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Today’s Top 10 Stock Stories: Angel One, RVNL, DLF, and More

On September 5, Indian equity benchmarks ended the trading day on a positive note. The Sensex gained 0.23 percent, closing at 65,780.26, while the Nifty rose 0.24 percent, reaching 19,574.90. The market witnessed 2,052 shares advancing, 1,502 declining, and 139 remaining unchanged.

Angel One Ltd. Faces Share Price Decline Despite Strong Client Acquisitions

Angel One Ltd. saw its shares dip nearly 4 percent on September 5, despite the company’s announcement of a substantial increase in gross client acquisitions. In August, the company’s client base expanded by 64.9 percent year-on-year and 19 percent month-on-month, totaling 7.3 lakhs. The firm’s overall average daily turnover (ADTO) in August reached Rs 28.4 lakh crore, reflecting a 0.9 percent month-on-month increase and an impressive 129.3 percent year-on-year surge. Notably, ADTO from the F&O segment stood at Rs 27.99 lakh crore, marking a 131 percent year-on-year increase.

Rail Vikas Nigam Ltd. Secures Railway Project Contract

Shares of Rail Vikas Nigam Ltd. (RVNL) rose over 1.5 percent on September 5 as the company’s joint venture emerged as the lowest bidder for a railway project valued at Rs 174 crore. This followed RVNL’s recent achievement of orders worth Rs 604.19 crore from the Madhya Gujarat Vij Company. RVNL-MPCC JV secured the contract for various civil engineering and track works, including gauge conversion work.

DLF Ltd. Reports Robust Pipeline of Residential Projects

*DLF Ltd. witnessed a nearly 1.5 percent surge in its share price, reaching a 52-week high of Rs 525.80 on September 5. The real estate major revealed a robust pipeline of residential project launches worth approximately Rs 20,000 crore scheduled across Gurugram, Panchkula, Chennai, and Mumbai for the fiscal year.*

Zen Technologies Ltd. Gains Order Worth Rs 123.3 Crore

Zen Technologies Ltd. recorded a 2 percent increase in its share price on September 5, following the announcement of a Rs 123.3-crore order from the defense ministry. The company’s total order book, as of June 30, amounted to Rs 542 crore, with additional orders worth Rs 733 crore secured during the current quarter.

Mrs Bectors Food Specialities Ltd. Appoints New Chief Financial Officer

*Shares of Mrs Bectors Food Specialities Ltd. experienced a decline of over 2 percent on September 5. The dip followed the company’s announcement of the appointment of Arnav Jain as its Chief Financial Officer, effective August 11, 2023.*

Dilip Buildcon Ltd. Bags Project Worth Rs 1,275.3 Crore

Dilip Buildcon Ltd. observed its share prices rise by over 2 percent on September 5 after its joint venture secured an order valued at Rs 1,275.3 crore. The project entails engineering, procurement, construction, testing, commissioning, trial run, and operation & maintenance for 10 years of the Narmada Gambhir Multi Village Drinking Water Supply Scheme in District Ujjain.

Raymond Ltd. Gains Momentum and Brokerage Optimism

*Raymond Ltd.’s shares surged by 10 percent, reaching a 52-week high of Rs 2,240 on September 5, as brokerages expressed positive sentiments towards the stock. Jefferies assigned a buy rating with a target price of Rs 2,600.*

TCNS Clothing Co Ltd. Shares Up Despite Portfolio Investor Selling Stake

TCNS Clothing Co Ltd.’s shares rose by 4.5 percent on September 5, despite portfolio investor Nalanda India Equity Fund selling a 1.4 percent stake in the clothing manufacturer on September 4. Nalanda India Equity Fund offloaded 8,89,635 equity shares via open market transactions.

Satia Industries Ltd. Secures Contracts for Supplying Paper

Satia Industries Ltd. witnessed a 5 percent intraday rise on September 5 after the company secured significant contracts for the supply of paper for printing textbooks. The contracts, valued at Rs 96.50 crore, were awarded by Orissa, Himachal Pradesh, and West Bengal.

Nazara Technologies Ltd. Plans to Raise Additional Funds

Nazara Technologies Ltd. saw its shares rally by 7 percent on September 5. The company announced plans to discuss raising additional funds at an upcoming board meeting scheduled for September 7. The funds would be generated through the issuance of equity shares or securities on a preferential basis, in compliance with the Companies Act, 2013.

Rupesh Kumar Singh
Rupesh Kumar Singhhttp://www.news-next.in
Rupesh Kumar Singh, a seasoned journalist since 2005, excels in crime and business journalism, known for accuracy and insightful reporting.
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