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POST MARKET REPORT
The Indian benchmark indices Sensex and Nifty closed on a higher level, with Nifty above 23,300, supported by positive global cues and a temporary tariff relief on electronics announced by US President Donald Trump. The market opened on a strong note after Monday’s holiday, with gains led by banking, auto, and IT shares.
At close, Sensex was up 1,531.58 points or 2.04 percent at 76,688.84, and the Nifty was up 482.90 points or 2.12 percent at 23,311.45. About 2933 shares advanced, 631 shares declined, and 122 shares were unchanged.
IndusInd Bank, Shriram Finance, L&T, Tata Motors, and Axis Bank were among the major gainers on the Nifty, while HUL and ITC were losers.
All the sectoral indices ended in the green, with the realty index up more than 5 percent and the shipbuilding sector seeing a massive rise, with a more than 7 percent increase.
Broader indices ended higher, with the BSE Midcap index rising over 3 percent and smallcap indices rising 3 percent as well.
STOCKS TODAY
Bharti Airtel
The shares of the telecommunication brand increased up to 3 percent on Tuesday, reaching its 52-week high, after the company announced a collaboration with Blinkit to provide SIM cards to customers’ houses in just 10 minutes. This service is now in operation across 16 cities in India, and this service includes a nominal fee and simplifies customer activation through Aadhaar-based KYC verification.
Quess Corp
The company’s shares faced a deep decline, with over a 50 percent decrease following the demerger of its two units: Digitide Solutions and Bluspring Enterprises. The decline is a result of the company’s restructuring exercise and not indicative of any deterioration in business fundamentals.
Devyani International Limited
The company is one of India’s largest and fastest-growing Chain Quick Service Restaurant (QSR) operators. Their shares increased 5 percent as domestic brokerage Kotak Institutional Equities upgraded its rating on the firm to ‘buy’ from ‘add’ earlier, while hiking its fair target value on shares to Rs 190 per share from Rs 175 per share.
Transrail Lighting
Shares of the renowned Indian EPC company who are involved in engineering, procurement, and construction companies with a primary focus on power transmission and distribution business rose over 8 percent after the recently listed company won an order worth Rs 1,085 crore in the domestic market.
Allied Blenders
Shares of the leading spirits company recovered from the lows of the day, though still down by 2.8 percent, after the distiller denied reports of any involvement in unfair trade practices in Andhra Pradesh, calling any regulatory action ‘speculative and factually incorrect. ‘
Anant Raj
Shares of the real estate developer were the top gainer on the index, rising over 8 percent, also emerging as one of the top gainers on the Nifty Smallcap index. Shares of other companies in the realty sector also increased, supporting a broader rally in Indian markets and pushing the Nifty Realty index up nearly 6 percent, the highest level for the index in six sessions.
Source – Money Control
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