Here’s a look at the top stocks and sectors that made a buzz on Dalal Street all through Friday.Company SummaryNSEBSESun TVLoading data…
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PEER COMPANIESSun TVReliance CapitalRane HoldingsGrasim IndustriesAditya Birla NuvoEXPAND TO VIEW ALL NEW DELHI: Contrary to the expectation, the domestic stock market had a decent run on Friday amid heavy buying in auto and pharma counters.
On Thursday, the government released GDP data for June quarter, which was below Street expectations at 5.7 per cent against 7.9 per cent a year ago. Despite this, the market moved with a positive bias for the most part of the session, thus ending in the green.
On Friday, the S&P BSE Sensex surged 162 points to settle the session at 31,892 with Dr Reddy’s (up nearly 10 per cent) being the top performer and TCS (down over 1 per cent) the worst laggard.
The Nifty50 index of NSE closed at 9,974 with 40 constituents closing in the green and rest in the red.
Here’s a look at the top stocks and sectors that made a buzz on Dalal Street all through Friday:
New kid on the block: Stock of Aditya Birla Capital made a tepid start on the bourses by listing at Rs 250 apiece on NSE. A subsidiary of Grasim Industries, Aditya Birla Capital is the holding company of the financial services businesses of the Aditya Birla Group.
The listing is the culmination of a composite scheme of arrangement under which Aditya Birla Nuvo was merged with Grasim Industries and the financial services business was subsequently demerged into Aditya Birla Capital. The scrip closed the session at Rs 237.50, down 5 per cent from its listing price.
Dr Reddy’s jumps 10%: Shares of drug major Dr Reddy’s jumped nearly 10 per cent on Friday after a US district court issued a judgement in its favour, ruling that proposed generic version of Suboxone sublingual film does not infringe the patent of Indivior. Suboxone sublingual film is indicated for the maintenance of treatment of opioid dependence, according to a PTI report. The stock closed at Rs 2,217 apiece, up 9.75 per cent on BSE.
Reliance Capital flies high: Shares of financial services firm hit the highest level since December 2009 in Friday’s session. According to reports, the company will be shifted out of the BSE S&P indices from September 5 as the financial services provider is demerging its real estate lending business. The scrip closed at Rs 856.80 per share, up 6.40 per cent.
Strong Q1 no fires up Rane Holdings: Shares of Rane Holdings shot up over 11% intraday during Friday’s session on the back of robust quarterly results and acquisition of majority stake in the Bengaluru-based company.
The company’s net profit for Q1FY18 increased by 89% to Rs 35.98 crore compared with Rs 19 crore in the same quarter last year. The operating profit (EBITDA) was at Rs 52.02 crore and EBITDA margin was at 10.6%, according to a report by IIFL. The stock eventually closed at Rs 1787 apiece, up 11 per cent.
The only losers: IT stocks were the pack to settle in the negative zone on Friday. The Nifty IT index closed 44 points lower at 10,514.35, with 6 out of 10 constituents ending in the green and rest in the red. TCS (down 1.43 per cent), Wipro (down 1 per cent) and Tech Mahindra (down 1 per cent) emerged as the major drags.
Shining bright: Sun TV shares jumped over 10 per cent on hopes of 30 per cent increase in its IPL revenues. Global brokerage firm CLSA assumed rights sale at Rs 95 billion in FY19, but if sold for Rs 125 billion, there could be another 2% upside to our consolidated FY19CL earnings forecast. Shares of the company ended at Rs 768 apiece on NSE, up 10.27 per cent.