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POST-MARKET REPORT
The Indian equity market started the financial year 2024-25 by hitting fresh highs amid buying across sectors, especially in power, realty, and metal.
At close, the Sensex was up 363.20 points, or 0.49 percent, at 74,014.55, and the Nifty was up 135.10 points, or 0.61 percent, at 22,462.
Tata Steel, JSW Steel, Adani Ports, Shriram Finance, and Divi’s Labs were among the top Nifty gainers, while losers were Eicher Motors, Titan Company, Bajaj Auto, LTIMindtree and Nestle.
Among the sectors, Except auto, all other sectoral indices ended in the green. Metal, power, capital goods, healthcare, and realty were up 1 to 4 percent, while oil & gas, information technology, and bank were up 0.5 percent each.
Considering broader market indices, The BSE midcap index rose 1.6 percent and the smallcap gained nearly 3 percent.
STOCKS TODAY
HAL: The Hindustan Aeronautics stock gained 2 percent after the company signed a Rs 1,173.42-crore contract with Cochin Shipyard Limited (CSL). “The company has signed a contract with Cochin Shipyard Limited (CSL), Kochi for the supply of 6 sets of LM2500 Gas Turbines (GT) and GT Auxiliaries (GTAE), spares, tools for Indian Navy Next Generation Missile Vessel (NGMV) project,” it said in a press release.
Hindustan Copper: Shares of Hindustan Copper and other metal stocks surged after economic data from China indicated that the manufacturing sector is seeing a rebound, which may lead to a rise in demand for metals.
Adani Total Gas: Adani Total Gas stock gained 4 percent after the company said its wholly-owned subsidiary, Adani Total Energies Biomass Limited(ATBL), commenced operations at Barsana Biogas Plant in the Mathura district of Uttar Pradesh.
Torrent Power: Shares of Torrent Power soared 6 percent after the company bagged a 150-MW wind-solar hybrid project from its distribution unit. The project cost is Rs 1,825 crore and shall be commissioned within 24 months from the Power Purchase Agreement (PPA).
Globus Spirits: The Globus Spirits stock rallied 11 percent after the company said it commenced commercial production of additional capacity at two of its units at Singhbhum in Jharkhand and Burdwan in West Bengal. The additional capacity will be used for various products, including ENA and ethanol.
GM Breweries: Shares of G M Breweries jumped 12 percent after the company’s board said it would consider a proposal for issuing bonus shares in its April 4 meeting. The company will consider the issuance of bonus shares after six years. Earlier, bonus shares were issued in the ratio of 1:4 in 2018, 2016, and 2014.
EIH: Shares of EIH rose 5 percent after the company said it will invest Rs 421 crore to build an Oberoi luxury resort in Goa. The resort will come up at Cavelossim Beach in South Goa on a 52-acre site owned by the company.