Share Market Updates: On Tuesday, the stock of Zee Entertainment gained 40 percent. Amy Organics saw a rise of 53 percent. Know which stocks are in discussion today.
Rating agency CRISIL has improved the rating of Jindal Steel Power Limited.
After the decline of the first day of the week, the stock market closed with a sharp rise on Tuesday. The Sensex registered a gain of 69 points, while the Nifty registered a gain of 25 points. The Sensex closed at the level of 58247, while the Nifty all-time high closed at a record high of 17380. Foreign investors made purchases of 1649 crores. At the same time, domestic institutional investors sold Rs 310 crore. Overall, institutional investors have made purchases of Rs 1339 crore. Know about which shares are in discussion today. Veteran investor Rakesh Jhunjhunwala has bought 50 lakh shares in Zee Entertainment. Apart from this, Bank of America Merrill Lynch Europe SA has also bought 48 lakh 65 thousand 513 shares of the company at a price of Rs 236.20 per share. The stock of Zee Entertainment recorded a rise of 40 percent on Tuesday.
Shree Cement will open two new plants
Kolkata-based Shree Cement said it will invest Rs 4,250 crore for new plants in Bengal and Rajasthan. Both plants will open by 2024. Apart from this, the company will invest Rs 500 crore separately for 106 MW solar plant. The shares of this company are very expensive. In such a situation, the interest of retail investors towards such shares is very less.
Zomato Founder Farewell
Zomato co-founder Gaurav Gupta has quit after 6 years. Recently, the company’s IPO came, about which there was a tremendous craze among the investors. Gaurav Gupta was playing an important role in bringing the company’s IPO. Gupta had joined Zomato in 2015. In 2018 he was appointed Chief Technical Officer and in 2019 as Founder. Earlier, Zomato had said that it is exiting the grocery delivery business.
Rating of Jindal Steel Power Upgraded
Rating agency CRISIL has improved the rating of Jindal Steel Power Limited. The company’s rating has been changed from ‘A-‘ to ‘A+’. Apart from this, Outlook has been changed from stable to positive. In August, the company’s output had registered a growth of 6 per cent, while sales jumped 4 per cent.
Hope for relief to the telecom sector
It is believed that the government can soon announce relief for the telecom sector. Amidst the expectations of this relief, the shares of Bharti Airtel, Vodafone Idea and Indus Towers are seeing a rise. If Vodafone Idea gets relief, then the shares of IndusInd Bank and IDFC First Bank will also rise. Yes Bank’s share is also increasing continuously. Actually the bank is engaged in the resolution of its bad loans.
Bumper boom in Ami Organics
Special Chemicals Manufacturer Amy Organics Ltd. Shares of BSEB closed at a premium of over 53 per cent against the issue price of Rs 610 on the first day of listing on the stock exchanges. The shares of the company were issued at Rs 610 in the IPO. Shares of the company opened at Rs 902 registering a rise of 47.86 per cent over the issue price on listing on BSE. During the day, it jumped 58.56 percent to reach Rs 967.25. At the close of trading, it closed at Rs 934.55 with a gain of 53.20 percent against the issue price. Here Vanaja Sundar has bought 5 lakh shares at the rate of Rs 909 per share.
LIC increased stake
LIC Housing Finance: Life Insurance Corporation has increased its stake in LIC Housing Finance from 40.313 per cent to 45.239 per cent.
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