Connect with us

Hi, what are you looking for?

Business report news

Finance

ETMarkets After Hours: 181 stocks at 52-wk highs; CLSA upgrade lifts Idea

NEW DELHI: Don't write us off, we'll bounce back i..

NEW DELHI: Don't write us off, we'll bounce back immediately and definitely!

The bulls on Dalal Street drubbed the bears comprehensively on Friday and helped the headline indices close at fresh lifetime peaks.

Upbeat global cues and encouraging macro data lifted investor sentiment several notches up, leading to heavy buying on select bluechip counters across financials and telecom sectors.

The S&P BSE Sensex gained 184 points to settle at 34,154, with private sector lender YES Bank (up 5 per cent) being the top gainer and state-run ONGC the worst laggard. The broader Nifty50 index of the National Stock Exchange (NSE) closed at a record high of 10,558, up 54 points. Out of the 50 constituents in the index, 31 ended in the green and 19 in the red.

Here's a quick recap of the top newsmakers of Dalal Street. Check it out:

RCom rallies, once again
Shares of Reliance Communications surged nearly 7 per cent after media reports said the China Development Bank (CBD) had plans to withdraw its insolvency filing against the Anil Ambani-led company. "CDB has already received some payment and is happy with the deal it is being offered," a person familiar with the matter told ET. The Chinese bank, RCom's largest lender, will still have the right to refile this application if the final settlement is delayed, the person said. The stock settled at Rs 34 apiece, up 2 per cent on BSE.

Idea works wonder
Shares of Idea Cellular surged over 10 per cent to Rs 115 apiece on BSE after the global brokerage firm CLSA upgraded the stock to buy from 'sell' and raised target price to Rs 130 from Rs 77. The brokerage said Idea-Vodafone could see deleveraging of $5 billion led by capital infusions and sale of tower assets in the run up to their merger, which is also likely to close early.

Idea-Cellular (1)

Varun Beverages on a high!
Shares of Varun Beverages shot up 9 per cent after the company entered a strategic partnership with PepsiCo for the larger Tropicana portfolio along with Gatorade and Quaker Value-Added Dairy in territories across North and East India. According to the deal, PepsiCo is transferring distribution of its juices portfolio to its biggest bottler in South Asia, Ravi Jaipuria-promoted RJ Corp, said the report. However, the stock pared most of its gains later in the day to close at Rs 700 apiece, up 1.74 per cent.

Varun-Beverages


Spurt in open interest
United Breweries witnessed the biggest spike in open interest at 50.36 per cent, followed by Reliance Communications (34.54 per cent) and Just Dial (30.59 per cent).

OI (11)

Media stocks steal the show
Shares of media companies advanced the most with Nifty Media index surging 1.45 per cent to 3,529. Out of 15 constituents, 13 ended in the green and rest in the red. Eros International (up 7 per cent), TV 18 Broadcast (up 6 per cent) and HT Media (up 4 per cent) were the top gainers in the pack.

Media

@52-week highs
As many as 181 stocks hit fresh 52-week highs on NSE. Prominent among them include 20 Microns (1.04 per cent), Adani Enterprises (up 5.21 per cent) and Aksh Optifibre (up 5 per cent). On the other hand, 3 stocks plunged to 52-week lows.

52-week-highs (3)

Original Article

[contf]
[contfnew]

ET Markets

[contfnewc]
[contfnewc]

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..

Politics

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae.

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Finance

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.