Today, the market saw a rise for the fifth consecutive day. IT, auto and banking contributed the most to this boom. At the end of trading, the Sensex closed at 56,486.02 with a gain of 935.72 points, or 1.68 per cent. On the other hand, Nifty closed at 16,871.30 with a gain of 240.85 points or 1.45 percent.
The biggest movement in these stocks today
Jubilant FoodWorks | CMP: Rs 2,514.70 | Today the stock has lost more than 12 per cent. Pratik Pota, the CEO of JUBILANT FOODWORKS has resigned. He will step down from the company on June 15. Pratik Pota took over the command of the company in 2017. On the other hand, the brokerage is looking disappointed with the resignation of the CEO and Morgan Stanley has reduced the target from 5000 to 2250. Let us inform that when Pratik Pota joined the company, its share price was Rs 423 per share, while during his tenure the all-time high level of the company’s stock was Rs 4577 per share.
HDFC Bank | CMP: Rs 1,442.25 | Today the stock is up 3 per cent. RBI has lifted the restrictions imposed on HDFC Bank on new digital launches. Due to this news, there has been a strong rise in HDFC Bank today. Let us know that RBI had implemented in December 2020. The move by the RBI came after the bank’s digital transactions were repeatedly mishandled, under which HDFC Bank was banned from taking all the steps taken under its Digital 2.0 program, including the launch of new credit cards. Apart from this, while imposing these restrictions, RBI had also directed the bank to fix the responsibility of such technical glitches and investigate the reasons for the errors and rectify them.
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One97 Communications (Paytm) | CMP: Rs 680.40 | The beginning of Monday was very bad for the shares of Paytm. Shares of Paytm fell 12% to Rs 672 in early trade. This is the life time low of the shares of Paytm. Earlier on Friday, RBI had banned Paytm Payments Bank (Paytm Payments Bank) from adding new customers. The effect of this is visible on the shares of Paytm today. The shares of Paytm’s parent company One 97 Communications were listed at Rs 2150. But valuations remain a constant concern. Brokerage firm Macquarie Securities India has reduced the price target of Paytm shares to Rs 700.
Deepak Nitrite | CMP: Rs 2,231. The stock jumped over 8 per cent today. Phenyl prices are expected to rise sharply due to the closure of the world’s largest production units in China. Due to which this stock remained in enthusiasm today. This production unit in China has been locked down due to the receipt of COVID cases. Deepak Nitrade saw a strong rally today due to the possibility of disruption in the supply of phenyl coming from China in the country.
PNC Infratech | CMP: Rs 248.90 | Today the stock is up 2 per cent. The company has got a major road project from NHAI in Uttar Pradesh. The cost of this project is Rs 738 crore. Due to this news, the stock remained upbeat today.
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