Benchmark indices were trading lower in early deals today (August 10). The 30-share Sensex fell 300 points to 65,695 and Nifty lost 79 points to 19,553.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The market will be focused on the MPC’s decisions on rates, stance and communication on tone. The near market consensus is that the rates and stance will remain unchanged and the tone will be hawkish in view of the high inflation. Any deviation from these expectations can move the markets. Globally markets would be focused on the U.S. CPI numbers to be released today. The Fed’s rate action will be based on that. The disinflationary process in the US is likely to continue.”
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Shares of Berger Paints dropped over 1.5% to Rs 682 on BSE after the firm reported a nearly 40% YoY jump in its consolidated net profit for the quarter ended June 2023 at Rs 355 crore. Market cap of the firm fell to Rs 66,819 crore on BSE. Total 0.79 lakh shares of the firm changed hands amounting to a turnover of Rs 5.47 crore on BSE.
IRCON stock hit a record high of Rs 110.24 on August 10. The railway stock gained 3.51% to hit its all-time high of Rs 110.24 in early deals today. Market cap of the firm rose to Rs 10,139 crore on BSE. Total 5.68 lakh shares of the firm changed hands amounting to a turnover of Rs 6.16 crore on BSE. On the other hand, the railway engineering and construction stock hit a 52-week low of Rs 38.60 on September 26, 2022.
ZEE Entertainment shares rose 1.07% to Rs 244.70 on BSE ahead of the NCLT's order on ZEE regarding the Sony merger later today. A day ago, ZEE reported Rs 53.4 crore in losses for the June quarter against a profit of Rs 106 crore in the same period last year.
Hero MotoCorp shares were trading flat ahead of their Q1 results today. The stock fell 0.19% to Rs 3051 on BSE. Market cap of the firm stood at Rs 60,979 crore. Total 5,493 shares of the firm changed hands amounting to a turnover of Rs 1.67 crore on BSE.
Shares of renewable energy firm Suzlon Energy rose 5% intraday to Rs 20.53 on BSE against the previous close of Rs 19.56. Market cap of Suzlon Energy rose to Rs 24,303 crore. Turnover and volumes were high for the Suzlon Energy stock with 343.66 lakh shares changing hands amounting to a turnover of Rs 70.10 crore on BSE. The stock rose after the board of wind turbine maker announced the launch of a qualified institutional placement (QIP) offering to raise as much as Rs 2,000 crore.
IRCTC stock fell nearly 2% to Rs 635.20 against the previous close of Rs 648.80 on BSE. It opened flat at Rs 648.80. Total 1.48 lakh shares of the firm changed hands amounting to a turnover of Rs 9.45 crore on BSE. Market cap of IRCTC stood at Rs 50,892 crore. IRCTC reported a 5.42% fall in its Q1 profit to Rs 232.21 crore against Rs 245.52 crore in the same quarter of the previous financial year.
Bata India stock fell 3.1% to Rs 1,646.35 against the previous close of Rs 1,700 on BSE. It opened lower at Rs 1679. Total 0.21 lakh shares of the firm changed hands amounting to a turnover of Rs 3.43 crore on BSE. Bata India reported a 10.3% fall in consolidated net profit to Rs 106.8 crore in the June quarter from Rs 119.3 crore a year ago.
Shares of ION Exchange climbed 7.12% to Rs 503 on BSE. Market cap of the firm rose to Rs 3,944 crore. Total 1.24 lakh shares of the firm changed hands amounting to a turnover of Rs 2.31 crore on BSE.
Shares of Varroc Engineering climbed 15% to Rs 401.60 on BSE. Market cap of the firm rose to Rs 6,019 crore. Total 1.46 lakh shares of the firm changed hands amounting to a turnover of Rs 5.68 crore on BSE. The stock is the top gainer on BSE.
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