The domestic markets traded firmly in the red on Friday. Nifty gave up the 19,300 level, while Sensex was under the pivotal 65,000 mark at 64,982.4. The broader markets fared worse than the benchmarks, with some indices falling up to 0.9%. Here’s a look at the buzzing stocks in trade.
Jio Financial Services
RIL’s demerged financial services arm Jio Financial Services hit its lower circuit for the fifth consecutive session. However, on Friday, the scrip managed to open the circuit and rise almost 5% to Rs 224.10. Since Jio has hit lower circuit for 2 consecutive days i.e., Thursday, August 24, 2023, and Friday, August 25, 2023, the removal of JFSL from all the S&P BSE Indices will be postponed by another 3 days. JFSL will now be removed (adjustment) from all the S&P BSE Indices on August 31, 2023.
Shoppers Stop
Shoppers Stop share price slipped 11% in trade on Friday after the MD and CEO of Shoppers Stop Venu Nair resigned, effective from 31 August due to personal reasons. Kavindra Mishra, the Homestop head, has been promoted as executive director and CEO for a period of three years in his stead.
Kfin Technologies
Kfin Tech shares saw an increase of 14.37%, standing at Rs 439.7, following a ‘buy’ rating initiation by Jefferies with a target price of Rs 500. The international brokerage highlighted KFin’s prominent role in offering services to mutual funds and presenting issuer solutions to publicly listed companies.
PI Industries
After PI Industries reported a bromine leak at the company’s manufacturing site in Jambusar, Gujarat, shares of the company sank 1.6% in trade to Rs 3,623.05. The company said the incident occurred on August 23 in one of the storage tanks of bromine.