JSW Energy’s surge on QIP Plans, Hindustan Zinc’s Production Milestone, Shipbuilders Surge, Moil’s Record Production and more

Written by - Fisdom Research

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April 3, 2024 3 minutes

Indian markets:

Domestic equity benchmark indices, the Sensex and the Nifty 50, concluded Wednesday’s trading session with marginal changes. Despite initial pessimism driven by weak global cues, the market managed to recover from early losses, primarily buoyed by gains in IT, metal, oil & gas, and power sectors, edging closer to record highs. However, a late-hour selling spree erased the intraday gains.
Across sectors, the Realty index experienced a decline of 2.5 percent, while the Auto index slipped by 0.4 percent. Conversely, the Power and PSU Bank indices witnessed a 1 percent uptick each, while Information Technology and Media indices saw a 0.5 percent increase.
The broader market indices performed notably well, with the BSE midcap index climbing by 0.6 percent to hit a fresh record high, and the smallcap index registering a 1 percent gain.

Asian-Pacific stocks experienced declines on Wednesday, mirroring the downturn seen on Wall Street, particularly impacting electric vehicle manufacturers due to concerns over demand.
Hong Kong’s Hang Seng index retreated by 1.3% following a previous session surge of more than 2%.
Despite China’s service sector expanding at its quickest pace since December, the CSI 300 decreased by 0.36% to close at 3,567.8.
Japan’s Nikkei 225 dropped by 0.97% to settle at 39,451.85, while the broader Topix index slipped by 0.29% to reach 2,706.51.
South Korea’s Kospi index also experienced a decline of 1.68%, ending at 2,706.97, with the smaller Kosdaq closing 1.30% lower at 879.96.
In Australia, the S&P/ASX 200 decreased by 1.3% to reach 7,785.4, extending the losses observed in the previous session.
European markets displayed mixed performances on Wednesday, marked by cautious sentiment as the new trading quarter commenced.

JSW Energy witnessed a remarkable 7 percent surge following its announcement of plans to raise Rs 5,000 crore via qualified institutional placements (QIP) in one or multiple tranches.
Hindustan Zinc experienced a notable uptick of nearly 4 percent subsequent to reporting its highest-ever quarterly refined metal production of 273 kilo tonnes (KT) in March, attributed to enhanced plant availability.
Mazagon Dock, along with other shipbuilders, saw a substantial 11 percent surge accompanied by high trading volumes, buoyed by optimistic anticipations of robust Q4 earnings and robust order books.
Moil shares advanced by over 3 percent, propelled by the previous day’s announcement from the PSU regarding its record-breaking production figures for any financial year since inception, reaching 17.56 lakh tonnes, marking a significant 35 percent year-on-year increase.

Supermarket chain Patel Retail files DRHP for IPO
Bharti Hexacom was subscribed 11% so far on Wednesday, the first day of the bidding process
Sebi approves IPOs of Saraswati Saree and Kross Ltd

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