Sensex Today Ends 66 Points Higher | Nifty Tops 22,400 | BHEL Soars 13%, Oil India 5%

Mon, 4 Mar Closing

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After opening the flat, Indian share markets turned positive as the session progressed and ended the day higher.

Equity markets were highly volatile on Monday as investors looked for decisive cues.

At the closing bell, the BSE Sensex stood higher by 66 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 27 points (up 0.1%).

NTPC, ONGC and BPCL were among the top gainers today.

Eicher Motors, JSW Steel and Britannia on the other hand, were among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 22,511 up by 17 points.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day higher. The BSE Mid Cap ended marginally higher and the BSE Small Cap index ended 0.8% lower.

Sectoral indices are trading positive, with socks in oil & gas sector and power sector witnessing buying. Meanwhile stocks in media sector and auto sector witnessed selling pressure.

Shares of Bosch, ABB India and Siemens hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 82.89 against the US$.

Gold prices for the latest contract on MCX are trading marginally higher at Rs 63,609 per 10 grams.

Meanwhile, silver prices are trading flat at Rs 72,266 per 1 kg.

Speaking of stock markets, co-head of Research at Equitymaster Tanushree Banerjee talks about HUL and Dixon Technologies, in her latest video.

Which is the safer stock to go with in a market crash?

Tune in to the below video to find out:

Why Tata Investment Share Price is Rising

In news from the finance sector, shares of Tata Investment Corporation rose 21% in four sessions after the Union Cabinet approved two semiconductor plant proposals by the Tata Group last week.

Meanwhile, the stock also hit an upper circuit of 5% at Rs 8,417.6 in Monday's trade. This was the third consecutive upper circuit in the stock.

Tata Electronics will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC), Taiwan. This unit will be constructed in Dholera, Gujarat. The plant will attract Rs 910 bn investment.

The Cabinet also approved Tata Semiconductor Assembly and Test chip assembly and testing unit in Assam at an investment of Rs 270 bn. This will be the first investment in a semiconductor packaging plant by the Assam government. It will be built jointly by the state government and Tata Group.

This marks the beginning of a new era for India. Tata Electronics is proud to play a prominent role in strengthening the global semiconductor ecosystem.

For more, check out the Top 5 Multibagger Tata Group Stocks to Watch Out in 2024.

Gopal Snack IPO

Moving on, Gopal Snacks, also known as Gopal Namkeen, has launched an initial public offer to raise Rs 6.5 bn. The savoury snack maker's offer is purely an offer for sale of 16.2 m shares, and its anchor book will open on 5 March.

The IPO will open for subscription on 6 March 2024 and close on 11 March 2024.

To garner Rs 6.5 bn from the issue, promoters Gopal Agriproducts and Bipinbhai Vithalbhai Hadvani will be selling equity shares of Rs 5.2 bn and Rs 800 m in the OFS, while the rest of Rs 500 m will be sold by Harsh Sureshkumar Shah.

Due to the nature of the issue, the company will not receive any proceeds from the offer, and all proceeds will be received by the selling shareholders.

Investors can bid for a minimum of 37 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 14,097 (37 (lot size) x Rs 381 (lower price band)).

At the upper end, the bidding amount will increase to Rs 14,837.

Founded in 1999, Gopal Snacks is an FMCG company that deals in ethnic and western snacks and other products in India and internationally. It produces snacks like namkeen and gathiya, as well as Western snacks such as wafers, extruded snacks, and snack pellets.

They also provide fast-moving consumer goods such as papads, spices, gram flour, noodles and rusk.

Jubilant Industries Rallies 100% in February. Here's why.

Moving on to news from the FMCG sector, the shares of Jubilant Industries have had a stellar rally in February, rising over 100%, making it the leading gainer among the smallcap pack during the month.

The rally, which was supported by a significant increase in volumes, was on the back of a strong operational show in the third quarter results. In the past week, the shares have gained about 10%.

Replying to a query by the exchanges, the company clarified that it has nothing to report from its end that may have contributed to the surge in volumes.

Jubilant Industries, the flagship company of Jubilant Bhartia group, is in the business of agri and performance polymers. The company's diversified portfolio businesses deliver a broad range of technology-based products and solutions to customers in India as well as globally.

According to the latest shareholding pattern available with the exchanges, the company is majority-owned by promoters at 74%, while public shareholders have the rest of the stake.

Domestic fund houses and foreign investors have no stake in this smallcap company, which has a market cap of around Rs 21.4 bn.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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