Apollo Hospitals Enterprises, Granules India, Torrent Pharma, Abbott India, Alkem Laboratories and Divi’s Laboratories from the healthcare sector; PVR and INOX Leisure from the multiplex operators and Ircon International and Indian Railway Catering and Tourism Corporation (IRCTC) from the rail-related sector also hit their new highs.
HUL, the fast moving consumer goods (FMCG) giant, hit a new high of Rs 2,307, up 3 per cent on the BSE. Thus far in the current calendar year 2020, HUL
has outperformed the market by surging 20 per cent. In comparison, the benchmark S&P BSE Sensex has remained unchanged.
Analysts believe the company’s focus on innovation and market development will help the company in achieving sustainable volume and value growth going forward. They expect HUL’s high-teens earnings growth on an organic basis (23 per cent CAGR including the GlaxoSmithKline Consumer Healthcare merger and synergies) witnessed in recent years to continue.
Shares of IRCTC, the online ticketing, tourism and the catering arm of railways, rallied 10 per cent to Rs 1,798, its highest level since listing on October 14, 2019. In the past two trading days, it has rallied 18 per cent ahead of the commercial run of Kashi Mahakal Express, the third train operated by it, from Thursday, February 20.
Nippon Life India Asset Management surged 9 per cent to Rs 429, surpassing its previous high of Rs 412 touched on February 20, 2020. In the past one month, the stock soared 24 per cent, after it reported Rs 193 crore profit before tax (PBT) in December quarter, a jump of 18.4 per cent from corresponding period in last fiscal.
Following Nippon taking over full ownership of the AMC, the management said there has been reversal of declining asset base. The average assets under management for December quarter stood at Rs 2.04 trillion for the mutual fund business.