Infosys, Asian Paints, Bajaj Auto, Hero MotoCorp, IndusInd Bank, Yes Bank, Kotak Mahindra Bank and Zee Entertainment Enterprises are eight stocks from the Nifty 50 index touching their respective 52-week highs on the National Stock Exchange (NSE) in intra-day trade today.
Of these, five stocks - Infosys, Asian Paints, IndusInd Bank, Kotak Mahindra Bank and Yes Bank are quoting at their lifetime highs on the NSE.
Nifty 50 index hit an intra-day high of 8,262, its highest level since October 26, 2015. In the past nine trading sessions, the index has gained 6.9% from 7,731 on May 23, after companies reported better-than-expected results for the quarter ended March 2016 (Q4FY16).
Include, Bajaj Finance, Godrej Consumer Products, Manappuram Finance, MphasiS, Muthoot Finance, Pidilite Industries, Sharda Cropchem, Shree Cement, SKS Microfinance and V-Guard Industries are among 26 stocks from Nifty 500 index too hit their 52-week highs.
Shares of two-wheelers maker - Hero MotoCorp and Bajaj Auto - were up 2% each at Rs 3,211 and Rs 2,659, respectively in intra-day trade on the NSE.
Hero MotoCorp on Thursday said a good monsoon after two consecutive years of sub-normal rains could lead to a change in sentiments in the rural markets, which may lead to a positive turn-around in the industry in the second half of this fiscal.
Three private sector banks – Yes Bank, IndusInd Bank and Kotak Mahindra Bank – trading at their lifetime highs after reported a good set of numbers for Q4.
V-Guard Industries hit a record high of Rs 1,430, surging 52% since May 2, post Q4 results. The company reported more than doubled net profit of Rs 42 crore for Q4FY2016, driven by healthy revenue growth and strong margin expansion. The management said the business outlook remains positive during the first half of the current fiscal (FY16-17).