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POST-MARKET REPORT
Indian benchmark indices rallied for the third consecutive session on June 27, with Nifty crossing 24,000 for the first time, supported by Information Technology and energy names.
At close, the Sensex was up 568.93 points or 0.72 percent at 79,243.18, and the Nifty was up 175.70 points or 0.74 percent at 24,044.50. About 1128 shares advanced, 2240 shares declined, and 93 shares unchanged.
BSE Sensex and Nfity50 indices hit new record highs of 79,396.03 and 24,087.45, respectively, and The Nifty Bank index also hit a fresh record high of 53,180.75.
UltraTech Cement, Grasim Industries, LTIMindtree, Wipro, and NTPC were among the top gainers on the Nifty, while losers were Shriram Finance, L&T, Eicher Motors, Bajaj Auto and Divis Lab.
Among sectors, IT and Power indices rose 1.7 percent each, while the PSU Bank index was down 1 percent.
The BSE midcap index ended flat, while the smallcap index shed 0.5 percent.
STOCKS TODAY
Route Mobile: Shares rose over 15 percent and hit a 52-week high of Rs 1,894.4 after Microsoft and Proximus Group signed a five-year partnership with the company for digital communications and cloud.
CSB Bank: Shares soar 7.5 percent after Rs 595 crore block deal. As much as a 9.7 percent stake in the bank was sold in a block deal worth Rs 595 crore, with promoter FIH Mauritius Investments being the likely seller.
Dr Reddy’s Laboratories: Shares rose nearly 3 percent after the company announced signing a pact to acquire UK-based Haleon Plc’s global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy (NRT) category outside of the US.
Bharti Hexacom: Share price plunged over 6 percent after Jefferies downgraded the stock to ‘hold’ from their earlier rating of ‘buy’. However, the international brokerage raised its price target on the counter to Rs 1,290 from Rs 1,200 earlier.
Aurobindo Pharma: The US Food and Drug Administration has issued an establishment inspection report for Aurobindo Pharma subsidiary Eugia Pharma’s injectable facility in Telangana, classifying it as Voluntary Action Indicated (VAI). Following the news of the VAI classification shares of Aurobindo Pharma hit the day’s low at Rs 1,180.10.
Texmaco Rail & Engineering: Shares zoomed over 11 percent to hit a fresh record high of Rs 245.65. The sharp rally comes as investors expect the company to benefit from the growing Indian economy, and increasing investments in the railway sector.