Sensex, Nifty Close At Record For Third Straight Session Aided By RIL, I.T. Stocks
India's stock benchmarks closed at record for the third consecutive session, aided by gains in I.T., realty & consumer durables stocks.
The S&P BSE Sensex gained 0.29% to a 58,296.91, highest ever close. The 30-stock index rose to a record 58,515.85 in intraday trade. This is the first time Sensex has crossed 58,500 mark. The NSE Nifty 50 advanced by similar magnitude to 17,377.80. The 50-stock index hit a record 17,429.55 in intraday trade. Reliance Industries Ltd. contributed the most to the index gain, increasing 1.6%. Wipro Ltd. had the largest increase, rising 4.8%. Today, 26 of 50 shares rose, while 23 fell.
The broader indices almost mirrored their larger peers with the S&P BSE MidCap and S&P BSE SmallCap gaining 0.2% and 0.6% respectively. Thirteen out of the 19 sectoral indices compiled by the BSE Ltd. advanced, with S&P BSE Realty adding 3% and S&P BSE Information Technology rising 1.5%.
The market breadth was skewed in favour of bulls. About 1,702 stocks advanced, 1,622 declined and 171 remained unchanged.
Welspun India: First Indian Company To Get US FDA 510(k) Approval For 3 Ply Surgical Masks
Shares of Welspun India Ltd. advanced 9.64% to Rs 138.25 apiece after the company received the US FDA 510(k) clearance for its 3 Ply Surgical Masks.
The masks have been certified by BIS and CE already.
Mask has all required certifications to supply to global markets including critical and medical uses.
Surgical masks made with 100% polypropylene and offer 98% protection against bacterial load.
Source: Exchange Filing
Bajaj Electricals Up 8%; Consumer Durables Stocks Gain
TARC Sells Part Of Warehousing Assets To Blackstone For Rs 295 Crore
Real Estate developer TARC Ltd. announced the successful completion of the sale of its warehousing asset in North Delhi to BREP Asia II EIP Holding Ltd, an affiliate of funds managed and/or advised by Blackstone Inc. for a total consideration of Rs 295 crore, the company informed exchanges.
The move is aligned to TARC’s strategy of focusing on core development projects to unlock value through its land parcels in the capital. TARC intends to use a part of the proceeds to fast track residential projects.
Shares of TARC climbed 5% to Rs 41 apiece. Trading volume was 2.3 times the 30-day average for this time of the day. Share price crossed above the 50-day simple moving average, indicating potential upward price momentum.
Ashoka Buildcon Advances After Receiving LoA From Adani Road Transport For EPC Project In West Bengal
Shares of Ashoka Buildcon Ltd. rose 6.9% to Rs 107.30 apiece after the company received Letter of Award (LoA) from Adani Road Transport Ltd. The LoA pertains to the execution of civil and associated works on EPC basis of six laning of national corridor NH-19 from Pangarh to Palsit in West Bengal.
The accepted EPC contract price is Rs 1,567.45 crore, the company said in an exchange filing Saturday.
Of the 20 analysts tracking the company, 19 maintained ‘buy’ and 1 maintained ‘sell’ recommendation. The overall consensus price of analysts tracked by Bloomberg implied an upside of 49.3%.