Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 485 points to 77,823 and Nifty rose 116 pts to 23,654.
“The sharp bounce back in Nifty by 7.5% from the June 4 lows indicates that the undercurrent of this market is bullish. High valuations may prompt selling by FIIs and profit booking by DIIs but the exuberant retail investors are likely to buy every dip since the ‘buy on dip strategy’ has worked very well in this bull market,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Shares of Craftsman Automation rose over 12% early deals on Tuesday after the firm said it has inked a memorandum of understanding with Sunbeam Lightweighting Solutions and Kedaara Capital Fund II LLP for acquiring the whole or part of the business of Sunbeam (excluding certain specific assets of Sunbeam situated in Gurugram) in one or more tranches. Craftsman Automation stock surged 12.54% to Rs 5441.40 against the previous close of Rs 4835 on BSE.
Shares of Raymond rose 8.5% to Rs 2830.45 to a 52 week high against Rs 2608.20 in the previous session. Market cap of the firm climbed to Rs 18, 341 crore. The stock saw a turnover of Rs 16.22 crore with 0.59 lakh shares changing hands on BSE.
The stock of the civil construction company rose 3.42 per cent a high of Rs 1,213.30 on BSE after the firm announced winning of Rs 2,333 crore worth orders. The orders were secured by the engineering & construction company, along with its joint ventures and international subsidiaries.
Shares of Moschip Technologies slipped 6.22% to Rs 290 in the afternoon session. The stock clocked a high turnover of Rs 194.12 crore as 63.77 lakh shares changed hand amounting for the turnover of Rs 194.12 crore. Market cap of the firm fell to Rs 5,618 crore.
Shares of Happiest Minds Technologies Ltd slipped over 9% on Tuesday after 8.3% equity changed hands in a block deal. The deal was worth Rs 1,076 crore. Shares of Happiest Minds fell over 9.47% to Rs 830.20 against the previous close of Rs 917.05 on BSE.
Shares of Amara Raja Energy rose 19.99% to a 52-week high of Rs 1655.20 against Rs 1379.95 in the previous session. Market cap of the firm climbed to Rs 29,407 crore. The stock saw a turnover of Rs 134.86 crore with 8.41 lakh shares changing hands on BSE.
Shares of Exide Industries gained 8.12% to a 52 week high of Rs 620. Market cap of the firm rose to Rs 50,294 crore. The stock saw a turnover of Rs 86.85 crore with 14.49 lakh shares changing hands on BSE.
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