Hot stocks on January 1: Vodafone Idea, YES Bank, KPI Green Energy, Tata Motors and more

Sensex, Nifty trading lower

The domestic equity market was trading lower on Monday. Sensex fell 95 points to 72,144 and Nifty lost 5 pts to 21,726.

Equity market is vulnerable to corrections

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"From the global perspective, the US economy appears to be heading for a soft landing. The US 10-year bond yield at 3.87 % and the dollar index at 100.6 are tailwinds for the market. FPI inflows in 2024 are likely to be robust. The concern, however, is that most of this good news is in the price; valuations are a bit stretched and above the long-term averages. So, the market is vulnerable to corrections from presently unknown risks. The broader market is overvalued; safety is in large-caps."

KPI Green Energy

Shares of KPI Green Energy rallied to their record high today after its board approved the proposal for issue of bonus equity shares in the ratio of 1:2. KPI Green Energy stock gained 1.45% to a high of Rs 1490 on BSE. The power stock opened higher at Rs 1490 against the previous close of Rs 1468.05 on BSE.

Tata Motors

Shares of Tata Motors rose the most on Sensex in early deals in the first session of 2024 today. Tata Motors stock gained 1.95% to a high of Rs 796 on BSE. Tata Motors stock opened higher at Rs 786.70 on Monday. Market cap of the firm rose to Rs 2.63 lakh crore. Total 6.52 lakh shares changed hands amounting to a high turnover of Rs 51.59 crore on BSE.

RailTel

Shares of RailTel Corporation of India Ltd hit their all-time high in the first trading session of 2024 today. The stock of the Mini Ratna firm rose 9.88% to a high of Rs 371.40 on BSE against the previous close of Rs 338 on BSE. Market cap of the firm rose to Rs 11,730 crore. Total 11.27 lakh shares of the firm changed hands amounting to a turnover of Rs 40.54 crore.

Trishakti Industries

Shares of Trishakti Industries were locked in the upper circuit of 2% in the first trading session of 2024 today after board of the firm approved a stock split in the ratio of 1:5 on Fecember 30, 2023. The stock of the NBFC rose 2% to a high of Rs 150 on BSE against the previous close of Rs 147.10 on BSE. Market cap of the firm rose to Rs 44.56 crore.

BHEL

of Bharat Heavy Electricals Ltd (BHEL) climbed 6 per cent amid a media report that said the PSU has emerged as the best bidder for a Rs 19,422-crore turnkey contract for building a thermal power plant for NLC India at Talabira, Odisha. BHEL shares climbed 5.78 per cent to hit a high of Rs 204.65 on BSE.

YES Bank

Shares of YES Bank rose as much as 7 per cent after the private lender informed the bourses about receipt from a trust in the security receipts portfolio. Shares of YES Bank gained about 6.85 per cent to Rs 22.93 with a total market capitalization of close to Rs 66,000 crore. Total 540.41 lakh shares of the firm changed hands amounting to a high turnover of Rs 127.38 crore.

Vodafone Idea

Shares of Vodafone Idea jumped 14.98 per cent to scale a one-year high of Rs 18.42. Market cap of the firm rose to Rs 83,875 crore.

Disclaimer

Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.

Also read: Stock recommendations by market analyst for January 1, 2024: Dabur India, Suven Pharmaceuticals and Samvardhana Motherson

Also read: Integra Essentia shares up 5% as company announces record date for bonus issue