Gainers and Losers: There was pressure in the market on Nifty Bank expiry and both Sensex and Nifty closed with a decline. Today, there was selling from the top in the Midcap and Smallcap indices. Nifty Bank, IT indices closed with a decline. On the other hand, there was a decline in Oil-Gas, PSE, Energy stocks. There was pressure on Metal, Auto, Realty stocks while FMCG indices closed with a gain. At the end of trading, Sensex closed at 81,523.16 with a decline of 0.49 percent i.e. 398.13 points. Nifty closed at 24,918.45 with a decline of 0.49 percent i.e. 122.65 points.
Prism Johnson | CMP: Rs 227.80 | Prism Johnson’s stock closed with a gain of 9 percent on September 11. The company’s shares saw a rise due to a huge increase in volume. On September 11, transactions were done in more than 7 crore shares of the company, while its one-month trading volume is 37 lakh shares.
Century Textiles and Industries | CMP: Rs 2,600 | The stock rose more than 7 per cent to a new record high of Rs 2,689 on the National Stock Exchange. Today, the stock closed with a gain of 4 per cent. The surge in the stock came after the Aditya Birla Group-owned company acquired about 10 acres of land in Worli, Mumbai from Wadia Group chairman Nusli Wadia for Rs 1,100 crore.
Suzlon Energy | CMP: Rs 81.95 | Shares of Suzlon Energy hit an upper circuit of 5% for the third consecutive day today on 11 September. Two reasons are being cited behind this rise. Foreign brokerage firm Morgan Stanley has recently reiterated its ‘overweight’ rating on the stock. At the same time, the company has received the country’s largest wind energy order so far from NTPC’s associate firm NTPC Green Energy Limited. Due to these two news, shares of Suzlon Energy have been rocketing for the last 3 days.
Paint Stocks | Shares of paint companies like Indigo Paints, Shalimar Paints, Kansai Nerolac, Asian Paints and Berger Paints rose 1-3 per cent after crude oil prices hit a nearly 3-year low.
Shoppers Stop | CMP: Rs 886 | Today the stock closed with a gain of 8 per cent. In fact, in August, Shoppers Stop announced a strategic collaboration with Hollywood makeup brand Max Factor. With today’s rise, the company’s market cap has increased to Rs 9,756 crore. The 52-week low of the stock is Rs 623.
Infibeam Avenues | CMP: Rs 29.35 | Today, the stock closed with a decline of 8 per cent. This decline came on a day when the stock has become ex-dated for the spin-off of Odigma Consultancy Solutions from today. Under this process, every shareholder of Infibeam Avenues will be allotted shares of Odigma in the ratio of 1:89. For this, the company had kept the record date today, September 11. The record date will decide which shareholders will be eligible for the allotment of this new share.
Tata Motors | CMP: Rs 976.40 | Today the stock closed with a decline of 5.7 percent. UBS has reiterated its ‘sell’ opinion on Tata Motors shares. The brokerage said that the risk of decline in margins of Tata Motors’ British subsidiary Jaguar Land Rover (JLR) and India’s passenger vehicle segment remains. Due to this, UBS has maintained a target price of Rs 825 for Tata Motors shares, which indicates a decline of more than 20% from the current level.
SAMIL | CMP: Rs 184.13 | BMW has reduced guidance for 2024. Many ancillary companies in India supply parts to BMW. BMW contributes 5% to the company’s income. The company expects demand from China to remain sluggish. BMW has reduced delivery and margin guidance for 2024.
Oil India, ONGC: Shares of state-owned upstream oil companies Oil and Natural Gas Corporation (ONGC) and Oil India fell up to 6 per cent on profit-booking as crude oil prices fell to a 3-year low.