Stock Market Updates: Weakness in the stock market, start in red mark, today’s top 5 shares on which investors will be eyeing
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The Sensex was trading at a level of 65914.74, down 81.07 points, or 0.12 per cent. While the Nifty was trading at a level of 19604.25 with a decline of 28.25 points i.e. 0.14 per cent.
Weakness is visible in the domestic stock market amid mixed global signals. Sensex and Nifty started in red mark in today’s trading. The Sensex was trading at a level of 65914.74, down 81.07 points, or 0.12 per cent. While the Nifty was trading at a level of 19604.25 with a decline of 28.25 points i.e. 0.14 per cent. In today’s trade only Metal, Pharma and Realty indices are showing green mark on Nifty. While most of the indices including Bank, Financial, IT, Auto, FMCG are showing in red mark on Nifty.
Shares of ONGC, ADANIENT, ADANIPORTS, BPCL, BAJAJ-AUTO are in green color i.e. in growth, while shares of Asianpaint, HCLTECH, NESTLEIND, TCS, BRITANNIA are seen in red color i.e. weak. Today i.e. 10 August 2023, some stocks are ready to show action in a volatile market. These stocks can remain in focus in the market today. If you are looking for better stocks in intraday then you can keep an eye on these.
IRCTC
State-owned railway company IRCTC has earned a profit of Rs 231 crore in the June quarter. This is 7 percent less than the same period of the last financial year. This is due to exceptional loss (Rs 51.9 crore) and lower operating margin. Revenue from operations in the June quarter increased by 17.5 percent year-on-year to Rs 1001.8 crore.
Reliance Power
Reliance Power has said that its loss widened to Rs 296.31 crore in the June quarter due to lower income and higher expenses. During the same quarter a year ago, it had a loss of Rs 160.79 crore. The net income of the Anil Ambani-led company declined to Rs 1,958.72 crore in the first quarter of the current financial year from Rs 2,144.97 crore in the same quarter a year ago.
Union Bank
Public sector Union Bank of India has given a dividend check of Rs 1712 crore to the government for the financial year 2022-23. The bank said in a statement that this is the highest dividend given by Union Bank of India in a financial year. Union Bank of India Managing Director A Manimekhalai handed over the dividend check to Finance Minister Nirmala Sitharaman.
Bata India
Footwear maker Bata India Limited’s profit declined by 10 per cent to Rs 107.8 crore in the first quarter (April-June) of the financial year 2023-24. The profit of the company was Rs 119.3 crore in the same period of the previous financial year. Bata India’s operating income grew 2 per cent year-on-year to Rs 958.1 crore.
Tata Power
Tata Power will invest Rs 13,000 crore in two projects related to ‘Pumped Hydro Storage’ in Maharashtra. The company said that the total capacity of both the projects would be 2,800 MW. Pumped hydro storage projects (PSPs) linked to hydropower ‘pump’ water from a lower reservoir to a higher reservoir when excess power is available. The same water is used to drive turbines located at a lower level to generate electricity during times of peak demand.
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