Top 5 stocks of the day: Adani Enterprises, Adani Ports, SBI, ICICI Bank and IndusInd Bank were among the biggest losers on the Nifty, while Top 5 stocks of the day were Tata Motors, Bajaj Auto, Dr Reddy’s Laboratories, ITC and Divis Laboratories. PSU Bank, oil & gas, power and metal indices down 4-6 percent. The BSE midcap index shed 1.2 percent and smallcap index declined 1.9 percent.
Sensex and NSE Nifty50
The Sensex was down 874.16 points, or 1.45%, at 59,330.90 at the close, while the Nifty was down 287.70 points, or 1.61%, at 17,604.30. Approximately 870 shares have increased, 2588 shares have decreased, and 97 shares have remained constant.
Realty stocks tumble up to 6%
| Sunteck Realty | 343.95 | -20.25(-5.56) |
| Indiabulls Real Estate | 67.45 | -3.80(-5.33) |
| Prestige Estates Projects | 420.65 | -11.75(-2.72) |
| Omaxe | 64.50 | -1.65(-2.49) |
| Phoenix Mills | 1341.55 | -29.90(-2.18) |
| Godrej Properties | 1178.05 | -18.30(-1.53) |
| Oberoi Realty | 797.00 | -11.30(-1.40) |
| NESCO | 579.00 | -7.90(-1.35) |
| SOBHA | 569.55 | -6.35(-1.10) |
| Brigade Enterprises | 448.85 | -0.90(-0.20) |
Top 5 stocks of the day: CLSA View on Bajaj Auto
The brokerage company maintained its ‘Buy’ recommendation and increased the target price to Rs 4,619 per share. Lower raw material costs, improved currency realisation, and a more diverse product mix all contributed to margin increase. Earnings forecasts for FY24/25 have been raised to 14%/15% based on better revenue and margin expectations, according to CNBC-TV18. On the BSE, Bajaj Auto was trading at Rs 3,941.25, up Rs 223.85, or 6.02 percent.
Dilip Buildcon declared lowest bidder for projects worth Rs 1,373 crore
Dilip Buildcon has declared itself as the L-l bidder for the lenders offered by the National Highways Authority of India on a Hybrid Arnuity basis in the state of Andhra Pradesh. Dilip Buildcon was trading at Rs 214.70, a 1.24 percent decrease.
India market regulator increases scrutiny of Adani group
According to two sources familiar with the matter, India’s market regulator has increased its scrutiny of Adani Group transactions over the past year and will study a report issued this week by short-seller Hindenburg Research to supplement its own ongoing preliminary investigation into the group’s foreign portfolio investors.
On Wednesday, the US short-seller disclosed that it held short positions in the Indian conglomerate, accusing it of inappropriate use of offshore tax havens and raising concerns about the conglomerate’s huge debt, prompting a large sell-off of India-listed shares in the conglomerate’s firms.
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