Markets@11: Kalyan shares surge 7% in morning session

Market Opens Strong, Then Sees Volatility; Heavy Trading in Kalyan Shares

The Indian markets began trading with gains but later experienced fluctuations. The Sensex touched 81,236.45 and the Nifty climbed to 24,867.35 before declining.

Realty, auto, and pharma stocks were in the red today.

Kalyan Jewellers promoter T.S. Kalyanaraman acquired 24.2 million shares from foreign investors Heidel Investment at ₹535 per share, investing ₹1,300 crore. This transaction increased the promoter group’s stake to 62.95%. A total of 66 million shares, or 6.4%, changed hands in block deals yesterday, involving transactions worth ₹3,600 crore. Kalyan shares surged 7% in the morning.

Aarti Drugs shares jumped 9% following reports of a buyback. Similarly, Transport Corporation shares soared 17% for the same reason.

RVNL shares rose 2% after securing a railway construction contract in Malaysia.

IREDA shares climbed 6% on reports of its efforts to raise funds.

Zomato decided to acquire Paytm’s entertainment ticketing business, pushing Paytm shares up by 3.5%. Zomato initially rose 2% but later dipped into the red.

Rupee marginally down 

The rupee weakened today, with the dollar opening 1 paisa higher at ₹83.93.

Gold prices dropped below $2,500 per ounce in the global market. In Kerala, gold fell by ₹240 per sovereign, now priced at ₹53,440.

Crude oil rebounded, with Brent rising to $76.13.