Share Market HIGHLIGHTS: Nifty reclaims 19,500, Sensex ends 241 pts higher led by financial, IT shares

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Share Market HIGHLIGHTS | Nifty reclaims 19,500, Sensex ends 241 pts higher led by financial, IT shares

Nifty 50

Nifty reclaims 19,500 and finishes at 19,528.8, up 0.48 per cent.

Source: NSE

Sensex

Sensex ends 241 points higher at 65,628.14.

Source: BSE

Share Market HIGHLIGHTS | Coal India, Wipro, HCL Tech among  top gainers in Nifty basket,

Coal India, Wipro, UltraTech Cement and HCL Tech are among the top gainers in the Nifty basket, trading with gains of around 5-4 per cent. On the other hand, M&M, Nestle India, ITC, Axis Bank and Bajaj Finance are among the top losers, down around 1 per cent

Source: NSE

Share Market Today LIVE | Maruti Suzuki hits all-time high

Maruti Suzuki India shares gain by as much as 1.2 per cent to clock a fresh all-time-week high of Rs 10,465 apiece, surpassing an earlier peak of Rs 10,390 touched last on September 1, 2023.

EXPERT VIEW | Prashanth Tapse, Senior VP (Research), Mehta Equities's comment on Vishnu Prakash R Punglia IPO

“Considering robust demand response by investors in all categories, investors are eagerly waiting for VPRPL's listing and we expect 50 per cent and above listing gain from its issue price of Rs 99 apiece. We believe the premium listing is justified on the back of infrastructure sector-focused business model supported by the government long term goal along with 3.5x years of revenue visibility and investor-friendly IPO valuations which gives room for strong listing gains."

"Looking at long-term rationales, we recommend allotted investors to continue HOLDING investments in VPRPL, considering its high growth potential and reward investors post listing also and those investors who look to buy on the listing day can accumulate VPRPL if the listing is settled on a softer note due to any secondary markets scenario.”

Share Market Today LIVE | Power stocks gave electrifying returns in August; what next?

Power stocks have given electrifying returns in August. Stocks such as JSW Energy, Tata Power, CESC, SJVN, PFC, and CG Power rewarded investors handsomely. Individually, JSW Steel has given over 19 per cent returns, Tata Power has given over 4 per cent returns, CESC has climbed over 9 per cent, SJVN stock has risen over 11 per cent, and CG Power shares rose over 3 per cent during the month, according to Zee Business Research. Read more 

Share Market Today LIVE | L&T, Mtar Technologies, Mishra Dhatu Nigam stock rally after successful launch of Aditya L1

Shares of companies that contributed to the launch of Aditya L1, India's mission to study Sun, are a mixed bag on Monday. While Larsen and Toubro, Mtar Technologies, Paras Defence, Walchandnagar Industries, Hindustan Aeronautics (HAL), Bharat Heavy Electricals, and Mishra Dhatu Nigam shares traded between 1 per cent to nearly 5 per cent higher, the stock of Centum Electronics traded lower by 0.14 per cent.

India launched its first-ever solar observatory mission on Saturday, September 2. The Polar Satellite Launch Vehicle (PSLV), on its 59th flight with Aditya-L1 onboard, took off from the Satish Dhawan Space Centre in Sriharikota.

L&T manufactured critical space-grade hardware for the Aditya L1 mission. On Monday, shares of L&T gains1.5 per cent in the early trade to touch the day's high of Rs 2,742 apiece on NSE. 

Mtar Technologies 

The company supplied Vikas engines and electro-pneumatic models. The stock hit a 52-week high at Rs 2,877 apiece after the successful launch of Aditya L1. Read more 

Share Market Today LIVE | IRFC shares zoom 20% to hit record high - Buy, sell or hold?

Indian Railway Finance Corp. (IRFC) shares gain around 20 per cent to hit an all-time high of Rs 66.90 a piece on the National Stock Exchange (NSE) on Monday, i.e., September 4, 2023. The stock's trading volume is quite high.

IRFC shares hit record high - Buy, Sell or Hold?

AK Prabhakar -Head, Research, IDBI Capital Markets & Securities Ltd - is of the view that investors can book 50-60 per cent of profit. "IRFC has a stable business, and having an NPA is out of the question. But the return has already doubled. I advise investors to book 50–60 per cent of profit," Prabhakar told Zee Business. Read more 

Share Market Today LIVE | Infosys' shares gain after completing Danske Bank's IT centre acquisition in India

Shares of IT giant Infosys Ltd inch higher on Monday, September 4, after the company completed the acquisition of Danske Bank’s IT centre in India. Danske Bank selected Infosys as a strategic partner to accelerate digital transformation initiatives with speed and scale, and this follows the announcement of the strategic collaboration with Danske Bank made on June 26, 2023, the company announced on Friday, September 1. The counter trades up 0.73 per cent at Rs 1,454.4 on NSE.  Read more 

Stocks to Buy | Maruti Suzuki, ONGC, Tech Mahindra among top analysts' picks this week

In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Kunal Saraogi, Sandeep Jain and Sumeet Bagadia share their top recommendations for the day in this special segment, Pick of the Week. On the top analysts' 'buy' list are stocks such as ONGC, Tech Mahindra, BASF, Ambuja Cement, PowerGrid, Maruti Suzuki, Bank of Baroda, and M&M. Read more

Share Market Today LIVE | Metal stocks continue to shine: Tata Steel hits 52-week high, JSW Steel up 1%; here is why

Metal stocks rallies after an increase in the price of steel rebar. As per reports, steel rebar prices have increased by Rs 1,500–Rs 2,500 per tonne, and this is the fifth time in five weeks that the rebar prices have seen an appreciation, the report added. Among individual companies, JSW Steel has increased the rebar prices from Rs 54,000 per tonne to Rs 56,500 per tonne. 

S&P BSE Metal index trades nearly 3 per cent higher at 23,206.34 levels. Tata Steel hit a 52-week high of Rs 132.85 on the BSE while JSW Steel trades at Rs 811.2, up 0.6 per cent. Read more 

Share Market Today LIVE | Nazara Tech zooms 12%, clocks fresh 52-week high— here is why

Nazara Technologies shares zoom as much as 12.4 per cent to clock a fresh 52-week high of Rs 854 on NSE after the online gaming company informed the bourses that it would issue 14 lakh shares worth Rs 100 crore to Zerodha co-founder Nikhil Kamath's firms. The online gaming company briefed bourses that it would issue shares of the face value of Rs 4 each at a price of Rs 714 per equity share to Kamath's companies. The shares, worth nearly Rs 100 crore, will be issued to Kamath Associates and NKSquared -- a partnership firm represented by its partners Nikhil and Nithin Kamath, the Nazara Tech's BSE filing read. The fresh funds will be utilised to invest in funding requirements and growth objectives of the company, including for making strategic acquisitions and investments in various companies, the company said in a statement. Read more 

Here's how the stock has moved so far: 

Source: NSE

Share Market Today LIVE | MMTC shares lock in 20% upper circuit, hit new 52-week high

MMTC shares lock in 20 per cent upper circuit and hit a fresh 52-week high of Rs 52.5 on Monday. As many as 5,53,25,415 shares have exchanged hands on NSE so far.

Share Market Today LIVE | Spicejet, Indigo jump after windfall tax reduced; Jet Airways slides after arrest of its founder Goyal

Spicejet and InterGlobe Aviation, the parent company of IndiGo Airlines, are trading higher in morning deals on Monday after the government cut down on windfall taxes on locally produced crude oil on Saturday, while embattled Jet Airways trades lower after the arrest of its founder Naresh Goyal on Friday night. Read more 

Share Market Today LIVE | A cement maker gets a big thumbs-up from Nomura; analysts see 19% upside

Shree Cement shares are in high demand after Nomura upgraded the private sector cement manufacturer to 'buy' from 'reduce' and lifted its price target for the stock by Rs 8,300, or 40.7 per cent, to Rs 28,700 apiece. The stock of the Rajasthan-based cement maker has jumped by as much as Rs 869, or 3.6 per cent, to Rs 25,011.6 apiece in early deals on BSE, rising for a second straight trading session. The brokerage’s target implies an upside of around 19 per cent in Shree Cement shares from their previous close.

What’s driving Shree Cements shares higher?

The cement maker took a price hike to the tune of 10-35 per cent across regions this month, following a price cut of 1-2 per cent the previous month. Analysts see higher demand for the company going forward in view of some moderation in rainfall in the country.

What Nomura says on Shree Cement?

According to the brokerage, which upgraded the Shree Cement stock to ‘buy’ from ‘reduce’, the cement maker is likely to benefit from its cost optimization drive, its strong capacity growth, and the change in management. Nomura expects Shree Cement’s balance sheet to remain strong despite its elevated capital expenditure (capex). Read more