Eicher Motors gains more than 3 per cent, hits new high, market cap near Rs. 1 trillion

The Markets Today in a nutshell

• Despite weak global cues, the domestic market ended positively.
• Global markets were under pressure as there has been a spike in European energy prices and further rate hike fears ahead of the Jackson Hole gathering. Amid rising fears of a global economic slowdown, IT stocks have corrected significantly. The BSE IT index has lost 3.6% in the last four trading sessions.

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News you could use

?Devyani International witnessed selling pressure
Devyani International Ltd dropped nearly 7 per cent after substantial block deals changed hands. Details of the buyers and sellers are still unknown. 

?Sterling and Wilson RE traded higher after it bagged a big order from NTPC
The company has emerged as the L-1 bidder for the BOS package comprising four blocks of the proposed solar photovoltaic (PV) plant of NTPC Renewable Energy Limited. The total bid value, including operations and maintenance (O&M) for three years, would be Rs 2,200 crore, including taxes.

?Eicher Motors gains more than 3 per cent, hits new high, market cap near Rs. 1 trillion
Eicher Motors has been rallying for the past two weeks after the company reported robust earnings for the June quarter. According to the management, with the support of government spending on infrastructure and pent-up fleet replacement, there are considerable opportunities in the market, and the Indian Commercial Vehicle market is on the recovery path. 

News from the IPO world?

• Dreamfolks Services IPO sets IPO price band at Rs. 308-326.
• Shankar Sharma invests in IPO-bound Annapurna Swadisht.
• CarTrade share price falls after mandatory lock-in ends post IPO.
• Macleods Pharmaceuticals Limited & Harsha Engineers International Limited have filed for their IPOs.

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