HDFC Bank Ltd, Reliance Industries Ltd (RIL), Axis Bank Ltd, and RVNL were among the NSE-listed companies that experienced strong turnover in the morning session.
Shares of IFCI Ltd, Indian Railway Finance Corporation Ltd (IRFC), YES Bank Ltd, ZED Entertainment Enterprises Ltd (ZED), IREDA Ltd, and Vodafone Idea Ltd surged up to 17% and led the NSE volume chart on Wednesday. On the other side, HDFC Bank Ltd, Reliance Industries Ltd (RIL), Axis Bank Ltd, and RVNL were among the NSE-listed businesses with significant turnover in the morning.
Vodafone Idea topped the volume charts, with 15,78,53,136 shares worth Rs 229 crore changing hands. The stock rose 2.78 percent to Rs 14.80 on the NSE.
It was followed by IRFC, with 12,62,73,608 shares worth Rs 2,083 crore changing hands. The stock rose 5.52 percent to Rs. 170.20. Yes Bank shares increased 1.25 percent to Rs 24.35 on the NSE, with 11,24,08,484 shares worth Rs 272 crore changing hands. IFCI rose 17.13% to Rs 46.85, with 8,58,33,663 IFCI shares worth Rs 385 crore changing hands.
South Indian Bank Ltd. reported a volume of 8,24,12,247 shares. This bank’s stock gained 8.62 percent to Rs 33.40. ZED shares climbed 3% to Rs 160.65. The ZED stock saw 6,34,60,437 shares change hands, valued at Rs 1,033 crore. Following the termination of the merger with Sony, a number of brokerages have reduced their target prices for ZED to between Rs 150 and Rs 200.
NHPC and IREDA rose 3-5 percent, with more than 5 crore shares changing hands. Other stocks that experienced price increases amid heavy volumes were IRCON, NBFC, and RVNL.
In terms of turnover, HDFC Bank led the NSE chart. HDFC Bank generated Rs 3,149 crore in revenue. It was succeeded by IRFC. RIL had a turnover of Rs 1,265 crore, with 1,26,54,943 company shares traded. This stock was up 0.08% to Rs 2,659.35. Axis Bank shares were down 1.77 percent to Rs 1,069.95. Other equities with substantial turnover in Wednesday’s trade were RVNL, IRCON, ZED, REC, ICICI Bank, and Bajaj Finance.
Frequently asked questions
What is the target price of IRFC 2025?
By the end of 2025, the company’s stock price is projected to reach ₹409.80 per share, based on market data.
Why is the IRFC going up today?
The majority of railway stocks, including IRFC, have seen big increases this month following reports that capital allocation for the sector in the Budget could reach a new high. The Budget 2024 will be unveiled on February 1.
What will be the share price of Yes Bank in 2024?
On the last trading day, YES Bank Ltd.’s stock opened at ₹25.25 and closed at ₹25.15. The stock price fluctuated between ₹25.10 and ₹25.45 throughout the day. YES Bank Ltd.’s total market capitalization is ₹72,627.40 crore.
Should I sell IRFC shares?
Dongre advises investors to avoid IRFC stock for the time being and “wait for the support level to buy on dip.”. According to BSE statistics, the multibagger railway PSU stock has returned 14% in the last week and soared 61% in the last two weeks.
Is IRFC a good buy?
“IRFC is bullish yet overbought on the daily charts. Investors should book profits at current levels, as a daily close below Rs 120 might lead to a target of Rs 99 in the near term, according to Abhijeet of Tips2trade.
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