Benchmarks indices rose in early deals on Wednesday on positive global cues. Sensex climbed 110 points to 62,903 and Nifty gained 49 points to 18,648. Mid- and small-cap shares were positive as BSE Midcap gained 247 points and the BSE small-cap was up 307 points
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Nifty has been struggling to break the upper end of 18,300-18,600 range, but now the market construct favours a breakout. The 7.2% GDP growth in FY23 and upward revision in FY 24 growth rate to around 6.4% are strong positives that can impart resilience to the market. Financials will continue to do well. Autos have made a strong comeback after 5 years and will gain further from falling commodity prices and steadily improving demand.”
Shares of Torrent Power rose 9% after the company said it has signed a Memorandum of Understanding (MoU) with the government of Maharashtra for three pumped storage hydro projects with 5,700 MW capacity. The projects would entail an investment of about Rs 27,000 crore. The stock rose 8.88% to hit a record high of Rs 666 on BSE. Its market capitalisation climbed to Rs 31,607.76 crore
Shares of Tata Power Ltd are in focus after the stock will turn ex-dividend today. Tata Power has declared a dividend of Rs 2 per share. Tata Power stock fell 0.51% to Rs 215.60 in early trade on BSE
Shares of Suzlon Energy touched their 52-week high in early deals today. The stock rose 13% to Rs 13.78 today. Market cap of the firm rose to Rs 16,904 crore
Adani Power shares rose 7.11% to Rs 281.7 today. The stock has been gaining for five sessions. Market cap of the firm rose to Rs 1.05 lakh crore. Adani Power rose post upward revision in its circuit limit by stock exchanges. The circuit limit has been revised to 20 per cent from 5% earlier
Shares of Nestle India rose nearly 2.23% to Rs 22,184 against the previous close of Rs 21,701 on BSE. It opened higher at Rs 21736 on BSE. Total 1,050 shares changed hands within the first hour of trade, amounting to a turnover of Rs 2.31 crore. The stock was the top Sensex gainer today
Shares of Adani Transmission rose over 3% to Rs 845 against the previous close of Rs 816.10 on BSE. It opened higher at Rs 832.80 on BSE. Total 0.88 lakh shares changed hands within the first hour of trade, amounting to a turnover of Rs 7.36 crore
Shares of Brightcom Group rose 5% in early trade today. Shares of Brightcom Group gained 5% to Rs 21.57 against the previous close of Rs 20.55 on BSE. It opened higher at Rs 21.57 on BSE
Shares of RVNL gained 10% in early trade. The stock rose 10.13% to Rs 132.1 today. Turnover and volumes were high for the stock with 61.07 lakh shares changing hands amounting to a turnover of Rs 78.24 crore. Market cap of the firm rose to Rs 27,094 crore
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