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POST-MARKET REPORT
In a highly volatile session, Nifty hits a fresh all-time high of 22,252.50 led by buying across the sectors. At close, the Sensex was up 535.15 points or 0.74 percent at 73,158.24, and the Nifty was up 162.50 points or 0.74 percent at 22,217.50.
Bajaj Auto, HCL Technologies, Eicher Motors, ITC, and Coal India were among the top gainers on the Nifty. At the same time, the losers were IndusInd Bank, HDFC Bank, BPCL, Kotak Mahindra Bank, and Hero MotoCorp.
Among the sectors, Auto, Capital Goods, Metal, Power, Information Technologies and Telecom were up 1 percent each. However, the bank index ended marginally lower. BSE Midcap gained 1 percent and the Smallcap index added 0.5 percent.
Stocks Today
ABB India: Shares of ABB India surged to a fresh all-time high of Rs 5,373.80 on the NSE. The stock has been rising ever since the large-cap technology firm announced its financial results earlier this week. The sharp rally can be attributed to the ‘buy’ ratings and raised target prices from several brokerages.
SpiceJet: The company on Thursday said it has secured an additional Rs 316 crore, taking its total funds raised to Rs 1,060 crore through a preferential share issue. The fresh capital infusion in the struggling airline comes amid its recent announcement of slashing its workforce by 10-15 percent. In January, SpiceJet received Rs 744 crore as the first tranche of funds through the allotment of securities on a preferential basis.
Devyani International Limited: Shares of Devyani International Limited traded lower, breaking its four-day gaining streak on the bourses. Nippon India Mutual Fund bought 80 lakh shares or 0.66 percent stake at the average price of Rs 164, stock exchange data showed. This comes after Yum Restaurant India Private Ltd divested the entire 4.4 percent stake in the KFC operator, valuing the transaction at Rs 871 crore.
Brigade Enterprises: Shares of Brigade Enterprises Limited advanced 5 percent to Rs 1,055 in early trade on February 22 after the company signed a joint development agreement with PVP Ventures Limited to develop a 2.5 million square feet, high-rise residential project in Perambur, Chennai.
Vodafone Idea: Vodafone Idea will consider fundraising at a board meeting on February 27, the Aditya Birla Group telecom company said in an exchange notification. The company said that the board will “consider and evaluate all proposals for raising funds in one or more tranches.
MTAR Technologies: MTAR Technologies and other space-related stocks surged after the Union Cabinet approved changes to the Foreign Direct Investment Policy (FDI) in the space sector.
Eureka Forbes: Shares of Eureka Forbes declined 3.55 percent after a block deal involving 1.79 crore shares or a 9.3 percent equity stake worth Rs 975 crore took place in the bourses. Lunolux the promoter entity of Eureka Forbes is the likely seller, as it was reported to sell its stake in the company.
LTI Mindtree: LTI Mindtree stock gained 1.17 percent a day after the IT services company signed a memorandum of understanding with insurer Eurolife FFH to set up generative Al and digital hubs in Europe and India.