Traders monitor financial data on computer screens on the trading floor. (Photographer: Luke MacGregor/Bloomberg)

Stocks Radar: Hindalco, ITC, Yes Bank, Welspun

The Indian equity benchmarks opened at their fresh all-time highs today, with the S&P BSE Index trading at 37,272.86 and the NSE Nifty Index at 11,237.45.

The market breadth was tilted in favour of buyers. All the sectoral gauges compiled by the National Stock Exchange advanced, led by a 2.77 percent gain in the NSE Nifty FMCG Index.

Here Are The Stocks Moving The Market This Morning

Hindalco Gains On Novelis-Aleris Deal

Shares of the aluminium and copper maker jumped as much as 6.90 percent to Rs 215.15 apiece after the company’s American subsidiary Novelis agreed to buy the U.S.-based aluminium maker Aleris Corporation for $2.6 billion.

The stock’s trading volume was at 6.2 times the 20-day average and it trades at 9.9 times trailing 12-month earnings per share, according to Bloomberg data.

Also read: Hindalco’s Novelis To Buy Aleris In $2.6 Billion Deal

ITC Climbs The Most In Two Years

The FMCG company jumped the most in two years as it gained as much as 6.95 percent to Rs 306.85 apiece.

The company’s net profit met analyst estimates in the June quarter as margins improved. Net profit rose 10 percent year-on-year to Rs 2,819 crore, according to its exchange filing.

The stock contributed to 50 percent of the Nifty gains today and trades at 33.9 times trailing 12-month earnings per share, Bloomberg data showed.

Also read: Q1 Results: ITC’s Profit Meets Estimates, Margins Rise

Mahindra Automotive Gains The Most In A Year After Block Deal

Shares of the automotive component designer jumped as much as 9.21 percent, the most in over a year, to Rs 261.85 apiece.

About 4.4 million shares changed hands on the bourses and the trading volume was 7.5 times the 20-day average, Bloomberg data showed. The stock trades at 27.3 times trailing 12-month earnings per share.

Also read: Mahindra To Unveil 21 Trucks In Mid-Sized Range By Year-End

Yes Bank Declines For Fourth Day

Shares of the Rana Kapoor-led bank fell for the fourth session by as much as 1.74 percent to Rs 366.60 apiece after the lender reported an increase in its non-performing assets ratio for the June quarter.

The bank’s provisions in the quarter rose to Rs 625.7 crore from Rs 399.6 crore in the previous quarter. Of which, Rs 379.9 crore was made towards bad loans.

The stock’s trading volume was at 2.4 times the 20-day average and it trades at 19.9 times trailing 12-month earnings per share, according to Bloomberg data.

Also read: Q1 Results: Yes Bank’s Profit Meets Estimates, Growth In Loans Spikes

Petronet LNG Loses Even As Earnings Beat Estimates

Shares of the liquefied natural gas supplier declined as much as 1.68 percent to Rs 227.90 apiece even as the company’s net income beat the consensus estimate of analysts tracked by Bloomberg.

The stock trades at 16.2 times trailing 12-month earnings per share, Bloomberg data showed.

Also read: High Oil Prices No Worry For Petronet’s Order Book

Welspun Dips After Block Deal

The piping solution provider fell as much as 2.5 percent to Rs 124.60 apiece after 17.5 million shares changed hands in a block deal.

Insight Solutions sold 18 million shares of Welspun Corp. The stock has 6.6 percent equity trade in a single block deal, according to data available on the exchanges.

The trading volume was at 15.5 times the 20-day average. The stock is 34 percent below the Bloomberg consensus one-year target price.

Also read: Why Welspun Corp Expects To Benefit From Trump’s Trade Barbs