Domestic benchmark indices opened higher on Tuesday but gave up their early gains on Tuesday. The 30-share Sensex eased more than 230 points from day's hit to 66,327.66, while Nifty was almost unchanged at 19,663.20
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “FPI flows have slowed down. In the last two days FPIs have sold stocks worth Rs 2081 crores indicating buying exhaustion. This is a normal response to the rising dollar index which has moved up to 101.4 from the recent low of 99. Globally markets will be keenly watching the Fed commentary since a 25 bp hike in rate is already known and discounted by the market.”
Shares of Aarti Drugs extended their gains on Tuesday and surged another 7% to Rs 645, its new 52-week high after consolidated net profit jumped 38% to Rs 48 crore for the first quarter ended June 30, 2023. The company also announced a buyback of up to Rs 59.85 crore
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The largest paper player in the company reported a 18% YoY rise in the net profit at Rs 313 crore, while its revenue from operations grew 16% YoY to Rs 1,664 crore. The stock surged more than 7% to Rs 336.35 after a strong performance in the June 2023 quarter
The SJVN stock soared another 10% on Tuesday and scaled its new 52-week high during the session. After bagging a Rs 7,000 crore order from Punjab State Power Corporation, SJVN has received an order of 5 hydro projects of 5097 MW in Arunachal Pradesh. The stock touched Rs 62.75 during the day
Shares of Mazagon Dock scaled Rs 2,000 mark for the first time. The defence player soared more than 4% to hit its new all time high of Rs 2,040. The multibagger stock has zoomed more 660% from its 52-week lows at Rs 268
Shares of 5paisa Capital gained more than 18% during the trading session on the back of heavy trading volume. More than 0.7 lakh crore shares worth over Rs 3.04 crore of the smallcap stockbroker exchanged hands during the session on BSE, which is much higher than its two-week average trading volumes of 0.12 lakh shares
Can Fin Homes' shares were under selling pressure on Tuesday after the housing finance player said senior management personnel had stepped down from their position. The company rejig in the top brass of the management led to a fall of 6% in the stock to Rs 834.05
Shares of Chennai Petroleum were trading 10% lower at Rs 400 after the refinery player reported a 77% YoY decline in net profit at Rs 548.3 crore for the first quarter that ended June 30, 2023. Revenue slumped 36% to Rs 14,744.8 crore in Q1FY24
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