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Introduction:
On Wednesday, several stocks witnessed significant turnover on the National Stock Exchange (NSE), accompanied by increased investor interest. Notably, Adani Enterprises, HDFC Bank, Shriram Finance, and Piramal Enterprises emerged as the top turnover stocks. Concurrently, Vodafone Idea, Suzlon Energy, Reliance Power, Alok Industries, and ZEE Entertainment Enterprises also experienced high trading volumes. These activities took place as the BSE benchmark index reached an all-time high level.
Shriram Finance Tops Turnover Chart, Piramal Enterprises Sells Stake:
Shriram Finance secured the highest turnover on both the NSE and the Bombay Stock Exchange (BSE), with Rs 2,320 crore and Rs 2,804.01 crore turnovers, respectively. Additionally, Piramal Enterprises divested its entire 8.3% stake in the non-banking financial company (NBFC) through block deals. Notably, in the block deals, 3,12,21,449 shares of Shriram Finance worth Rs 4,823.71 crore changed hands. As a result, Shriram Finance shares closed at Rs 1,734.20, reflecting an 11.21% increase.
HDFC Bank and Piramal Enterprises Among High Turnover Stocks:
HDFC Bank secured a turnover of Rs 1,979 crore on the NSE, followed by Piramal Enterprises with Rs 1,819 crore. Adani Enterprises also experienced significant turnover, amounting to Rs 1,782 crore. Additionally, HDFC and Mazagaon Dock registered turnovers of Rs 1,206 crore and Rs 1,140 crore, respectively. The high turnover for Piramal Enterprises is attributed to analysts' belief that the cash from the stake sale could be utilized for inorganic opportunities or returned to shareholders. HDFC's increased turnover is linked to the approval received from the Competition Commission of India (CCI) to raise its shareholding in HDFC Life to over 50%.
Stocks with High Trading Volumes:
Vodafone Idea witnessed a 3.38% climb, closing at Rs 7.65 on the NSE. The stock registered a total of 20,44,60,640 shares worth Rs 156 crore changing hands. Conversely, Suzlon Energy observed a 1.40% decline, settling at Rs 14.05, with a trading volume of 13,43,15,767 shares. The turnover for Suzlon Energy reached Rs 190 crore.
Reliance Power experienced a turnover of Rs 205 crore, with a total of 13,40,21,474 shares worth changing hands on the NSE. Alok Industries shares surged by 11.08% to Rs 18.05, witnessing a trading volume of 11,63,57,650 shares. ZEE Entertainment recorded a 3.84% increase, closing at Rs 179.95, with a total of 5,41,85,787 shares worth Rs 99 crore being traded.
Other Stocks with High Volumes:
Punjab National Bank rose by 1.93% to Rs 52.90, with a trading volume of 5,25,83,478 shares. Additionally, IDFC First Bank, YES Bank, Tata Steel, IRCON, Indus Towers, and Zomato were among the other stocks that experienced high trading volumes.
Conclusion:
Adani Enterprises, HDFC Bank, Shriram Finance, and Piramal Enterprises emerged as the top turnover stocks on the
