Top seven Power and Defence stocks that saw heavy demand from buyers before the budget 2024 announcement
As the Indian stock market awaits the much-anticipated Union Budget 2024, scheduled for presentation on February 1st, certain sectors are already witnessing increased investor interest.
As the Indian stock market awaits the much-anticipated Union Budget 2024, scheduled for presentation on February 1st, certain sectors are already witnessing increased investor interest. Among these, the power and defence industries stand out, with several key stocks attracting significant buying activity in the lead-up to the budget announcement.
The Indian stock markets started the trading day with a good outlook. The Sensex opened 0.01 percent higher while the Nifty opened 0.1 per cent higher.
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Ahead of the Interim Budget of 2024,
Indian Renewable Energy Dev Agency Ltd (IREDA) shows positive momentum in the intraday trading session. Opening at Rs 183 and reaching a high of Rs 190.85, IREDA's stock is currently trading at Rs 190.85, reflecting a 4.98 per cent increase from the previous close of Rs 181.8. The market cap stands at Rs 50,957.46 crore, with a 52-week high of Rs 190.85 and a low of Rs 50.
In the pre-budget intraday trading,
PTC India Ltd demonstrates upward movement, opening at Rs 241.55 and reaching a high of Rs 251. The stock is currently trading at Rs 250, showcasing a 4.36 per cent increase from the previous close of Rs 239.55. PTC India's market cap is Rs 7,392.81 crore, with a 52-week high and low of Rs 252.2 and Rs 84, respectively.
Torrent Power Ltd is experiencing positive momentum before the Interim Budget, opening at Rs 1048.9 and reaching a high of Rs 1080. The intraday low is Rs 1045.15, and the current trading price is Rs 1064.55, indicating a 2.36 per cent increase from the previous close of Rs 1040. The market cap stands at Rs 51,164.05 crore, with a 52-week high and low of Rs 1080 and Rs 433.1.
Urja Global Ltd is witnessing significant gains in the intraday session before the Interim Budget. Opening at Rs 36, the stock reached a high of Rs 37.85 and is currently trading at Rs 37.85, marking a substantial 9.87 per cent increase from the previous close of Rs 34.45. The market cap for Urja Global is Rs 1,988.84 crore, with a 52-week high and low of Rs 37.85 and Rs 6.
Bharat Dynamics Ltd reflects marginal intraday gains before the Interim Budget, opening at Rs 1713.25 and reaching a high of Rs 1728. The stock is currently trading at Rs 1719.4, showcasing a 0.72 per cent increase from the previous close of Rs 1707.05. Bharat Dynamics' market cap is Rs 31,457.33 crore, with a 52-week high of Rs 1838.8 and a low of Rs 787.
Zen Technologies Limited is exhibiting positive momentum in the intraday trading session preceding the Interim Budget. Opening at Rs 867.7 and reaching a high of Rs 882.4, the stock is currently trading at Rs 882.4, reflecting a 5.00 per cent increase from the previous close of Rs 840.4. The market cap for Zen Technologies is Rs 7,359.47 crore, with a 52-week high of Rs 911.4 and a low of Rs 191.
Paras Defence and Space Technologies Ltd is witnessing a positive intraday trend ahead of the Interim Budget, opening at Rs 823 and reaching a high of Rs 828.65. The stock's intraday low is Rs 809.5, and the current trading price is Rs 820.4, indicating a 1.22 per cent increase from the previous close of Rs 810.55. The market cap stands at Rs 3,199.17 crore, with a 52-week high and low of Rs 848 and Rs 445.55.
Disclaimer: The article is for informational purposes only and not investment advice.