Home›US Markets›Equities›Savita Oil Tech stock jumps to record high in early tr…

Savita Oil Tech stock jumps to record high in early trade

The shares opened at ₹860.40 on the NSE after the prior close of ₹717, before paring gains to trade near ₹745.

Reported · Written up by our desk · Equities

Savita Oil Technologies shares rose sharply in early trade, opening at a record high of ₹860.40 on the NSE compared with the previous close of ₹717 on Tuesday, LiveMint Markets reported.

The stock climbed as much as 20% in the early morning session on Wednesday before paring gains and trading near ₹745, while the company’s shares also saw heavy activity, with about 21.74 lakh shares changing hands intraday.

In the broader market, Indian benchmark indices Sensex and Nifty recovered after two straight sessions of declines, with the BSE Sensex up 190 points to 72,733.04 and the NSE Nifty up 22 points to 22,735.20 in early trade.

LiveMint Markets attributed the rebound in part to softer crude oil prices and buying interest in heavyweight IT stocks, noting Savita Oil Tech’s rally amid the large volume on exchanges.

Latest closeWTI crude $93.42 ▲1.1%|Sensex 73,895.74 ▲0.4%

More like this

Sources