 "Midcap index closes fresh record high")
The BSE (Bombay Stock Exchange) S&P Midcap index and the National Stock Exchange (NSE) Nifty Mid100 indices hit their respective record highs Monday on the back of strong inflow by foreign investors and robust first quarter earnings from companies in the aforesaid indices.
The S&P BSE Midcap and Nifty Mid100 indices closed 1% higher at 12,824 and 14,918 points respectively, as compared to less than 0.4% rise in the benchmark indices.
Hindustan Petroleum Corporation (HPCL), YES Bank, Ajanta Pharma, Biocon, Havells India, Indraprastha Gas and SRF from these indices touched lifetime highs in intra-day today.
Britannia Industries, Colgate-Palmolive (India), Torrent Power, Cummins India, Procter & Gamble Hygiene and Health Care, L&T Finance Holdings, HPCL, Just Dial, Tata Elxsi and Thermax ended higher between 5%-9%.
Foreign institutional investors (FIIs) have been buying Indian shares for 21 sessions in a row, their longest such winning streak since November 2013. Between July 8 and August 5, in 21 trading sessions, FIIs have invested a net of Rs 14,162 crore ($2.1 billion) in Indian equities, according to data from National Securities Depository Ltd (NSDL).
Britannia Industries closed 9% higher at Rs 3,152, after hitting 52-week high of Rs 3,184 on BSE, after the company reported a consolidated net profit of Rs 221 crore against an average analyst estimate of Rs 210 crore for the quarter ended June 30, 2016 (Q1FY17). The packaged foods company had registered a profit of Rs 195 crore in the same quarter last year.
Colgate-Palmolive (India) closed 6% higher at Rs 1,016 after the company reported 8.4% profit growth and 6% volume growth in the June quarter over the previous year.
The company engaged in personal products business reported 126 crore net profit in Q1FY17 against Rs 116 crore in the same period last year. Total income from operations grew 12.4% at Rs 1,149 crore on year on year basis.
HPCL up 5% at Rs 1,314 after the Reserve Bank of India (RBI) increased the limit of foreign shareholding in the company to up to 40% from 24%.
“Foreign Institutional Investors (FIIs) / Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 24% to 40% of the paid up capital of the Company under the Portfolio Investment Scheme (PIS),” the Reserve Bank of India (RBI) said in a notification on August 05, 2016.
The S&P BSE Midcap and Nifty Mid100 indices closed 1% higher at 12,824 and 14,918 points respectively, as compared to less than 0.4% rise in the benchmark indices.
Hindustan Petroleum Corporation (HPCL), YES Bank, Ajanta Pharma, Biocon, Havells India, Indraprastha Gas and SRF from these indices touched lifetime highs in intra-day today.
Britannia Industries, Colgate-Palmolive (India), Torrent Power, Cummins India, Procter & Gamble Hygiene and Health Care, L&T Finance Holdings, HPCL, Just Dial, Tata Elxsi and Thermax ended higher between 5%-9%.
Foreign institutional investors (FIIs) have been buying Indian shares for 21 sessions in a row, their longest such winning streak since November 2013. Between July 8 and August 5, in 21 trading sessions, FIIs have invested a net of Rs 14,162 crore ($2.1 billion) in Indian equities, according to data from National Securities Depository Ltd (NSDL).
Britannia Industries closed 9% higher at Rs 3,152, after hitting 52-week high of Rs 3,184 on BSE, after the company reported a consolidated net profit of Rs 221 crore against an average analyst estimate of Rs 210 crore for the quarter ended June 30, 2016 (Q1FY17). The packaged foods company had registered a profit of Rs 195 crore in the same quarter last year.
Colgate-Palmolive (India) closed 6% higher at Rs 1,016 after the company reported 8.4% profit growth and 6% volume growth in the June quarter over the previous year.
The company engaged in personal products business reported 126 crore net profit in Q1FY17 against Rs 116 crore in the same period last year. Total income from operations grew 12.4% at Rs 1,149 crore on year on year basis.
HPCL up 5% at Rs 1,314 after the Reserve Bank of India (RBI) increased the limit of foreign shareholding in the company to up to 40% from 24%.
“Foreign Institutional Investors (FIIs) / Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 24% to 40% of the paid up capital of the Company under the Portfolio Investment Scheme (PIS),” the Reserve Bank of India (RBI) said in a notification on August 05, 2016.
