After opening the day lower, the Indian benchmark turned positive as the session progressed and ended the day higher.Benchmark equity indices ended December’s first session in positive territory.At the closing bell, the BSE Sensex stood higher by 445 points (up 0.6%).Meanwhile, the NSE Nifty closed higher by 142 points (up 0.6%).Apollo Hospital, Grasim Industries, and Shriram Finance are among the top gainers today.NTPC, Cipla, and Britannia on the other hand, were among the top losers today.The GIFT Nifty was trading at 24,429 down by 33 points at the time of writing.The BSE MidCap index ended 1% higher and the BSE SmallCap index ended 0.8% lower.Sectoral indices were trading mixed today with stocks in the realty sector and metal sector witnessing buying. Meanwhile, stocks inthe FMCG sector and banking sector witnessing selling pressure.Dixon Tech, Coforge, and Info Edge hit their respective 52-week highs today.The rupee is trading at 84.71 against the US$.Gold prices for the latest contract on MCX are trading 0.7% lower at Rs 76,587 per 10 grams.Meanwhile, silver prices were trading 1% lower at Rs 90,302 per 1 kg.
Emami Realty Share Hits Upper CircuitIn news from the realty sector, shares of Emami Realty locked in a 5% upper circuit at Rs 111.7 on 2 December following the launch of its premium residential project, Emami Aamod, in New Alipore.The project is expected to generate revenue of approximately Rs 8.5 bn.Emami Realty’s stock has declined nearly 3% on a year-to-date basis, underperforming the Nifty 50’s 11% gain during the same period. Today marked the third consecutive session of the stock being in a 5% upper circuit.Spread across 4 acres, Emami Aamod features a collection of 3 BHK and 4 BHK apartments with servant rooms. A key highlight of the project is the 1-acre Aqua Serenity Lake.Located on a 24-meter-wide road in New Alipore, the project offers convenient access to healthcare facilities, educational institutions, and shopping destinations.Established in 2006, Emami Realty has developed over 3.7 crore square feet of residential, retail, and commercial real estate across West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Odisha, Maharashtra, and even Sri Lanka.These projects are carried out through various Special Purpose Vehicles (SPVs) and Joint Ventures.The company’s notable projects include South City, Urbana, and Emami City.
Ola Electric Shares Rise 6%. Here’s WhyMoving on to news from the auto sector, shares of Ola Electric posted a massive recovery from the day’s low on 2 December after its CEO Bhavish Aggarwal gave a big update on the number of stores of the company.He added that all the stores will have service capacity too.The update helped the EV company’s shares to rebound sharply from the day’s low to trade in firm green.Ola Electric shares rose a whopping 30% in the past few trading sessions after the company announced its foray into the commercial segment.Last week, Ola launched the ‘Gig’ range of scooters with an introductory price of Rs 39,999, targeting gig workers.The company also launched its S1 Z model, a personal-use electric scooter aimed at urban commuters priced at Rs 59,999.The range will be available for business-to-business (B2B) purchases and rentals.
Why Greaves Cotton Share Price is RisingMoving on, Greaves Cotton shares surged by 3% on Monday after the company announced value unlocking in its electric vehicle unit with the IPO of Greaves Electric Mobility Limited (GEML). The move has sparked significant investor interest.The company’s market capitalisation now stands at approximately Rs 45 bn. Greaves Cotton stock has delivered robust returns, climbing over 38% in the last year, outperforming benchmark market indices.The electric mobility theme has caught investor attention of late, with markets keenly eyeing the next moves even from major players such as Bajaj Auto, Hero Moto, and others.The IPO of GEML, approved by the board on December 1, will comprise a fresh issue of equity shares and an offer for sale by existing shareholders. The offering is subject to market conditions, shareholder approval, and regulatory clearances.The company plans to finalise the IPO size, pricing, and other details in consultation with its appointed book-running lead managers.Greaves Electric Mobility recently received approval under the Union Government’s Electric Mobility Promotion Scheme (EMPS) 2024.Greaves Cotton is a diversified engineering company and has operations across engineering, electric mobility, retail, finance, and technology space.The approval of GEML’s IPO aligns with the company’s broader strategy to capitalise on the growing demand for electric vehicles and related infrastructure.More By This Author:Sensex Today Trades Lower; Nifty Below 24,100; Aegis Logistics Drags 6%
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