Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading higher on Thursday. Sensex rose 94 points to 71,941 and Nifty gained 42 pts to 21,700.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "An important feature of the ongoing rally in the market is that retail investors, not institutions, are calling the shots. This retail exuberance is getting reflected in the records being set by the Mid and Smallcap indices even at frothy valuations in these segments. The excessive valuations of the broader market cannot continue for long. Big corrections are likely in the broader market; the only question is when."
Shares of BEML hit a record high after the defence ministry inked a contract for procurement of 56 Mechanical Minefield Marking Equipment (MMME) Mark II at a cost of Rs 329 crore with the PSU firm. BEML shares touched a fresh high of Rs 2999 against the previous close of Rs 2888.60 on BSE. BEML’s market cap rose to Rs 12,372 crore.
Shares of Jupiter Wagons gained 4% in early trade today after the railway sector firm said it has inked a contract with the defence ministry for manufacture and supply of 697 bogie open military (BOM) wagons for a contract value of Rs 473 crore. Jupiter Wagons shares rose 4.01% intraday to Rs 345.15 against the previous close of Rs 331.60 on BSE. Total 0.88 lakh shares of the firm changed hands amounting to a turnover of Rs 3 crore on BSE today.
Shares of Pearl Global Industries rose over 3% as the stock of the garments and apparel maker turned ex-split today. The board of the firm had announced a stock split in the ratio of 1:2 last year. It fixed January 5, 2024 as record date for sub-division of equity shares of face value of Rs 10 each to Rs 5 each fully paid up. Pearl Global Industries shares rose 3.49% to Rs 715 against the previous close of Rs 690.85 on BSE. Market cap of the firm rose to Rs 3036.21 crore.
Shares of Alok Industries rose 15.88 per cent to Rs 31.45 on BSE. The stock was the top BSE gainer today. Market capitalization of the firm rose to Rs 15,451 crore. Total 122.79 lakh shares of the firm changed hands amounting to a turnover of Rs 37.04 crore on BSE.
Shares of Subex Ltd gained 10.62% to Rs 37.70 on BSE. Market capitalization of the firm rose to Rs 2,110.32 crore. Total 50.84 lakh shares of the firm changed hands amounting to a turnover of Rs 18.53 crore on BSE.
Shares of YES Bank hit a fresh 52 week high today. The stock rose nearly 4% to Rs 24.25 in the afternoon session today. Earlier, the stock opened higher at Rs 23.38 on BSE. Total 542.31 lakh shares of the firm changed hands amounting to a high turnover of Rs 129.12 crore on BSE. Market cap of the firm rose to Rs 69,372 crore.
Shares of Reliance Power gained 7.91% to a 52-week high of Rs 32.99 on BSE. The firm saw 607.07 lakh shares changing hands amounting to a high turnover of Rs 193.43 crore on BSE. Market cap of the company rose to Rs 12,279 crore.
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