Produced by: Prashun Talukdar Designed by: Mohsin Shaikh
"US Fed's decision to leave rates unchanged lifted the world equity market mood, including India which saw benchmark indices reach yet another record highs on the back of a frenzied buying support. Besides, falling crude oil prices and foreign investors pumping in money into domestic equities has bolstered investor sentiment. With India continuing to post strong growth numbers and hopes of rate cut expected in the middle of next year, optimism in equity markets could continue in the medium term," said Prashanth Tapse, Senior VP (Research) at Mehta Equities.
On the stock-specific front, Texmaco Rail, IRCON, Dr Reddy's, Ami Organics, Titagarh Rail and some other counters will be in focus today.
Shares of Texmaco Rail & Engineering Ltd jumped 6.34% to close at Rs 171.10 in the previous trading session. The company said Railway Ministry has awarded an order for manufacturing and supplying 3,400 wagons, valuing Rs 1,374.41 crore.
Shares of Ami Organics rose 3.70% to close at Rs 1,138. The company said it has entered into definitive agreement with Fermion (subsidiary of Orion Corporation, Finland) for manufacturing of two advanced pharmaceutical intermediates product.
IRCON International shares gained 6.90% to close at Rs 172.05. The railway PSU said the Centre is proposing to offer up to 1,32,000 equity shares of face value of Rs 2 each to the eligible employees of the company at a price of Rs 158.70 per equity share. The employee OFS shall remain open from December 18 to December 19, 2023.
Shares of Mahindra Finance surged 6.57% to settle at Rs 289.40. The company said it will enter life, health and general insurance segments.
Shares of Sterling and Wilson Renewable Energy shed 0.14% to close at Rs 424.10. The company has announced completion of Rs 1,500 crore fundraise via qualified institutional placement (QIP) route.
Shares of Infibeam Avenues climbed 0.45% to settle at Rs 22.41. The company said it has forayed into the capital markets and digital lending software market by acquiring a significant 49% equity stake in Pirimid Fintech.
Shares of Dr Reddy's Laboratories slipped 0.41% to close at Rs 5,570.80. Dr Reddy's said it has become the first Indian pharma company to earn a place in the Standard & Poor Dow Jones Sustainability World Index (DJSI World) for 2023.
Shares of Somany Ceramics settled with 1.19% gains at Rs 763.30. The stock will trade ex-buyback today.
Shares of Titagarh Rail Systems fell 1.20% to close at Rs 1,008. The company said it has raised Rs 700 crore through QIP.
Shares of Hero MotoCorp rose 0.43% to close at Rs 3,880.95. The stock will trade ex-dividend today. The company has approved an additional investment of Rs 140 crore in electric-scooter maker Ather Energy, increasing Hero's stake in the company to 39.7% from 36.7%.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.