Bharti Airtel, Reliance Industries, Maruti Suzuki hits 52-week high

Bajaj Finance, TVS Motor, CARE Ratings and IndusInd Bank from BSE500 index hit 52-week highs.

Bharti Airtel, Reliance Industries and Maruti Suzuki (India) are among the stocks on Sensex that hit their respective 52-week highs on BSE on Monday in intra-day trade after a strong rally in equities.

Besides these three stocks, Bajaj Finance, TVS Motor Company, Gillette India, CARE Ratings, IndusInd Bank, Prestige Estates, JSW Steel and L&T Finance Holdings are among 20 stocks from the S&P BSE 500 index touched 52-week highs today.

Bharti Airtel rallied 5% to Rs 405, its highest level since August 2015 on BSE. Thus in 2017, the stock of telecom services provider outperformed the market by gaining 33% as compared to 19% rise in the S&P BSE Sensex.

According to Business Standard reports, Bharti Airtel is among the frontrunners looking at acquiring FreeCharge, an online mobile wallet platform in the Snapdeal portfolio.

The telco had recently launched Airtel Payments Bank and it also has an online wallet-Airtel Money, added report. CLICK HERE TO READ FULL REPORT.

IndusInd Bank was up 2% to Rs 1,550, also its record high on BSE ahead of its first quarter (April to June, 2017) earnings tomorrow, July 11, 2017. The stock of private sector lender rallied 40% thus far in the current calendar year 2017.

“IndusInd Banks’ loan growth to be higher than industry, with the continued tilt towards consumer finance division. Fee income trends to continue superior performance. Asset quality trends will likely be stable (provision benefit likely to percolate from recent deal in cement segment),” Edelweiss Securities said in Q1FY18 results preview.

Kotak Institutional Equities Research expects loan growth at around 22% yoy, led by steady growth in retail business. NIM (net interest margin) will remain stable qoq supported by higher share of retail loans. The growth in fee income is to slow down.

“We see limited asset-quality stress but provisions will decline qoq as a stressed asset will be upgraded following the recent completion of a transaction (M&A) involving sale of assets,” the brokerage firm said in results preview.

COMPANY	LATEST	52 WK HIGH	PREV HIGH	PREV DATE
AVENUE SUPER.	915.50	921.70	910.00	06-Jul-17
BAJAJ FIN.	1400.10	1449.00	1431.00	20-Jun-17
BHARTI AIRTEL	400.70	405.00	400.65	23-Feb-17
BRITANNIA INDS.	3719.05	3800.00	3796.30	15-May-17
CARE RATINGS	1698.00	1800.00	1694.95	03-Apr-17
GILLETTE INDIA	5200.00	5220.00	5199.70	04-Jul-17
GODREJ CONSUMER	975.80	998.80	993.20	04-Jul-17
GRUH FINANCE	494.00	508.00	498.95	07-Jul-17
GUJ FLUOROCHEM	858.00	865.00	844.00	07-Jul-17
INDUSIND BANK	1548.80	1550.00	1537.40	09-Jun-17
JSW STEEL	217.80	219.20	216.70	07-Jul-17
L&T FIN.HOLDINGS	149.80	151.70	151.40	06-Jul-17
MAHINDRA HOLIDAY	436.00	469.00	438.60	07-Jul-17
MARUTI SUZUKI	7448.35	7500.00	7490.00	06-Jul-17
PRESTIGE ESTATES	283.20	288.00	285.60	07-Jul-17
RAIN INDUSTRIES	129.05	132.90	130.00	07-Jul-17
RELIANCE INDS.	1497.00	1508.00	1497.00	07-Jul-17
TUBE INVESTMENTS	772.25	775.95	755.40	07-Jul-17
TVS MOTOR CO.	573.15	585.00	574.85	07-Jul-17
UFLEX	422.85	427.55	422.00	07-Jul-17