Of these 16 stocks include ITC, Grasim Industries, Aditya Birla Nuvo, Godrej Consumer Products, Avanti Feeds and Minda Industries, 13 stocks are trading at their record highs.
Ashok Leyland surged 7% to Rs 101 after the company reported 11% year on year growth in its total sales in June to 12,330 units from 11,108 units in the same month a year ago.
The company has reported a 6% growth in medium and heavy commercial vehicle (M&HCV) sales in June. The company sold 9,202 units of M&HCV in June 2017 against 8,685 units in the year-ago period. The company's light commercial vehicles (LCV) sale grew 29% to 3,128 units from 2,423 units in the corresponding month in 2016.
Shares of cigarette companies ITC (9% at 353) and VST Industries (5% at 3,774) hit record highs in the backdrop of implementation of the goods and services tax (GST) from July 1.
Analysts at Reliance Securities expect ITC to benefit in GST regime, as the tax outgo will remain similar to the current tax structure. That apart, the new regime also provides more clarity and uniformity in taxes across states.
Shares of Kumar Mangalam Birla – promoted Aditya Birla Group companies, Grasim Industries (up 4% at Rs 1,287) and Aditya Birla Nuvo (up 4% at Rs 1,929) continued their upward movement hitting their respective new highs ahead of the scheme of amalgamation.
Grasim Industries has fixed July 06, 2017 as the record date-1 for merger of Aditya Birla Nuvo (ABNL) with Grasim Industries in terms of the scheme for determining the entitlement of the equity shareholders of ABNL to receive fully paid up equity shares of Grasim Industries in the ratio of 15 fully paid up equity share of Rs 2 each of Grasim Industries credited as fully paid-up for every 10 fully paid up equity shares of 10 each, held by such shareholder in ABNL.
After the merger, the financial services business of Nuvo will be de-merged and listed. Grasim shareholders will receive free shares in Aditya Birla Capital (formerly Aditya Birla Financial Services). Seven shares of the financial services company will be offered for every one equity shares of Grasim (post merger).
Grasim Industries has fixed July 20, 2017 as the record date-2 for the demerger of the financial services business of the company to Aditya Birla Capital (ABCL).
Premji Invest, Wipro Chairman Azim Premji’s investment arm, has picked up 2.2%t stake worth Rs 700-crore in ABCL at a valuation of Rs 32,000 crore ahead of its listing next month.
|COMPANY||LATEST||52 WK HIGH||PREV HIGH||PREV DATE|
|ADITYA BIR. NUV.||1920.00||1921.00||1893.00||30-Jun-17|
|LAK. MACH. WORKS||5376.00||5494.70||5370.00||14-Jun-17|
|THOMAS COOK (I)||252.30||254.00||252.00||30-Jun-17|