Stock Market Highlights, July 9: Sensex rises 391 pts, Nifty holds 24,400; Maruti leaps 6%, ITC 2%

Stock Market Highlights on July 09, 2024: The benchmarks Nifty, and Sensex indices hit record highs in intraday trade

SI Reporter New Delhi

11:22 AM

Power shares in demand; Adani, Torrent, CESC rally up to 10% on July 9

Shares of power companies were in demand on Tuesday as they rallied up to 10 per cent on the bourses. The optimism comes as analysts anticipate policy reforms and new initiatives in the power sector to continue under Modi 3.0.

CESC, Adani Power and Torrent Power rallied between 5 per cent and 10 per cent. NHPC, Adani Green Energy, Bharat Heavy Electricals (BHEL), Tata Power, and ABB, meanwhile, from the BSE Power index gained in the range of 1 per cent to 3 per cent. Read more

10:58 AM

Godrej Industries shares zoom after promoters buy stake worth Rs 3,800 cr

Shares of Godrej Industries soared up to 3.2 per cent at Rs 928 per share on the BSE in Tuesday’s early morning deals. The stock price surge came after the promoter entities of Godrej Industries Ltd. exchanged shares worth Rs 3,800 crore via open market deals on Monday.

RKN Enterprises sold 42.5 million shares for Rs 893.05 apiece, as per block deal data on the BSE. The aggregate deal value stands at Rs 3,800 crore. Read more

10:43 AM

Torrent Power up 5% on pact with ARS, TU14 for solar projects in Tamil Nadu

Torrent Power in focus: Shares of Torrent Power rallied as much as 5.16 per cent to hit an intraday high of Rs 1,548.70 per share on Tuesday.

The rise in the stock price came afterTorrent Power entered into a deal with ARS Steels & Alloy International and Torrent Urja 14 for setting up 50 MWp solar projects in Tamil Nadu (TN). Read more

10:23 AM

LT Foods, KRBL, Kohinoor: Rice stocks zoom up to 15% on Tuesday; here's why

Rice stocks rally: Shares of rice producing companies were in demand on Tuesday, July 9, with individual stocks surging up to 15 per cent on the BSE in the intraday trade. The upmove comes amid a report that the Indian government is looking to relax restrictions on exports of some varieties of rice to avoid a glut in the country.

Among individual stocks, shares of L&T Foods advanced 15.3 per cent (Rs 297.95), Chaman Lal Setia rallied 14 per cent (Rs 234.8), KRBL 12.9 per cent (Rs 348.8), Kohinoor Foods 9.7 per cent (Rs 46), and GRM Overseas 9.4 per cent (Rs 226.7). Meanwhile, Adani Wilmar, and Sarveshwar Foods were up 1 per cent and 4 per cent, respectively, at 9:40 AM as against 0.21 per cent rise in the benchmark BSE Sensex. Read more

10:13 AM

KPI Green extends rally on inking hybrid power purchase deal with GUVNL

Shares of KPI Green extended its rally as the stock soared as much as 3.28 per cent to hit an intraday high of Rs 1,899 per share on Tuesday. The uptick in share price came on the back of KPI Green signing a 50MW hybrid power purchase deal with Gujarat Urja Vikas Nigam Limited (GUVNL). Read more

9:59 AM

Asian shares edge higher, markets hope for dovish stance from Powell

Asian shares tracked Wall Street higher on Tuesday as markets hoped the US Federal Reserve Chair Jerome Powell would sound dovish about easing prospects later in the day, while the dollar steadied near four-week lows.

The euro reclaimed some lost ground, French shares whipsawed, while the risk premium of French bonds over German narrowed as investors digested shock election results that left France facing a hung parliament. Read more

9:45 AM

Crisis-hit Paytm expands ESOP pool with 280k stock options for staff

Fintech major Paytm, owned by One97 Communications, announced the expansion of its employee stock option plan (ESOP) pool by allocating 281,394 equity shares to its staff, a move that is generally aimed at retaining talent.

According to a stock exchange filing of July 7, Paytm said it approved the allotment of 281,394 equity shares having a face value of Rs 1 each, as fully paid-up, to the eligible employees. Read more

9:35 AM