Last week, the BSE Sensex once again closed above 60,000 points. It closed 1,293.48 points or 2.20 per cent higher at 60,059.06 and Nifty 50 rose 363.15 points or 2.07 per cent to 17,895.20. The BSE Midcap and Smallcap indices gained 2.43 per cent and 3.95 per cent, respectively.
The stock rose more than 34 percent last week. The company’s board has approved preferential allotment of fresh shares worth Rs 315.3 crore to large institutional investors including investment firm of Singapore sovereign wealth fund GIC and Ahmedabad-based Plutus Wealth Management.
Rakesh Jhunjhunwala has this banking stock, experts give buying advice
Tata Motors stock price jumped 15 per cent after private equity firm TPG reported talks to invest nearly $1 billion in the company’s electric vehicles (EV). TPG’s investment may increase to $1.5 billion and for this, Tata Motors’ EV division may be valued at $8-9 billion.
The stock rose up to 9 per cent on the company’s strong recovery during the second quarter across its divisions, including jewelery and watches. Brokerage firm Kotak Securities has expressed the possibility of further rise in this stock.
The company’s stock price rose 8 percent last week. Tata Power has partnered with TVS Motor Company to set up electric vehicle charging infrastructure.
The stock gained over 7 per cent. The impact of the company’s increasing revenue and strong demand from abroad is visible on its stock price. Pushkarraj Kanitkar, VP (Equities), GEPL Capital said that along with strong financial performance, deals from new industries and better margins have benefited the company.
The stock rose more than 6 percent. IndusInd Bank’s advances jumped 10 per cent to Rs 2,21,821 crore in the second quarter. The bank’s deposits have also grown by 21 per cent on a year-on-year basis. Experts say that this stock has resistance at the levels of Rs 1,190-1,211 and if it breaks it can go to Rs 1,297.
Its stock price rose more than 15% last week. Mining company Vedanta’s interest in buying the government’s stake in Hindustan Copper has given rise to the stock.
The stock rose over 29 per cent after the stock exchanges announced the inclusion of three stocks in the futures and options segment.
Its stock gained more than 15 percent after the company launched its direct-to-consumer website. This is expected to increase the sales of the company.
The company’s stock rose more than 4 percent last week. Philips Carbon has raised Rs 400 crore through Qualified Institutional Placement (QIP). In this, 1.63 crore shares were issued at a price of Rs 244 per share.
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