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POST-MARKET REPORT
The market failed to hold on record high and ended lower in the volatile session on September 27 amid selling seen in the media, bank, and realty sectors.
At close, the Sensex was down 264.27 points or 0.31 percent at 85,571.85, and the Nifty was down 37 points or 0.14 percent at 26,179.
During the day, BSE Sensex and Nifty touched fresh highs of 85,978.25 and 26,277.35, respectively, and for the week, both indices rose 1 percent each.
Power Grid Corp, Bharti Airtel, HDFC Bank, ICICI Bank, Kotak Mahindra Bank were among the top losers on the Nifty, while gainers were BPCL, Cipla, Sun Pharma, Coal India, and Reliance Industries (RIL).
A mixed trend was seen on the sectoral front with auto, metal, IT, pharma, and oil & gas up 0.3-2.5 percent, while realty, power, bank, media, FMCG, and telecom indices were down 0.3-1 percent.
The BSE Midcap and Smallcap indices ended on a flat note.
STOCKS TODAY
PC Jeweller: PC Jeweller stock sees only buyers on hitting its upper circuit after the Bank of India shared its approval for a one-time settlement of its outstanding dues. “The terms and conditions of OTS include cash and equity components payable under the settlement, release of securities and mortgaged properties etc. With this approval, all the fourteen consortium member banks have approved the OTS proposal submitted earlier,” said PC Jeweller in a filing with the bourses.
SJVN: SJVN shares climbed as much as 3.5 percent through the day so far on September 27 after the company inked two memorandum of understandings with the Government of Maharashtra for the development of Pumped Storage Projects (PSPs) and Floating Solar Projects (FSPs) in the state.
Zee Media: Zee Media shares were locked at a 10 percent upper circuit as the board of the company has approved a fund-raising plan amounting to Rs 200 crores. The strategic move aims to enhance the company’s financial standing and support its growth initiatives. With this fundraising, Zee Media aims to attract investments from non-promoter entities through a preferential allotment, aligning with the regulations set forth by the Securities and Exchange Board of India (SEBI).
BPCL: Shares of Bharat Petroleum Corporation (BPCL) surged around 7 percent to hit a fresh record high of Rs 370.50 on NSE, driven by heavy volumes. So far in the day, a total of three crore shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of one crore shares.
Bondada Engg: Shares of Bondada Engineering surged 5 percent in morning trade on September 27 after the company announced bagging order worth Rs 468 crore from KPI Green. The order is for the for supply of materials and installation of solar power generation plant 130 MWp/100MWac. The order is slated to be executed over the next 12 months.