Stock Market Highlights on March 14, 2024: Positive global cues drove Indian benchmark indices higher on Thursday. The Sensex, opening lower at 72,570.10, surged to an intraday high of 73,364.30, closing at 73,097.28, up 335.39 points or 0.46%.
Similarly, the Nifty 50, initially opening lower at 21,982.55, reached an intraday high of 22,204.60 before settling at 22,146.65, up 148.95 points or 0.68%. Despite early dips, both indices closed positively, reflecting market optimism influenced by global trends
Stock Market Highlights Today
1. On BSE, top five losers were Prestige, KPIGREEN Energy , Green Panel Industries SBCL (Shivalik Bimetal Control), SWSOLAR (Sterling and Wilson Renewable Energy). The top 5 gainers today on BSE were SJVN, BLS International Services, ACE(Action Construction Equipment),ITI Ltd.
2. Reliance Industries announced acquisition of a 13.01% stake in Viacom 18 Media Private Limited from Paramount Global’s subsidiaries, as per a stock exchange filing.
3. Jet Airways stocks surged 4.98% to Rs 47.45, hitting the upper circuit limit in Thursday’s trading session
4. Hindustan Aeronautics Ltd.’s shares rise 2% after securing Rs 8,073 crore orders from the defense ministry.
5. Gopal Snacks debuted on the stock market with shares listing at Rs 351 per share on NSE and Rs 350 per share on BSE, a discount of over 12% from the IPO price band of Rs 381 to Rs 401 per share.
6. SJVN’s shares surge over 13% as it secures a Rs 2,700 crore deal with Gujarat Urja Vikas Nigam for a 500 MW solar project. The project, slated for commissioning in 18 months at GIPCL Solar Park in Khavda, Gujarat, showcases the company’s significant progress.
7. HSBC has downgraded IIFL Finance to underperform from buy, slashing target price to Rs 340 from Rs 790, a reduction of Rs 450 per stock.
Also Read: 10 highlights from Stock Market Today (March 13)
8. Krystal Integrated Services has finalized IPO allotment on March 19, aiming to list shares on BSE and NSE by March 21. IPO price band: Rs 680-715/share. Retail investors can apply for 20 shares (Rs 14,300), small non-institutional investors for 280 shares (Rs 2,00,200), and big non-institutional investors for 1,400 shares (Rs 10,01,000). Public offer: Rs 300 crore, with 50% reserved for QIBs, 35% for retail, and 15% for non-institutional investors.
9. Adani Green Energy shares soared 9.5% as its subsidiary inked a 534 MW solar power deal with SECI. The company, with a total capacity of 21,778 MWac, targets 45,000 MW by 2030. It swiftly operationalized 1,000 MW in Gujarat’s RE park within 12 months. Q3FY24 witnessed a 149% surge in net profit to Rs 256 crore.
10. Tata Motors signs MoU with Tamil Nadu Govt to establish vehicle manufacturing unit, investing Rs 9,000 crore over five years. The collaboration aims to create 5,000 jobs, facilitated by Guidance, Tamil Nadu’s investment promotion agency.
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