Shares of Larsen & Toubro (L&T) rose 2 per cent to Rs 1,393 on the BSE in intra-day trade on Wednesday after the company reported better-than-expected December quarter numbers. The consolidated net profit during the said quarter stood at Rs 2,467 crore, up nearly 5 per cent from the same period last year. On a consolidated basis, adjusted revenues from continuing operations fell 1.8 per cent YoY to Rs 35,596 crore.
Indian share market opened at a record high on Thursday, with the BSE Sensex index scaling the 50,000 level for the first time.
It opened at 50,096.57 and touched a fresh all-time high of 50,126.73 points. At 09:17 am, the Sensex was up 223.17 points or 0.45% at 50,015.29, and the Nifty was up 63 points or 0.43% at 14,707.70. About 1034 shares have advanced, 267 shares declined, and 68 shares are unchanged.
Shares of Punjab National Bank (PNB) slipped 8 per cent to Rs 37.25 on the BSE on Wednesday, falling 10 per cent in the past two trading days after the bank announced the opening of qualified institutional placement (QIP) issue on Tuesday. However, the share price of the state-owned lender has fallen below the QIP floor price of Rs 37.35 per share.
In the past month, the stock has run up strongly, rallying nearly 40 per cent till Monday. At 09:44 am, the stock was trading 6 per cent lower at Rs 38.15, as compared to 0.71 per cent rise in the S&P BSE Sensex. The counter has seen huge trading volumes, with a combined 87 million equity shares were changing hands on the NSE and BSE.
With India on the path to approving coronavirus vaccines for the public, raising bets of an economic recovery, key equity indices opened on a positive note on Wednesday with the BSE Sensex hitting another record high of 45,897.23 points.
Around 9.16 a.m., Sensex was trading at 45,846.68, higher by 238.17 points or 0.52 per cent from its previous close of 45,608.51 points.
Shares of Canara Bank gained 7 per cent to Rs 126 on the BSE in the early morning trade on Tuesday on the back of heavy volumes after the bank’s qualified institutional placement (QIP) opened for subscription.
The subcommittee of the board – capital planning process of the Bank has, at its meeting held on December 7, has approved and authorised the opening of the QIP, from December 7, 2020. It has also approved the floor price for the QIP at Rs 103.50 per equity share.
Shares of Tata Motors rose 4 per cent to 10-month high of Rs 186.75 on the BSE on Wednesday after the company reported 26 per cent year on year (YoY) growth in total domestic sales at 47,859 units in the month of November 2020. It had sold total 38,057 units in domestic market.
The stock of commercial vehicles company was trading at its highest level since January 31, 2020. In past one month, Tata Motors has outperformed the market by surging 40 per cent, against 12 per cent rise in the S&P BSE Sensex.
Shares of Lakshmi Vilas Bank (LVB) hit the 20 per cent lower circuit at Rs 12.40 on the BSE in intraday trade on Wednesday, after the government put the private sector lender under moratorium for at least a month.
That apart, the Reserve Bank of India (RBI) on Tuesday proposed to merge LVB with the India subsidiary of Singapore's DBS Bank.
Shares of Avenue Supermarts, which runs the DMart chain of stores in the country, rallied 6 per cent to Rs 2,505 on the BSE in the morning trade on Tuesday on expectation of better sales during festive season Diwali. The stock is 2 per cent away from its record high level of Rs 2,559, touched on February 13, 2020.
In the past month, the share price of Avenue Supermarts has zoomed 25 per cent, against a 10 per cent rise in the S&P BSE Sensex.
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