Markets soared on Monday with the Nifty reclaiming the 24,100 mark and Bank Nifty hitting a record high of 55,461. Midcaps outperformed sharply, with the index rallying over 2%. Banking giants HDFC Bank and ICICI Bank scaled new highs post their Q4 earnings, while the Nifty IT index surged, driven by Tech Mahindra’s best single-day show in nearly a year. All sectoral indices closed in the green — except FMCG. Nifty closed at 24,125 while Sensex rose 855 points.
Vodafone share prices surge over 10% after the Government of India (GoI) increased its stake in the company from 22.60% to 48.99% by converting a portion of the company’s spectrum payment dues into equity shares worth Rs 36,950 crore.
HDFC AMC shares shot up over 5% today. This comes amid the Nifty Bank index seeing some of its best trading sessions in recent times, crossing its previous peak zone of Rs 54,470 to Rs 55,321.
Nippon Life India Asset Management jumped over 7% today. The company's strong dividend yield, positive financial results, and the broader market's upward momentum collectively contributed to its stock’s performance.
Just Dial shares rallied 13% after the company reported a 61% jump in net profit to Rs 584 crore. The quarterly results were announced on Friday, and the stock rallied sharply when markets reopened on Monday. For the January-March quarter of FY25, Just Dial logged a profit of Rs 157.6 crore.
Suzlon Energy share price rose nearly 5% on Monday following a draft notification from the Ministry of New and Renewable Energy, which mandates local sourcing of key components used in wind turbine manufacturing. Shares of Suzlon Energy surged to an intraday high of Rs 57.65 per share on the NSE
Gensol Engineering shares fell another 5% in today’s trading session, continuing on its failing streak. Gensol has come under SEBIs radar after alleged fund diversion and misleading disclosures. The losses come after the market regulator Securities and Exchange Board of India (SEBI) passed an interim order against the firm and its promoters, over alleged fund diversion.
Adani Ports shares declined as much as 4 percent today, which was the most in two weeks. This comes amid the firm's $2.5-bn deal for Australian coal export terminal. Motilal Oswal has maintained its rating of 'Buy' on Adani Ports with a target price of Rs 1,560.
ITC shares fell over a percent in todays trading session. This movement comes amid their acquisition deal. The Indian conglomerate has signed an agreement to acquire the remaining 73.5% stake in Mother Sparsh Baby Care Pvt Ltd, a premium ayurvedic and natural baby care brand.
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