Produced by: Aseem Thapliyal Designed by: Manoj KumaR
The domestic equity market was trading higher on Thursday. Sensex rose 297 points to 70,800 and Nifty gained 91 pts to 21,241.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "At high valuations, the market is vulnerable to sharp corrections and this happened yesterday. Two trends are important: one, the correction in mid and small caps is almost double the correction in large caps; two, DIIs turned big buyers towards the end of the trading day. The vulnerability of the mid and small caps to correction remains since the valuations are excessive. Large caps will witness buying on declines. Investors can wait for the market to stabilise and buy high quality large cap stocks on declines."
Shares of Satin Creditcare Network gained 5% after the firm said it raised Rs 250 crore through Qualified Institutional Placement (QIP) route. The firm saw 0.63 lakh shares changing hands amounting to a turnover of Rs 1.60 crore. Market cap of Satin Creditcare rose to Rs 2,610.92 crore.
Shares of Transformers and Rectifiers (India) Ltd gained 3.3% to Rs 190.35 today after the electrical equipment maker said it received orders worth Rs 219 crore from Power Grid Corporation of India. It also won Rs 237 crore order from Power Grid on December 19. The company said on Tuesday it received orders for total contract value of Rs 118 crore from Uttar Pradesh Power Transmission Corporation.
Shares of Inox India made a strong debut at Dalal Street as the cryogenic cylinder maker debuted at Rs 949.65, a premium of 44 per cent, at the National Stock Exchange (NSE), against the issue price of Rs 660 apiece. The scrip was listed at a premium of 41 per cent at Rs 933.15 on the BSE. The firm saw 12.30 lakh shares changing hands amounting to a high turnover of Rs 112.74 crore.
Shares of Tarsons Products gained 11.26% to Rs 541.55 on BSE. The firm saw 0.28 lakh shares changing hands amounting to a turnover of Rs 1.44 crore. Market cap of Tarsons Products rose to Rs 2,864.63 crore.
IRCTC stock climbed 5.4% intraday to Rs 860 against the previous close of Rs 815.55 on BSE. The railway stock opened lower at Rs 801.65. Total 12.20 lakh shares of the firm changed hands amounting to a high turnover of Rs 102.55 crore on BSE. Market cap of IRCTC rose to Rs 68,548 crore.
Shares of YES Bank rose nearly 1% to Rs 20.98. The bank saw 472.23 lakh shares changing hands amounting to a high turnover of Rs 97.72 crore. Market cap of the bank climbed Rs 59,474 crore.
Shares of Tata Power rose 3% to Rs 329.95 on BSE. Market cap of Tata Power rose to Rs 1.04 lakh crore. Total 32.54 lakh shares changed hands amounting to a turnover of Rs 105.65 crore.
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