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BAROMETERS EXTEND GAINS; FMCG STOCKS IN DEMAND

Published on Oct 28, 2024 10:35

The frontline indices extended gains in morning trade. The Nifty traded above the 24,350 level. FMCG shares edged higher for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex jumped 786.95 points or 0.99% to 80,189.24. The Nifty 50 index added 187.55 points or 0.78% to 24,368.35.

In the broader market, the S&P BSE Mid-Cap index gained 0.35% and the S&P BSE Small-Cap index rose 0.24%.

The market breadth was positive. On the BSE, 2,011 shares rose and 1,636 shares fell. A total of 189 shares were unchanged.

New Listing:

Shares of Waaree Energies were currently trading at Rs 2,325.25 at 10:13 IST on the BSE, representing a premium of 54.71% as compared with the issue price of Rs 1,503.

The scrip was listed at Rs 2,550, exhibiting a premium of 69.66% to the issue price. So far, the stock has hit a high of 2,600 and a low of 2294.55. On the BSE, over 13.77 lakh shares of the company were traded in the counter so far.

Shares of Deepak Builders & Engineers India were currently trading at Rs 171.20 at 10:21 IST on the BSE, representing a discount of 15.67% as compared with the issue price of Rs 203.

The scrip was listed at Rs 198.50, exhibiting a discount of 2.22% to the issue price. So far, the stock has hit a high of 198.85 and a low of 170.90. On the BSE, over 2.89 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty FMCG index rose 0.67% to 59,303.65. The index advanced 1.55% in two consecutive trading sessions.

Balrampur Chini Mills (up 1.93%), Colgate-Palmolive (India) (up 1.34%), Hindustan Unilever (up 1.23%), Dabur India (up 1.09%),x Radico Khaitan (up 1.07%) and Britannia Industries (up 0.91%), Nestle India (up 0.6%) advanced.

On the other hand, United Breweries (down 2.51%), Marico (down 2.12%) and Procter & Gamble Hygiene and Health Care (down 1.87%) edged lower.

Stocks in Spotlight:

Power Mech Projects declined 0.52%. The company has incorporated a new step down subsidiary on 24 October 2024, named �P M T S Technology L.L.C� in Dubai.

Kewal Kiran Clothing (KKCL) jumped 4.97% after the company�s consolidated net profit jumped 36.23% to Rs 67.65 crore on 17.43% increase in revenue from operations to Rs 308.23 crore in Q2 FY25 over Q2 FY24.

OM Infra shed 0.90%. The company announced that it has won a significant new hydro-mechanical (HM) works order valued at Rs 410 crore from the Chenab Valley Power Projects, Jammu and Kashmir.

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