Share Market Today: Amid the strong trend of global market and the reduction in repo rate and CRR by the Reserve Bank, the stock market is expected to open in the green mark today.
Share Market Today: Today, the uptrend is expected to continue on the first trading day of the week. Amid positive signals from the global market, the stock market is expected to open on the green mark today. On Friday, the last trading day of last week, the Reserve Bank of India cut the repo rate by 50 basis points. A 1% cut was also announced in the Cash Reserve Ratio (CRR).
The result was that on Friday, the BSE Sensex closed at 82188.99 with a jump of 746.75 points or 0.92%. At the same time, the Nifty also closed at 25003.05, up 252.5 points or 1.02%. Today, the Asian market is doing well. Japan’s Nikkei, South Korea’s Kospi and Hong Kong’s futures are also seeing a rise. GIF Nifty is also around 25,167. Today there are some stocks in which movement can be seen. Let’s take a look at these-
Infosys
The show cause notice proceedings against global IT services company Infosys for the financial years 2018-19 to 2021-22 have been stopped. With this, the company has got relief from the demand notice of Rs 32,403 crore sent by the GST officials of Karnataka in July last year. This notice was sent for not paying GST under the reserve charge mechanism for services imported from foreign branches. With this good news, the company’s shares can see a rise today. On Friday, the shares closed at Rs 1564.05 with a jump of 0.62 percent.
Garden Rich Shipbuilders and Engineers Limited
Garden Rich Shipbuilders and Engineers Limited has signed a Memorandum of Understanding with a company from Sweden and Denmark. This will lead to the company’s entry into the cruise segment and marine systems are also expected to get a boost. Today, its shares can also see movement. On Friday, the company’s shares closed at Rs 3,246.90, down 4.69 percent.
Bharat Electronics (BEL)
Bharat Electronics Limited (BEL) and Tata Electronics have signed a Memorandum of Understanding (MoU) to enhance India’s self-reliance in the semiconductor ecosystem. This will include things like semiconductor fabrication, outsourced semiconductor assembly and test and design services. This will meet BEL’s needs for microcontrollers (MCUs), system-on-chip (SoCs) and monolithic microwave integrated circuits (MMICs). On Friday, shares of Bharat Electronics Limited closed at Rs 363.90, showing a gain of 3 percent from the previous trading session.
Afcons Infrastructure
Infrastructure engineering and construction company Afcons Infrastructure Limited has received a contract of Rs 700 crore from Mukesh Ambani-led Reliance Industries Limited (RIL). The company has received a Letter of Award (LoA) for construction work under the Vinyl Project in Dahej, Gujarat.
Multi Commodity Exchange of India
Multi Commodity Exchange of India has received approval from SEBI (Securities and Exchange Board of India) to launch electricity derivatives. This will boost India’s energy sector and also improve the commodity ecosystem of the country. This will help protect power producers, distribution companies and large consumers from price volatility.
GHV Infra Projects
The company has received a road construction order worth Rs 546 crore from GHV India. The project includes strengthening and improving various roads in Mumbai.
