Shares of Reliance Industries
(RIL), Avenue Supermarts
(the operator of D-Mart), Dabur India, Nestle India, Exide Industries, Whirlpool of India
and KPIT Technologies
were among 18 stocks from the S&P BSE 500 index that hit their respective new highs on the BSE on Wednesday.
Footwear stocks Bata India and Relaxo Footwear, graphite electrode manufacturers HEG and Graphite India, financials companies Bajaj Finserve, Indiabulls Ventures and IndusInd Bank were also at record high levels today.
hit a new high of Rs 1,203, up 1.4%, extending its 22% rally in the month of July. The company today announced that an international arbitration panel has issued an award in favour of Reliance, BP & Niko (Consortium) rejecting completely the claims of the Government of India against the Consortium in respect of migrated gas, by a majority of 2 to 1.
The Tribunal also awarded costs of USD 8.3 million (Rs 564.4 million) to be paid by the Government of India to the Consortium, it added.
was up 3% at Rs 433, surging 17% in past one week, after the company on Tuesday reported 25% year-on-year (y-o-y) growth in net profit at Rs 3.3 billion in the June quarter. This was owing to strong volume-led growth and softer commodity prices.
The ayurveda major’s net sales surged 16% y-o-y to Rs 20.8 billion during the quarter from Rs 17.9 billion in the earlier period. During the quarter, Dabur’s volumes grew 21% y-o-y — the highest in a decade for the company — helping its topline surge above Street estimates.
The graphite electrode players HEG (up 2% at Rs 4,400) and Graphite India (up 1.3% at Rs 1,031) hit new highs on the BSE in intra-day trade ahead of Q1FY19 results. HEG is scheduled to announce its June quarter results today.
“We expect HEG and Graphite India to continue to report a healthy performance on the back of increasing realisations. HEG’s topline is likely to increase around 649% YoY, 19% QoQ while Graphite India’s top line is expected to increase around 347% YoY and around 29% QoQ. We expect companies to report a robust EBITDA. HEG and Graphite India are likely to report strong EBITDA margins of 66.7% and 63.5%, respectively,” ICICI Securities said in result preview.