Street signs: Share sale overhang on L&T, Relaxo Footwear stock, and more

More companies hit 52-week high 

Equity markets have witnessed a sharp improvement in investor sentiment. Last week, over two dozen companies in the top 500 universe hit fresh one-year highs, up from just 10 companies in the preceding week. The list of 25 companies that hit 52-week highs, was dominated by mid-cap pharma and financial stocks. Besides the list had some public sector names like Allahabad Bank, REC and Power Finance Corporation. Experts say institutional investors, including overseas ones, are lapping up shares of good quality mid-cap companies with high growth potential.

Samie Modak

Share sale overhang on L&T

Market players are expecting shares