Mon, Feb 19, 2024 2:49 PM
Relentless FII selling fails to dampen market sentiment
A Flip by Shubhangi Gupta
📈 Amid mixed global cues, benchmark indices started on a flat note today. 📊 At 9:16 AM, the Sensex lost 89.08 points or 0.11% at 78,110.03 and the Nifty was down 6.15 points or 0.03% at 23,701.75. 📢Dr. Reddy's Labs (⬆️3.25%), ONGC (⬆️1.78%) and Dalmia Bharat (⬆️2.00%) appeared as the top performers on the Nifty50 at open. Tata Steel, Sobha, Ola Electric, RVNL stocks are in focus today.
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Sobha recorded sales value of Rs 13.88 billion in Q3 FY25 supported by new sales area of 1.01 million sq ft at an average price realization of Rs 13,663 per sq ft. Sales value recorded a dip of 28.85% year-on-year. Average realization improved by 31.3% over same period last year to Rs 14,226 per sq ft, aided by price increases in ongoing projects and higher realization in the new project launches.
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Ola Electric Mobility shares are in focus after receiving an administrative warning from SEBI for violating disclosure norms, related to a planned expansion announcement. The warning is seen as serious, and the company has been advised to improve compliance standards. Ola Electric clarified that there are no financial implications from this warning.
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