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Infosys, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Adani Ports and Special Economic Zone, Abbott India and Torrent Pharmaceuticals are among 22 stocks that have hit their lifetime highs in intra-day trades today.
Positive corporate announcements and better-than–expected net profit growth for the quarter ended June 2015 (Q1FY16) have fuelled the rally in these stocks.
At 11:23 AM, the S&P BSE Sensex and CNX Nifty were up 1.5% and 1.4% respectively. In the past five trading sessions, the benchmark indices had corrected nearly 3% each till yesterday.
Adani Ports has surged nearly 9% to Rs 364, extending its previous day’s 4% gain on the NSE as the company will be included in the benchmark CNX Nifty-50 index with effect from September 28.
Glenmark Pharmaceuticals has soared by 12% to Rs 1,184 on inclusion in the MSCI Emerging Markets Index from close of August 31, 2015.
A place in the Nifty-50 and MSCI Emerging Markets Index are a big positive for Adani Ports and Special Economic Zone, and Glenmark Pharmaceuticals, as these stocks will see buying by index funds that track the indices.
Torrent Pharmaceuticals has touched a new high of Rs 1,606, having rallied by 17% post June quarter results on July 27. The company had reported a strong 75% year-on-year rise in consolidated net profit at Rs 449 crore for Q1FY16, mainly on account of a new product launch in the US.
Infosys too hit a record high of Rs 1,169 on the NSE in intra-day trades. The stock has outperformed the market in the past one month, rising 23% from Rs 950 on July 13 after the company reported better-than-expected results for the quarter ended June 2015. The CNX Nifty has been flat, while CNX IT index has gained 9.5% during the same period.
Centrum Broking has recommended ‘buy’ rating on the Infosys stock with target price of Rs 1,235 post June quarter results.
“A solid 1Q sets Infosys on track to narrow its gap with other Tier 1 information technology (IT) vendors (TCS/HCL Tech) on the USD revenue growth front. We expect Infosys to be most aggressive in acquisitions under the leadership of Dr Sikka,” a Centrum Broking analyst has said in a research report.
Meanwhile, Abbott India, Stovec Industries, Lambodhara Textiles, Sandesh and Kesar Petroproducts are some other stocks to touch their respective lifetime highs today.
Positive corporate announcements and better-than–expected net profit growth for the quarter ended June 2015 (Q1FY16) have fuelled the rally in these stocks.
At 11:23 AM, the S&P BSE Sensex and CNX Nifty were up 1.5% and 1.4% respectively. In the past five trading sessions, the benchmark indices had corrected nearly 3% each till yesterday.
Adani Ports has surged nearly 9% to Rs 364, extending its previous day’s 4% gain on the NSE as the company will be included in the benchmark CNX Nifty-50 index with effect from September 28.
Glenmark Pharmaceuticals has soared by 12% to Rs 1,184 on inclusion in the MSCI Emerging Markets Index from close of August 31, 2015.
A place in the Nifty-50 and MSCI Emerging Markets Index are a big positive for Adani Ports and Special Economic Zone, and Glenmark Pharmaceuticals, as these stocks will see buying by index funds that track the indices.
Torrent Pharmaceuticals has touched a new high of Rs 1,606, having rallied by 17% post June quarter results on July 27. The company had reported a strong 75% year-on-year rise in consolidated net profit at Rs 449 crore for Q1FY16, mainly on account of a new product launch in the US.
Infosys too hit a record high of Rs 1,169 on the NSE in intra-day trades. The stock has outperformed the market in the past one month, rising 23% from Rs 950 on July 13 after the company reported better-than-expected results for the quarter ended June 2015. The CNX Nifty has been flat, while CNX IT index has gained 9.5% during the same period.
Centrum Broking has recommended ‘buy’ rating on the Infosys stock with target price of Rs 1,235 post June quarter results.
“A solid 1Q sets Infosys on track to narrow its gap with other Tier 1 information technology (IT) vendors (TCS/HCL Tech) on the USD revenue growth front. We expect Infosys to be most aggressive in acquisitions under the leadership of Dr Sikka,” a Centrum Broking analyst has said in a research report.
Meanwhile, Abbott India, Stovec Industries, Lambodhara Textiles, Sandesh and Kesar Petroproducts are some other stocks to touch their respective lifetime highs today.
| Price on BSE in Rs | |||
| Company | 31 Dec,14 | 14 Aug,15* | % chg |
| Glenmark Pharma. | 770.35 | 1122.95 | 45.8 |
| Torrent Pharma. | 1131.30 | 1594.00 | 40.9 |
| Dr Reddy's Labs | 3244.95 | 4322.75 | 33.2 |
| Abbott India | 3794.10 | 4835.45 | 27.4 |
| Infosys | 985.60 | 1155.75 | 17.3 |
| Adani Ports | 318.45 | 361.70 | 13.6 |
| S&P BSE Sensex | 27499.42 | 27931 | 1.6 |
| CNX Nifty | 8282.70 | 8483 | 2.4 |
| *Price as at 11:23 AM | |||
| BSE-500 stocks | |||
