Stock News: On Monday, the first trading day of the week, there was a sharp rise in the stock market. The BSE Sensex once again crossed the psychological level of 60000 points and closed at 60395.63. Due to two big news related to business, the shares of two companies in Tuesday’s trading can help you earn arbitrary returns.
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BSE Midcap index 25600 closed at 50 points. BSE Midcap gained 176 points. Similarly, the BSE Small Cap Index ended 356 points higher at 30389 points.
JBM Auto Limited
JBM Auto Limited has acquired 51% stake in JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited. The company is now focusing on building an end to end e-mobility platform completely manufactured in India. JBM Green Energy is a leading manufacturer of Lithium Ion Batteries for Electric Vehicles. This acquisition will greatly help the company in working in the e-mobility domain. This includes electric buses, battery technology, charging infrastructure and other services. In today’s trade, the shares of JBM Auto Limited were up by 5 percent, it is expected that it may rise again on Tuesday.
Rama Steel
If we talk about a company like Rama Steel, then the company has contacted a company in Nigeria and South Africa. After this news came out, the shares of Rama Steel registered a gain of 5 percent. The company has been successful in entering into an agreement with HuiHai Group Limited Hong Kong to supply 15000 metric tonnes of steel annually to Nigeria. Rama Steel has so far completed several projects in the area. Rama Steel Tubes Limited is one of the leading Manufacturers of Steel Tube Industry. Rama Steel Tubes Limited has one associate company in UAE while one associate company is in Nigeria. With the help of these two companies, the business of Rama Steel Tubes Limited is spreading in the international market.
Today’s Top Gainer-Loser Shares
In the Nifty Fifty index, UPL, Hero MotoCorp, Titan, SBI Bank and Maruti were up by more than 2 per cent in Monday’s trade. Wipro, Nestle India, Divi’s Labs, Asian Paint and Power Grid Corporation were among the top losers. Titan, Maruti, SBI, Greaves Cotton and Alok Industries rose in the BSE Sensex. Along with this, weakness was registered in the shares of JK Lakshmi Cement, Ipca Lab, La Opala and Coforge.
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