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Infosys, Bajaj Auto, Hero MotoCorp, Yes Bank, Zee Entertainment hit 52-week high
Posted on 3rd June 2016
Infosys, Asian Paints, Bajaj Auto, Hero MotoCorp, IndusInd Bank, Yes Bank, Kotak Mahindra Bank and Zee Entertainment Enterprises are eight stocks from the Nifty 50 index touching their respective 52-week highs on the National Stock Exchange (NSE) in intra-day trade today.

Of these, five stocks - Infosys, Asian Paints, IndusInd Bank, Kotak Mahindra Bank and Yes Bank are quoting at their lifetime highs on the NSE.

Nifty 50 index hit an intra-day high of 8,262, its highest level since October 26, 2015. In the past nine trading sessions, the index has gained 6.9% from 7,731 on May 23, after companies reported better-than-expected results for the quarter ended March 2016 (Q4FY16).

Include, Bajaj Finance, Godrej Consumer Products, Manappuram Finance, MphasiS, Muthoot Finance, Pidilite Industries, Sharda Cropchem, Shree Cement, SKS Microfinance and V-Guard Industries are among 26 stocks from Nifty 500 index too hit their 52-week highs.

Shares of two-wheelers maker - Hero MotoCorp and Bajaj Auto - were up 2% each at Rs 3,211 and Rs 2,659, respectively in intra-day trade on the NSE.

Hero MotoCorp on Thursday said a good monsoon after two consecutive years of sub-normal rains could lead to a change in sentiments in the rural markets, which may lead to a positive turn-around in the industry in the second half of this fiscal.

Three private sector banks – Yes Bank, IndusInd Bank and Kotak Mahindra Bank – trading at their lifetime highs after reported a good set of numbers for Q4.

V-Guard Industries hit a record high of Rs 1,430, surging 52% since May 2, post Q4 results. The company reported more than doubled net profit of Rs 42 crore for Q4FY2016, driven by healthy revenue growth and strong margin expansion. The management said the business outlook remains positive during the first half of the current fiscal (FY16-17).

Related Companies: Infosys Technologies Limited   Bajaj Auto Limited   Yes Bank   

Other Latest News
Cipla shareholders approve proposal to raise up to Rs 3,000 crore
Posted on 17th August 2019
Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.


Two RCom promoters pledge 11.5% more stake in Axis Trustee services
Posted on 17th August 2019
Two promoter entities of Reliance Communications (RCom) have pledged 11.5 per cent more stake in favour of Axis Trustee Services, according to regulatory filings.

Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51 per cent of their holding in Reliance Communications amounting to 31.82 crore shares in favour of Axis Trustee Services acting as security/debenture trustee.


M&M sets up first car assembly plant in Sri Lanka with Ideal Motors
Posted on 17th August 2019
Mahindra & Mahindra (M&M), along with its local partner in Sri Lanka Ideal Motors, has set up the island nation's first passenger car assembly plant.

The Indian carmaker has set up a joint venture with Ideal Motors, its dealer partner in Sri Lanka for 10 years. The 65:35 JV between Ideal Motors and M&M is christened Mahindra Ideal Lanka Private Limited, which will operate the assembly plant at Welipenna, about 60 km from Colombo.


Sebi imposes restrictions on mutual fund investments in short-term bank deposits
Posted on 17th August 2019
NEW DELHI: Mutual fund houses should ensure that banks -- where a scheme has parked funds in the lender's short-term deposits -- do not invest in that particular scheme, according to Sebi.

The markets watchdog has issued a clarification regarding 'parking of funds in short-term deposits of scheduled commercial banks by mutual funds -- pending deployment'.


Restrictions lifted, landline services partially back in Valley
Posted on 17th August 2019
Srinagar: Restrictions on the movement of people in the Kashmir Valley were eased on Saturday, with landline services restored in some areas of the city, even as stringent security arrangements continued to be in place, officials said.

Seventeen out of a little over 100 telephone exchanges were made operational. These exchanges are mainly in Civil Lines, Cantonment and the airport area of Srinagar district.


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