Estimated reading time: 4 minutes
Stock Market Close : 03:30 PM
- Benchmark indices ended slightly higher on April 3 after a volatile session.
- Hero MotoCorp, Coal India, Bajaj Auto, Maruti Suzuki, and Eicher Motors were among the top gainers on the Nifty, while BPCL, Apollo Hospitals, Adani Enterprises, ITC, and Infosys were among the losers.
- The auto and PSU Bank indices gained 1 percent each, and the realty index rose nearly 1 percent, while FMCG, metal, power, oil & gas, and information technology stocks saw selling.
- The BSE midcap index was up 0.4 percent, while the smallcap index rose 1 percent.
Sensex and Nifty closed with marginal gains amid volatility, with auto and PSU banks rallying. Hero MotoCorp, Coal India, Maruti Suzuki, Bajaj Auto, and NTPC were among the top gainers on the Nifty. Coal India’s shares jumped nearly 3% as production in FY23 hit a 17-year high. Maruti Suzuki, Bajaj Auto, and Tata Motors are preferred picks according to Morgan Stanley. The government of Singapore offloaded Rs 670 crore shares in Phoenix Mills.
Waaree Renewable has received a Letter of Intent for 1 MW green hydrogen project execution in Maharashtra. Indices traded in the green, Nifty around 17,400; auto, financials gain; IT, metals drag. Bank of India hiked lending rates by 10-40 bps across tenures. Orient Electric has appointed Rajan Gupta as Managing Director & CEO. The BSE Power index shed 0.5 percent dragged by Adani Transmission, Adani Green Energy, Adani Power. SpiceJet shares flew 3% higher after hiving off the cargo and logistics wing.
Stock Market Highlights: 10:50 AM
- The S&P BSE Sensex is currently at 58,880.86.
- It has decreased by 110.66 points, or 0.19%, since the previous close.
- The market opened at 59,131.16.
- The highest point it reached today was 59,204.82, while the lowest was 58,842.89.
- These numbers were recorded as of 03 Apr 23 at 10:44 am.
Stocks in Focus today
- Hal, Rail Vikas Nigam, Shriram Finance, and G R Infraprojects are in focus for the day, as investors keep an eye on their performance.
- Hal has signed a memorandum of understanding with the Indian Space Research Organization (ISRO) for the production of lithium-ion batteries for satellites.
- Rail Vikas Nigam has secured an order worth INR 1,150 crore from the Indian Railways for the construction of a new railway line in Chhattisgarh.
- Shriram Finance is planning to raise INR 2,000 crore through a rights issue, which will help the company strengthen its capital base and expand its lending operations.
Investors are keeping an eye on Hal, Rail Vikas Nigam, Shriram Finance, and G R Infraprojects, as these companies are in focus for the day. These companies are likely to impact the market trend and attract investor attention.
Hal has signed a memorandum of understanding (MoU) with the Indian Space Research Organization (ISRO) for the production of lithium-ion batteries for satellites. This collaboration will help Hal strengthen its position in the space industry and contribute to the Make in India initiative. Hal is expected to benefit from the rising demand for satellites, which require advanced batteries that can withstand extreme conditions.
Rail Vikas Nigam has secured an order worth INR 1,150 crore from the Indian Railways for the construction of a new railway line in Chhattisgarh. This is a significant development for the company, as it strengthens its position in the railway construction industry. Rail Vikas Nigam has a proven track record of delivering high-quality railway infrastructure projects, and this order will add to its existing portfolio.
Shriram Finance is planning to raise INR 2,000 crore through a rights issue, which will help the company strengthen its capital base and expand its lending operations. This move is aimed at supporting the company’s growth strategy and meeting the increasing demand for credit in the market. The rights issue will also provide an opportunity for existing shareholders to increase their stake in the company.
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