Post Market Report: Market continues the bull run; Mama earth, Spicejet, Adani, M&M Financial services in news

Dalal Street ended higher on Tuesday led by Power and Banks.The Sensex rose 0.63% and the Nifty 50 index gained 0.81%. Nifty 50 index hit a fresh record high of 20,864. Sensex hit 69,381 in intraday trade.

In broader markets, the BSE midcap and Smallcap indices ended with marginal gains. Nifty Bank index also added over 1 percent to hit new record high at 47,230.55 intraday.

Stock in News Today

Honasa Consumer: The company shares went down 4 percent after a Rs 238-crore block deal involving around 62.90 lakh shares, representing a 2 percent stake in Mamaearth parent company Honasa Consumer took place on the exchanges.

Spicejet: Shares slipped 2.33 percent even though the National Company Law Tribunal (NCLT) dismissed a plea to initiate solvency proceedings against the airline filed by aircraft lessor Willis Lease Finance over unpaid dues.

Eureka Forbes: Shares rose by 2 percent after brokerage firm Nomura initiated neutral coverage for the company with a target price of Rs 568 indicating a 6 percent increase from current levels. The stock, however, lost some of the gains and closed at 0.68 percent in the green.

Adani Enterprises: The shares surged more than 10 percent to Rs 2,784.30 after A senior US official affirmed that the US government considered Hindenburg Research’s allegations of corporate fraud against Adani inconsequential. Its market capitalization topped Rs 3 lakh crore mark once again.

Adani Green Energy: Shares gained 20 percent and got locked in the upper circuit after the company announced that it secured an additional $1.36 billion in funding via a senior debt facility.

M&M Financial Services: Shares went down 2.7 percent even though the company said its disbursement had grown 16 percent year-on-year to Rs 5,300 crore in November.

Brigade Enterprises: The company Shares jumped 5 percent intraday after the company signed a joint development agreement (JDA) with land owners to develop a luxury residential project spread over 4 acres in Mysuru in Karnataka.