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POST-MARKET REPORT
Dalal Street ended with benchmarks hitting fresh record levels on July 12 led by Information Technology (IT) stocks after TCS’ Q1 earnings met the expectations.
At close, the Sensex was up 622.00 points or 0.78 percent at 80,519.34, and the Nifty was up 186.20 points or 0.77 percent at 24,502.20.
For the week, BSE Sensex and Nifty50 rose more than 0.5 percent each.
The biggest gainers on the Nifty were TCS, Wipro, LTIMindtree, Infosys, and HCL Technologies, while losers included Maruti Suzuki, Divis Labs, BPCL, Coal India, and Asian Paints.
Among sectors, the IT index surged 4.5 percent, and the Media index added more than 2 percent. On the other hand, the Realty index shed 1.5 percent, the Power index down nearly 1 percent, and Capital goods and Auto indices down 0.5 percent, respectively.
The BSE midcap and smallcap indices ended with marginal losses.
STOCKS TODAY
Cyient: Shares surged over 7 percent to Rs 1,905 after the company announced a strategic expansion of its Semiconductor business with the establishment of a fully-owned subsidiary.
Tata Consultancy Services: Shares rose 7 percent after multiple brokerages upgraded their ratings and raised the target price for the IT giant, driven by its better-than-expected Q1 FY25 results.
Inox Wind: Shares surged over 10 percent to hit an intraday high of Rs 175 on the National Stock Exchange (NSE). The stock has been in focus as investors expect that the upcoming Union Budget announcements may include a continued focus on renewable energy by the government.
GTPL Hathway: Shares declined over 2 percent to Rs 167 per share after the company’s net profit declined 60.2 percent year-on-year (YoY) to Rs 14.3 crore in the June ended quarter (Q1FY25).
Rashtriya Chemicals and Fertilizers (RCFL): Shares surged around 10 percent to hit a fresh record high of Rs 244.9 on the National Stock Exchange (NSE) after the company announced a significant development.
Zee Entertainment: Shares jumped seven percent in the afternoon after the firm announced it would consider raising funds through the issue of securities.
Power Finance Corporation (PFC): Shares gained over 1.5 percent, a day after the government appointed Sandeep Kumar as Director (Finance) of the company.