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After a firm opening, the markets traded in a narrow range and ended the session in green.

Falling crude oil prices and optimism in US markets supported sentiment back home.

Both the benchmark indices hit their new all-time highs today.

At the closing bell, the BSE Sensex stood higher by 103 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 27 points (up 0.1%).

Ultratech Cement, UPL, and Adani Enterprises were among the top gainers today.

Dr Reddy's, Axis Bank, and Cipla, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,088, up by 11 points, at the time of writing.

Border indices ended in green with the BSE MidCap index up by 0.9% while the BSE SmallCap index rose by 0.7%.

Sectoral indices ended in green with stocks in the metal sector, FMCG sector, and auto sector witnessing most of the buying.

While pharma stocks witnessed selling.

Shares of MRF, LTI Mindtree, and TVS holdings hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today. This should help you keep updated with the latest developments...

Asian share markets ended on a mixed note. The Shanghai Composite ended 0.7% higher while the Nikkei ended 1.5% higher. The Hang Seng declined 0.8%.

The rupee is trading at 83.38 against the US$.

Gold prices for the latest contract on MCX are trading in red by 0.3% at Rs 61,503 per 10 grams.
 

Why Mazagon Dock Share Price is Rising

In news from the defense sector, Mazagon Dock was in focus today.

On Monday, 11 December 2023, the share price of the Mazagon Dock rose about 5% in early trade and settled about 3% higher than the previous close.

This rise in share price was followed after the company secured a Rs 11.5 billion (bn) order from ONGC for a pipeline project.

This project involves installing 44.4 km of subsea pipelines. Mazagon Dock won the order through a bidding process and the deadline for completion is 15 May 2024.

If we look a bit at the company, Mazagon Dock has been a top-performing defense and shipping stock in 2023. The stock has offered a return of more than 140% in a year. Over the last six months, it has doubled investors' money, gaining up to 103%.

Mazagon Dock also reported a robust September quarter with revenues increasing by 7.3% to Rs 18.3 bn in the recent quarter as compared to the same time last year.

Net profit also rose 55% YoY to Rs 3.3 bn on the back of strong revenue numbers and the earnings before interest, tax depreciation and amortization (EBITDA) saw an increase of a whopping 50% YoY to Rs 1.8 bn.
 

IREDA Hits 52-Week High. Here's Why...

Moving on to news from the finance sector, the stock price of IREDA broke out from its range-bound performance and got locked at the upper circuit today.

There are two reasons behind this sudden rally.

First, the stock is gaining buyers' attention due to the government's increasing emphasis on renewable energy and the company's robust financials.

Second, the chairman of the company announced the launch of IREDA's retail division, a move to broaden its lending services.

The retail division's main focus is to offer loans to participants in the PM-KUSUM scheme which offers rooftop solar projects.

Not long ago, the company disbursed its first loan in this segment, amounting to Rs 580 million (m) under the PM-KUSUM scheme.

In addition, IREDA plans to allocate 1% to 2% of assets under management from domestic pension and insurance funds into renewable energy bonds.

The stock price of the company is up by 20% today and over 41% in 2023 so far. Apart from this, the stock is up 160% from its IPO price.

Why Blue Dart Share Price is Rising

Moving on to news from the logistics sector, Blue Dart's share price saw a lot of traction today as it was up over 2%.

The rally in its share price came after its subsidiary company acquired two leased aircraft.

Let's look at the details...

Blue Dart Aviation, the wholly-owned subsidiary of Blue Dart, purchased two leased aircraft from DHL Aviation (Netherlands) BV for approximately Rs 400 m, as approved by the board of directors. These aircraft were already in operation under lease by Blue Dart Aviation.

Moreover, back in November 2023, Blue Dart Express announced plans for nationwide expansion with the opening of 40 new franchisees and company-owned retail outlets.

Additionally, the company disclosed a decision to implement a general price increase effective from January 2024. The increase in cost will depend on the shipping profile.

The share price of Blue Dart has rallied over 4% in a month and 13% in six months.

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