Benchmark indices were trading lower in early deals today (August 11). The 30-share Sensex fell 231 points to 65,456 and Nifty lost 70 points to 19,472.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Inflation data from the US indicate that the soft landing narrative is intact. The Fed is likely to pause in September. This will support global equity markets. The indication from the RBI is that a rate cut can be expected only in Q1 of FY 25. This will be a headwind for the market. But the market is likely to remain strong. Banks, capital goods and autos are likely to do well, going forward.”
Shares of IRCTC rose 5% to Rs 678.90 on BSE today against the previous close of Rs 646.35 on BSE. Market cap of the firm rose to Rs 54,264 crore on BSE. IRCTC stock also touched an intraday low of Rs 645.35 on BSE.
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Shares of LIC gained 5.42% to Rs 676.95 on BSE post Q1 earnings. Market cap of the firm rose to Rs 4.19 lakh crore. The stock rose on the back of stellar Q1 earnings. Life Insurance Corporation of India Ltd (LIC) clocked a nearly fourteen-fold surge in June quarter profit, as it moved money to a shareholders' fund to shore up its bottom-line. LIC reported a profit of Rs 9,544 crore for the first quarter compared with Rs 683 crore in the same quarter last year.
Shares of Pidilite Industries, the maker of adhesive brand Fevicol, rose 1.5% to Rs 2,557.80 after the firm reported over 32% rise in first-quarter profit, aided by strong demand and reduced input costs. The company's consolidated net profit rose to Rs 46.8 crore($56.53 million) in Q1. Market cap of the firm rose to Rs 1.28 lakh crore. Total 0.12 lakh shares of the firm changed hands amounting to a turnover of Rs 2.95 crore on BSE.
Shares of the renewable energy firm are in focus today due to high volume and turnover on BSE. 224.90 lakh shares changed hands amounting to a turnover of Rs 46.25 crore on BSE. The stock was trading flat at Rs 20.40 against the previous close of Rs 20.53. Market cap of Suzlon Energy stood at Rs 25,340 crore.
Shares of NCC hit a fresh 52-week high of Rs 162 today post Q1 earnings. Market cap of the firm rose to Rs 9,772 crore. Total 2.03 lakh shares of the firm changed hands amounting to a turnover of Rs 3.19 crore on BSE.
Shares of Raymond hit a fresh 52-week high of Rs 2,015 today on BSE. Market cap of the firm rose to Rs 13,307 crore. Total 9,396 shares of the firm changed hands amounting to a turnover of Rs 1.87 crore on BSE.
Shares of HCC were trading over 7% higher at Rs 25.19 today. Market cap of the firm rose to Rs 3,815.86 crore. Total 138.28 lakh shares of the firm changed hands amounting to a turnover of Rs 35.10 crore on BSE.
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