Infosys, Indiabulls Ventures, Relaxo Footwears hit new high

Shares of Infosys, Indiabulls Ventures, Relaxo Footwears, Bajaj Finserv, NIIT Technologies and VIP Industries were among 11 stocks from the S&P BSE500 index hitting their respective new highs on the BSE on Wednesday.

Asian Paints, Berger Paints, Exide Industries, Godrej Consumer Products and Whirlpool India too hit record highs in intra-day trade today.

Shares of Infosys were trading higher for the fourth straight day, hitting a new high of Rs 1,392 per share, up 1.2% on the BSE in noon deal trade.

Earlier on July 16, the stock hit an intra-day high of Rs 1,384 after the Infosys had  reported an in-line performance for the first quarter ended June 2018 (Q1FY19) and its board approved the issuance of one free share for every share held (that is a 1:1 bonus issue).

Indiabulls Ventures has locked in upper circuit for the second straight day at Rs 558, up 5% on the BSE after the company reported a strong 95% year on year (YoY) growth in consolidated net profit at Rs 877 million in June 2018 quarter (Q1FY19). The financial services company had profit of Rs 450 million in year ago quarter.

The stock rallied 21% in past seven trading day, surpassed its previous high of Rs 545 recorded on May 10, 2018 during intra-day trade.

Indiabulls Ventures’  operational revenue during the quarter under review more than doubled at Rs 3.52 billion against Rs 1.62 billion in the corresponding quarter of previous fiscal. The assets under management (AUM) grew 62% to Rs 64.82 billion from Rs 40 billion in March 2018 quarter.

Relaxo Footwears touched a new high of Rs 828, up 3.5% in intra-day trade today. The stock of footwear company was up 8% in past three trading sessions after the GST Council on Saturday reduced tax rates on footwear priced up to Rs 1,000 to 5% from 18% (earlier, footwear priced up to Rs 500 used to attract GST at 5%).

ASIAN PAINTS 1462.95 1488.60 1475.00 24-Jul-18
BAJAJ FINSERV 6984.80 7074.45 7000.00 23-Jul-18
BERGER PAINTS 319.20 325.35 322.00 23-Jul-18
EXIDE INDS. 276.90 278.00 275.00 11-Jul-18
GODREJ CONSUMER 1360.00 1378.00 1366.90 24-Jul-18
INDIABULLS VENT. 557.00 557.95 544.60 10-May-18
INFOSYS 1383.10 1392.10 1384.40 16-Jul-18
NIIT TECH. 1232.45 1247.40 1225.15 24-Jul-18
RELAXO FOOTWEAR 820.70 827.65 815.00 23-Jul-18
V I P INDS. 483.80 491.95 481.90 24-Jul-18
WHIRLPOOL INDIA 1681.75 1709.95 1700.00 24-Jul-18