Shares of Bharti Airtel were up 2 per cent to Rs 524 on the BSE on Wednesday after the Department of Telecom (DoT) approved raising foreign direct investment (FDI) in the company to 100 per cent from 49 per cent allowed earlier.
The telecom services provider's stock was trading at its highest level since October 15, 2007. It touched its all-time high of Rs 527 on October 10, 2007.
Shares of Vodafone Idea surged 16 per cent to Rs 5.70 on Tuesday, extending its Monday's 8 per cent gain on the BSE, amid hopes that the Supreme Court (SC) may extend the deadline for adjusted gross revenue (AGR) dues payment of January 24, 2020.
On Friday, the stock of telecom services provider tanked 25 per cent to level of Rs 4.51 after the SC rejected the review petition by Vodafone Idea and Bharti Airtel challenging the apex court's 24 October order on AGR.
Shares of HCL Technologies declined 5 per cent to Rs 586 from its early morning high on profit booking. The stock of the country’s third-largest information technology (IT) services firm hit a new high of Rs 619, up 3 per cent after it reported a better-than-expected 2.1 per cent quarter on quarter (QoQ) revenue growth in constant currency (CC) terms. Street had expected growth of around 1.5 per cent.
In the past one month, HCL Technologies has outperformed the market by gaining 8 per cent, as compared to 1 per cent rise in the S&P BSE Sensex.
Shares of small-cap companies were in focus on Thursday with S&P BSE Smallcap index hitting a 6-month high on the back of strong rally in agri inputs, fertilizers, education, metals, textiles and real estate stocks.
Titagarh Wagons, Shakti Pumps, Aptech, BGR Energy, Jindal Saw, Tejas Networks, RSWM, Deepak Fertilisers & Petrochemicals, Anant Raj Industries, Mishra Dhatu Nigam (Midhani), Gujarat State Fertilisers & Chemicals, Puravankara and NIIT have rallied by up to 20 per cent on the BSE.
Shares of sugar companies were in demand on Tuesday with Balrampur Chini Mills, EID Parry (India) and Dwarikesh Sugar Industries hitting their respective 52-week highs on the BSE. The sugar companies are expected to report a strong operational performance, driven by higher sugar realizations and lower costs.
Balrampur Chini Mills rallied 7 per cent to Rs 194 on the BSE in early morning trade today, and was trading at its highest level since May 2006. It had hit an all-time high of Rs 205 on April 2006.
Shares of FDC hit a 52-week high of Rs 222 on the BSE after rallying 5 per cent in intra-day trade on Friday in an otherwise range-bound market after the drug company received good manufacturing practice (GMP) certificate from UK drug regulator for its Goa plant. The stock surpassed its previous high of Rs 220, recorded on May 27, 2019.
The Company has received GMP certificate and it continues with its approved status from UK MHRA (Medicines and Healthcare Products Regulatory Agency), for two of its Oral solid Dosage form facilities situated at L-56/57 and L-121 in Verna, Goa, FDC said in an exchange filing.
Shares of ICICI Securities climbed 14 per cent to hit a 52-week high of Rs 415.15 on the BSE on Friday amid expectation of earnings improvement going forward.
The counter has seen huge activities with trading volumes rose more than two-fold today. A combined 766,750 equity shares had changed hands on the NSE and BSE till 10:14 am. In comparison, the S&P BSE Sensex was up 0.46 per cent at 41,354 points.
Shares of Jet Airways (India) were locked in 5 per cent upper circuit for the seventh straight day at Rs 28.25 on the BSE on Thursday as the creditors of the shuttered airline decided to seek fresh initial bids for the airline. The stock is trading at its highest level since September 30, 2019.
The Committee of Creditors (CoC) would seek fresh Expression of Interest (EoI), according to a regulatory filing on Monday.
Shares of state-owned Indian Railway Catering and Tourism Corporation (IRCTC) gained 4 per cent at Rs 899 on the BSE on Tuesday after the Ministry of Railways revised tariff of standard meals on static units in railway stations.
In an exchange filing yesterday, IRCTC said the Ministry of Railways had revised the tariffs.
It’s been a good year for Asia’s richest man, Mukesh Ambani. The Indian tycoon added almost $17 billion to his wealth as of Dec. 23, the most in Asia, taking his net worth to about $61 billion, according to the Bloomberg Billionaires Index. In comparison, Alibaba Group founder Jack Ma’s net worth grew $11.3 billion, while Jeff Bezos lost $13.2 billion.
The surge in Ambani’s fortune this year was fueled by a 40% jump in the shares of his Reliance Industries Ltd., a conglomerate that’s pivoting more toward consumer offerings than its core oil refining and petrochemicals businesses.
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