Amidst heavy volatility, the market closed with gains for the second consecutive day today. Metal, Oil & Gas, Power and IT stocks saw gains in today’s trading on February 28.
At the end of trading, the Sensex closed at 56,247.28 with a gain of 388.76 points, or 0.70 per cent. On the other hand, Nifty closed at 16,793.90 with a gain of 135.50 points, or 0.81 percent.
The biggest movement in these stocks today
Reliance Industries | CMP: Rs 2,355. The retail arm of Reliance has taken over the retail business of Future Group. Due to this news, there was enthusiasm in this stock today and this stock closed with a gain of 3 percent.
Bharti Airtel | CMP: Rs 328 | Today this stock has seen a fall of more than 1 percent. The shareholders of the company have approved issuance of preferential shares to Google for an investment of about Rs 7,500 crore in the company to buy 1.28 per cent stake. A special resolution to approve Google’s investment was approved by over 99 per cent of shareholders, according to the voting results of an Extraordinary General Meeting (EGM) of Airtel on Sunday. The company’s EGM was held on 26 February. Internet giant Google last month announced an investment of USD 1 billion or about Rs 7,500 crore in Bharti Airtel. These investments are to be made during the next five years on mutually agreed terms.
Also read- Russia-Ukraine crisis: Airbnb aims to shelter 100,000 refugees
RAIN Industries | CMP: Rs 183.60 | Today the stock has lost more than 3 per cent. According to the company’s December quarter results, the company has made a loss of Rs 97 crore during this period as compared to a profit of Rs 307 crore in the December quarter of last year. The company’s net sales grew 52 per cent at Rs 4,026 crore in the December quarter as against Rs 2,640 crore in the same period last year.
Bharat Electronics | CMP: Rs 210.30 | Today this stock has seen a jump of more than 5 percent. The Ministry of Defense and Navratna Defense PSU company Bharat Electronics have signed a retro-modification agreement. Under which the commander site of the main battle tank T90 of the Indian Army will be modified. This retro modification will be of 957 tank. The total value of this contract will be Rs 1,075 crore.
Ducon Infratechnologies | CMP: Rs 25.55 | Today the stock rose 5 per cent. The proposal to issue 1:10 bonus shares has been approved in the board meeting of the company on February 25, 2022. Apart from this, the proposal to increase the authorized share capital of the company and amend the capital clause of the company’s Memorandum of Association has also been approved in this board meeting. Will issue bonus shares in the ratio of 1 share per 10 shares. Some more statutory approvals are yet to be taken on this proposal. Apart from this, the Board of the company has also approved the proposal for reservation of 1 share of face value of Re 1 for the warrant holders of the company at Re 1 face value per 10 equity shares. Please note that the warrants of these warrant holders will be converted.
,