Employees monitor stocks at a brokerage firm in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Stocks Radar: Ultratech Cement, Bharti Airtel, Maruti Suzuki, Jet Airways

The Indian equity benchmark start the week on a positive note and rose today, extending a three-day gaining streak from the previous week.

The S&P BSE Sensex rose as much as 0.6 percent to 33,450, while the NSE Nifty 50 Index gained 0.55 percent to 10,322.

The market breadth was tilted in favour of buyers. All 19 sector gauges compiled by the BSE Ltd. rose led by the S&P BSE Telecom Index’s 1.06 percent jump.

Here Are The Stocks Moving The Market This Morning:

Maruti Suzuki: Record High After Morgan Stanley Raises Target Price

Shares of the country’s largest carmaker rose as much as 1.39 percent to record high of Rs 9,167.

Morgan Stanley said Maruti Suzuki India Ltd.’s stock could reach Rs 14,400, a potential upside of nearly 60 percent from its Friday's close, as a best-case scenario. This was by far the highest price target put out by any brokerage tracking the stock, Bloomberg data showed. (More on this story here!)

Jet Airways: Ratings Upgrade

Shares of the Mumbai-based airline rose as much as 4.46 percent, the most since Dec. 5, to Rs 695.55 after domestic brokerage Edelweiss upgraded the stock to 'buy' from 'hold'.

The brokerage firm is confident on Jet Airways (India) Ltd.’s cost rationalisation measures hence the upgrade despite the disappointing second quarter performance.

Ultratech Cement: Rises On New Plant In Rajasthan

Shares of the Mumbai-based cement products maker rose as much as 1.74 percent to Rs 4,237.95.

Aditya Birla group firm said it will set up a new plant in Rajasthan with a proposed investment of Rs 1,850 crore. The plant, which will have a capacity of 3.5 million tonne per annum, is expected to commence commercial production by June, 2020. (More on this story here!)

Max India: Falls On License Cancellation Of Hospitals Arm

Shares of Max Hospitals’ holding company fell as much as 4.48 percent to Rs 128.

A Max India Ltd. subsidiary, the company management informed its investors through an exchange filing that Delhi Government has cancelled the license of one of its hospitals at Shalimar Bagh in New Delhi.

The company has given negative returns of 8.57 percent as compared to Sensex's returns of 25.46 percent this year.

IL&FS Engineering: Gains On Contract Win From GAIL

Shares of the Hyderabad based infrastructure construction company rose as much as 6.24 percent to Rs 53.65.

IL&FS Engineering and Construction Company Ltd. won a Rs 216-crore contract from GAIL (India) Ltd. to lay pipelines in Jharkhand and West Bengal according to a report on PTI.

Trading volume was 2.9 times the 20-day average in early trading today.

Bharti Airtel: Rises On Mobile Tower Pact

Shares of the telecom company rose as much as 2.45 percent to Rs 538.

Bharti Airtel Ltd. has signed an agreement with Department of Telecom (DoT) and the Universal Service Obligation Fund (USOF) for setting up mobile services in Assam , Manipur, Mizoram, Nagaland, Sikkim, Tripura and Arunachal, Airtel said in a statement. (More on this story here!)

Trading volume was 2.9 times the 20-day average in early trading today.

Stocks Reacting To Block Deals

Larsen & Toubro:

  • 24 lakh shares changed hands in a block
  • Shares of Larsen & Tourbo Ltd. rose as much as 0.71 percent to Rs 1,229

Srei Infrastructure Finance


  • 73 lakh shares changed hands in a block
  • Shares of NBCC (India) Ltd. rose as much as 2 percent to Rs 264.7