The Indian equity markets saw a mixed trend today Wed, March 27th, 2024 with the benchmark Nifty 50 (NSEI) trading at 22,123.65 up 0.54%,107 points , while the BSE Sensex is trading at 72,996.31, gaining 526 points, 0.79%. The day’s trading range for the Nifty today has spanned from 22,052.85 to 22,193.60, while the Sensex has oscillated between 72,600.73 and 73,138.73 as of writing today
HDFC Bank Ltd
HDFC Bank Ltd, one of India’s largest private sector lenders, witnessed a marginal uptick of 1% to trade at Rs 1,440.70 as of writing. The stock has so far touched an intraday high of Rs 1,446.95 and a low of Rs 1,421.05. Despite the current year’s underperformance of 7.5%, the bank’s strong fundamentals, with a price-to-earnings ratio of 16.25 and a price-to-book value of 3.75, continue to attract investors. HDFC Bank’s market capitalization stands at a staggering Rs 10.9 lakh crore.
Reliance Industries Ltd
Reliance Industries Ltd, the conglomerate with interests ranging from energy to retail, showed a modest gain of 0.5%, trading at Rs 2,902.60 during the mid-session. The stock has so far touched a high of Rs 2,915 and a low of Rs 2,889.65 today.
Reliance’s strong performance over the past year, with a 42.9% return, can be attributed to its diversified business model. The company’s valuations appear reasonable, with a price-to-earnings ratio of 27.93 and a price-to-book value of 2.61. Reliance’s market capitalization stands at an impressive Rs 19.6 lakh crore.
Tata Communications Ltd
Tata Communications Ltd has seen an increase of 1.5%, trading at Rs 1,977.35 as of writing. The stock so far has touched an intraday high of Rs 1,995.55 and a low of Rs 1,934.45. Despite the day’s dip, Tata Comm has delivered a robust 61.6% return over the past year, backed by its strong offshore outsourcing model and diversified service portfolio. The company’s valuations appear stretched, with a price-to-earnings ratio of 57.90 and a price-to-book value of 38.78. The stock records a market capitalization of Rs 56,354.5 Cr
Infosys Ltd
Infosys Ltd, an IT services giant, witnessed a marginal decline of 0.7%, trading at Rs 1,482.50 during the afternoon session. The stock touched a high of Rs 1,499 and a low of Rs 1,482 on the day as of writing. Infosys has delivered a relatively modest 7.5% return over the past year, reflecting the challenges faced by the IT sector. However, the company’s valuations appear reasonable, with a price-to-earnings ratio of 25.07 and a price-to-book value of 7.64. Infosys’ market capitalization stands at Rs 6.1 lakh crore.
REC Ltd
REC Ltd, a non-banking financial company focused on the power sector, saw a significant decline of 3.4% also, trading at Rs 445.50 during the late afternoon session. The stock touched a high of Rs 466.55 and a low of Rs 440.70 on the day as of writing. Despite the day’s underperformance, REC has delivered a stellar 286.7% return over the past year, fueled by the growing demand for power sector financing. The company’s valuations appear attractive, with a price-to-earnings ratio of 8.98 and a price-to-book value of 1.80. REC’s market capitalization stands at Rs 1.2 lakh crore.
