of the Indian Railways, zoomed 7% in early trade today. The IRFC stock gained 6.84% to Rs 48.23 against the previous close of Rs 45.14 on BSE. Market cap of the firm rose to Rs 62,532 crore. Total 97.80 lakh shares of the firm changed hands amounting to a turnover of Rs 45.91 crore, among the highest on BSE
Shares of Zen Technologies Ltd rose 10% after the drone maker reported nearly six times jump in June quarter profit. Zen Technologies, which offers defence training solutions and drones and anti- drones solutions saw its June quarter profit surging to Rs 47.13 crore from Rs 8.21 crore in the same quarter last year. The stock rose 10% to hit a high of Rs 674.75 on BSE
Shares of Reliance Industries Ltd (Ltd) were trading flat in early deals as the oil-to-telecom major while announcing its FY23 annual report fixed August 28 as the date for annual general meeting date (AGM). RIL has sought approval from its shareholders to extend Mukesh Ambani's tenure as Chairman and Managing Director for another five years, until 2029. The stock rose 0.29% to Rs 2,517 on BSE. Market cap of the firm stood at Rs 17.03 lakh crore
Shares of DB Realty rose 14% to Rs 97.58 in early deals after the National Company Law Appellate Tribunal (NCLAT) quashed insolvency resolution proceedings against BD&P Hotels (India), a group entity of the listed real estate developer, while setting aside an earlier order of the National Company Law Tribunal (NCLT).Market cap of the firm rose to Rs 3,315 crore
Shares of Adani Green Energy fell over 4% to Rs 886.25 in early deals on BSE. Market cap of the firm slipped to Rs 1.54 lakh crore. Total 478.19 lakh shares of the firm changed hands amounting to a turnover of Rs 4403.60 crore, the highest on BSE
SBI shares were trading flat at Rs 570.40 in early deals post the bank’s Q1 earnings. Market cap of the lender stood at Rs 5.08 lakh crore. State Bank of India (SBI) reported a 178.24% YoY rise in standalone net profit at Rs 16,884.29 crore for the June quarter compared with Rs 6,068.08 crore in the same quarter last year. This was the record net profit for the fourth quarter in a row
Grasim Ltd shares rose over 1% to a fresh 52-week high of Rs 1.860 today. Market cap of the firm climbed to Rs 1.21 lakh crore. Total 8.515 shares of the firm changed hands amounting to a turnover of Rs 1.57 crore on BSE
Shares of Zomato rose another 6% on the back of Q1 earnings today. Zomato said its food delivery platform reported a profit after tax (PAT) at Rs 2 crore for the quarter against a net loss of Rs 186 crore in the June quarter of last year. Market cap of the firm rose to Rs 86,907 crore. The stock hit a fresh 52-week high of Rs 102 today
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