Stock Market Update: ‘Modi Magic’ Fuels Surge as Rally Shares Skyrocket


Rajasthan News


PSU Stock Performance: The stock market has made history by hitting all-time highs ahead of the election results. The Sensex, Nifty, and Bank Nifty have all reached unprecedented levels, with the BSE Sensex at 76,583 points, Nifty at 23,338 points, and Bank Nifty surpassing 50,000, delighting investors. Notably, Prime Minister Modi has frequently highlighted the government companies whose shares are experiencing gains, discussing them during election rallies. Let’s take a closer look at the stocks of these companies and their recent performance.

The shares of REC Limited, a government-owned company, opened at Rs 585 on Monday morning. By the afternoon, the stock had surged over 12% to Rs 604. During today’s trading session, it reached a 52-week high of Rs 605, marking an impressive gain of more than Rs 66. This growth has elevated the company’s market capitalization to Rs 1.59 lakh crore.

The shares of Hindustan Petroleum Corporation Limited (HPCL) have also reached a new 52-week high. The stock closed at Rs 537 on Friday and opened at Rs 570. During the trading session, it peaked at Rs 594.70, reflecting a gain of over 7% for the day.

The shares of NBCC had experienced a decline in recent days, but today saw an increase of over 8%. The stock opened the trading session at Rs 153 and later climbed to Rs 155.90. Notably, the share’s 52-week high stands at Rs 176.50, while its low is recorded at Rs 38.10. As a result, the company’s market capitalization has reached Rs 27,090 crore.

India’s largest public sector bank, SBI, commenced trading with significant momentum today. The shares opened at Rs 867.95, reflecting an increase of Rs 37. Shortly after, the stock reached a 52-week high of Rs 912, while the 52-week low remains at Rs 543. The bank’s market capitalization has now climbed to Rs 8.13 lakh crore.

Shares of BEML Limited, another government enterprise, surged by Rs 360 during today’s trading session. The stock, which closed at Rs 4,391 on Friday, opened at Rs 4,704 on Monday and peaked at Rs 4,758. This is just shy of the company’s 52-week high of Rs 4,770. As a result, BEML’s market capitalization rose to Rs 19,774 crore.

Explore more: Exciting News for NPS Investors: Same-Day NAV Benefit!

NBCC Reports Significant Net Profit Surge: Will This Spark Stock Market Activity?

During Tuesday’s trading session, NBCC’s share opened at Rs 146.95, reflecting a positive start. Throughout the session, it maintained its momentum, reaching a high of Rs 146.95.

NBCC Q4 Result: The stock of public sector company NBCC Ltd may rebound from its decline on Tuesday, with expectations for a rise on Wednesday due to strong fourth-quarter results. In Tuesday’s trading session, NBCC’s stock dropped by over 4 percent to Rs 138.80, but news broke before market closure that NBCC’s profit had surged compared to the same period last year.

Net profit increased by 26 percent to Rs 136 crore

NBCC Limited reported on Tuesday that its consolidated net profit rose by 26 percent to Rs 136.08 crore for the March quarter of the last fiscal year, up from Rs 108.4 crore during the same period a year earlier. The company disclosed to the stock market that its operating income increased to Rs 4,024.5 crore in the reported quarter, compared to Rs 2,813.35 crore in the fourth quarter of the financial year 2022-23. Over the entire fiscal year 2023-24, NBCC’s net profit jumped from Rs 266.66 crore to Rs 401.55 crore year-on-year, with operating income rising from Rs 8,876.36 crore to Rs 10,432.63 crore.

The stock is expected to rise.

Given the significant increase in net profit for the fourth quarter, analysts anticipate a positive reaction in Wednesday’s trading session.

Share Status:

In Tuesday’s trading session, NBCC’s share opened positively at Rs 146.95, reaching a high of Rs 146.95 during the session. It also recorded a low of Rs 137.40 before closing at Rs 138.80. The stock has a 52-week low of Rs 38.10 and a high of Rs 176.50, with the company’s market capitalization at Rs 24,984 crore.

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