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On 18th June 2024, the Sensex reached a new closing high, closing at 77,308.45, up 315.68 points or 0.41% compared to the previous day. The Nifty also reached a record closing high, closing at 23,560.70, a gain of 95.10 points or 0.41% firmer. The majority of Nifty sectoral indices were in the green, with Nifty Consumer Durables up 1.46%, Nifty Realty up 1.36%, the bank index up 0.81%, and financial services up 0.63%. However, the healthcare and media indices were among the major losers.
In the stock market updates, H.G. Infra Engineering Ltd secured a South Central Railway contract for the doubling of track between Karanjgaon station, valued at ₹447.11 crore. The stock of H.G. Infra Engineering traded at ₹1,779 on the NSE, up by 2.37%. Additionally, Jubilant Pharmova announced that the USFDA concluded an audit of its manufacturing facility in Canada, receiving 15 observations. The stock of Jubilant Pharmova declined by 4.56% on the NSE, trading at ₹721.80.
Asian Energy Services Ltd, in collaboration with Indwell, has been awarded an order for a coal evacuation system by belt conveyors at PKOCP, with a contract value of ₹148.50 crore plus 18% IGST. The stock of Asian Energy Services traded at ₹285.80 on the NSE, up by 2.20%. Cipla’s UK subsidiary is set to invest additional EUR 3 million in Ethris GmbH, while Radico Khaitan prepares to launch Rampur Asava Indian Single Malt Whisky in Uttar Pradesh.
Alembic Pharmaceuticals received USFDA Final Approval for Dabigatran Etexilate Capsules, while Apeejay Surrendra Park Hotels Ltd announced a new hotel under THE Park brand in Nainital. UGRO Capital completed equity capital raise and allotment of Compulsorily Convertible Debentures and warrants worth ₹1,265 crore.
Furthermore, Fitch Ratings revised India’s growth forecast to 7.2% for fiscal year 2024-25, up from the earlier projection of 7%. The economy had grown by 8.2% in fiscal year 2024. With positive developments in the market, the stock market witnessed a surge, reaching new highs and showcasing the potential for future growth and stability in the Indian economy.
