Sensex, Nifty Clock Longest Weekly Gain In Nearly Three Months
Indian equity benchmarks were little changed as losses in Yes Bank, ICICI Bank and State Bank of India were offset by gains in TCS, which rose the most in six years, becoming India’s first company with a market capitalisation of $100 billion.
The S&P BSE Sensex was little changed at 34,415.58 and the NSE Nifty 50 was also little changed at 10,564.05.
For the week, Sensex and Nifty climbed 0.8 percent, posting their longest weekly gain since Jan. 28.
Nine out of 11 sector gauges compiled by National Stock Exchange ended lower led by the Nifty PSU Bank index’s 2.5 percent drop. On the flipside, Nifty IT index was the top sectoral gainer, up 4.8 percent.
Avanti Feeds Surges On Stock Split, Bonus Issue Proposal
Shares of the Hyderabad-based shrimp feed maker rose as much as 7.22 percent to Rs 2,346 after it informed exchanges that its board will meet on May 9 to discuss and consider stock split and bonus issue of shares.
Fab Four Stocks Of The Day
- Kakatiya Cement: The Andhra Pradesh-based cement, sugar and power producer were locked in a 20 percent upper circuit at Rs 315.50 after it resumed operations at Telangana plant after the Polution Control Board revoked its closure order.
- Mindtree: The Bangalore-based IT firm rose for second day in a row. The stock rose as much as 9.3 percent to record high of Rs 981 on the back of heavy volumes. Trading volume was over 5 times its 20-day average.
- Jamna Auto: The Haryana-based auto parts maker rose as much as 3.3 percent to record high of Rs 97.50. Domestic brokerage KR Choksey recommends buying this stock for target price of Rs 112.
- Radico Khaitan: The Delhi-based liquor maker rose as much as 7.3 percent to record high of Rs 452. Brokerage house Emkay has maintained its buy call on the stock and it expects 55 percent jump in March quarter profit.
NDTV Falls After Court Imposes Rs 10 Lakh Fine
Shares of the Delhi-based news broadcaster fell as much as 3.2 percent to Rs 41.55 after the Delhi High Court ordered it to deposit Rs 10 lakh for revealing the identity of eight-year old Kathua rape victim, news agency Press Trust of India reported.
Max Financial Services Stages Sudden Spike
Shares of the Delhi-based insurance company staged a sudden spike. The stock rose as much as 11 percent, the most in 22 months, to Rs 498.20.
Trading valume was 6.5 times its 20-day average.