POST MARKET
The Indian stock market ended the volatile and range-bound trading session on a flat-to-positive note on Thursday, 4 June, as investors turned cautious ahead of the key Reserve Bank of India meeting amid US-Iran war-fuelled inflation and growth concerns.
Broader markets outperformed significantly. The Nifty Midcap 100 index closed 0.46% higher and the Nifty Smallcap 100 index 0.49%.
In the sectoral space, only metals and IT indices closed in the red, down 0.73% and 0.29%, respectively. Meanwhile, Nifty Media, up 2.19%, was the best performer, followed by PSU banks. Healthcare and Pharma also recorded healthy gains of up to 0.38%.
STOCKS IN NEWS
Zen Technologies Limited
Shares of drone manufacturers surged more than 7% in Thursday’s trade after a Reuters report said India is likely to place its largest-ever military drone procurement order, potentially worth more than $2 billion (Rs 20,000 crore), with domestic manufacturers expected to be key beneficiaries.
Tejas Networks
Shares of Tejas Networks rose nearly 6 percent on Thursday’s trade, extending their recent gains on optimism surrounding artificial intelligence-led infrastructure buildout.
Bharat Heavy Electricals
Shares of Bharat Heavy Electricals Ltd (BHEL) came under pressure on Thursday after global brokerage UBS downgraded the stock to Neutral from Buy, saying the risk-reward has become more balanced following the stock’s strong run over the past year. BHEL stock fell as much as 5.4 percent during the session to Rs 384.5 before recovering some losses. The stock was trading at Rs 391.95 in late afternoon trade, down 3.5 percent for the day.
Titan Company & Bluestone
Titan rose 3.67% and Bluestone rose 4.66 percent
due to Lifestyle shares ended higher on Thursday after the two companies outlined growth plans for their jewellery businesses.
Source: Mint, MoneyControl