Hot stocks on July 24: IREDA, Ion Exchange, ITC, Suzlon Energy and more

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Produced by: Aseem Thapliyal

Sensex, Nifty trading in red

Sensex fell 590 pts to 79,839 and Nifty slipped 150 pts to 24,328 in the afternoon session today. Market cap of BSE-listed firms declined to Rs 448.43 lakh crore

Watch out for ITC & United Spirits shares

“Now that the steep increase in STCGs tax and the marginal increase in LTCGs tax on equity is a reality, investors should focus on investing in stocks which can deliver superior returns. In the present context FMCG stocks look attractive from the valuation perspective. Watch out for stocks like ITC and United Spirits,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

MMTC

Shares of MMTC rose 20% to their 52 week high of Rs 102.60 against the previous close of Rs 85.50 on BSE. Total 82.55 lakh shares of the firm changed hands amounting to a turnover of Rs 81.27 crore on BSE. Market cap of the firm climbed to Rs 15,390 crore.

Avanti Feeds

Shares of Avanti Feeds rose to their 52 week high on Wednesday. The stock hit a high of Rs 745.50, rising 16% on BSE after major BCD cuts for inputs for shrimps and fish feed in the Union Budget. Market cap of the firm climbed to Rs 10,192 crore.

Ion Exchange

Ion Exchange shares rose 13% to Rs 698.15 after FM Nirmala Sitharaman said the government would promote water supply, sewage treatment and solid waste management projects and services for 100 large cities. Market cap of the firm rose to Rs 9840.59 crore.

IREDA

IREDA shares surged 5.42% intraday to Rs 272.80 . Market cap of the firm climbed to Rs 72,045 crore. Total 50.22 lakh shares of the firm changed hands amounting to a high turnover of Rs 134.97 crore on BSE.

IRFC

Shares of IRFC were trading flat at Rs 193.80. Market cap of the firm stood at Rs 2.53 lakh crore. Total 61.13 lakh shares of the firm changed hands amounting to a high turnover of Rs 119.93 crore on BSE.

ITC

Shares of FMCG major ITC hit their record high today. ITC shares also crossed the Rs 500 mark intra day for the first time ever, thanks to no hike in the tobacco tax in Budget. ITC shares rose 3.76% to a high of Rs 510.60. Total 9.94 lakh shares of the FMCG firm changed hands amounting to a turnover of Rs 50.04 crore.

Suzlon Energy

Shares of Suzlon Energy hit their 52 week high today. Suzlon Energy shares rose 5% to a high of Rs 60.71 on BSE. Total 43.51 lakh shares of the firm changed hands amounting to a turnover of Rs 26.30 crore.

Disclaimer

Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.