Sensex closed 584 points or 0.7 percent higher at 81,634 and the Nifty was up 239 points or nearly 1 percent at 25,035. About 2,884 shares advanced, 895 shares declined, and 94 shares unchanged.
2/11
HEG | Rs 2,448 | The stock surged over 10 percent after the company acquired an 8 percent stake in industry rival GrafTech International for Rs 250 crore. GrafTech specialises in the production of graphite electrodes, a segment closely aligned with HEG's core business.
3/11
Varun Beverages | Rs 590 | Shares of Pepsico bottler Varun Beverages surged 9 percent, snapping a three-day losing streak. The gain in the stock comes a day ahead of the board meeting to consider a proposal to raise funds via Qualified Institutions Placement (QIP).
4/11
Skipper | Rs 501 | The stock zoomed over 13 percent after Nuvama Institutional Equities initiated coverage on the stock with a buy call with a target price of Rs 650 per share. This implies a 46 percent upside from the last closing price.
Paytm | Rs 751 | Shares of the Vijay Shekhar Sharma-led fintech surged more than 15 percent on heavy volumes. With this move, the stock has turned positive on a year-to-date basis, now trading with gains of 15 percent so far in 2024.
6/11
SpiceJet | Rs 62.5 | The stock jumped more than 8 percent after the airline announced plans to induct 10 new aircraft into its fleet by the end of November, in continued turnaround efforts following a significant Rs 3,000-crore fundraise.
7/11
Reliance Power | Rs 46 | The stock continued its decline, hitting the 5 percent lower circuit for the fourth consecutive session as investors engaged in profit-booking. The stock is now trading 11 percent below its 52-week high of Rs 53.64, which it reached last week.
8/11
Godrej Consumer Products | Rs 1,305 | The stock slipped three percent after the firm said it expects mid-single-digit consolidated sales growth for the September quarter, in its latest business update.
NMDC | Rs 219 | Shares of metal companies, with NMDC leading the losses, fell upto 4.3 percent after China's state planner announced a roadmap to boost the economy, but lacked new plans for major stimulus. This utterly disappointed investors who were hoping for more fuel to fast-track the economic revival and clarity on plans to deliver already announced measures.
10/11
Tata Steel | Rs 160 | Tata group firm Tata Steel languished in the red, along with the rest of the metals pack, after the lack of a fresh stimulus coming out of China. The stock fell over 3 percent despite brokerage Morgan Stanley upgrading the counter to ‘equal-weight’ last week.
11/11
SBI Life | Rs 1,728 | SBI Life shares fell over 3 percent despite a positive market sentiment. Given the fall in SBI Life shares today, the tumble wiped out Rs 5,000 crore in investors’ wealth. The stock is currently trading above its 100-day and 200-day moving average (SMA).
