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Besides these three stocks, Bajaj Finance, TVS Motor Company, Gillette India, CARE Ratings, IndusInd Bank, Prestige Estates, JSW Steel and L&T Finance Holdings are among 20 stocks from the S&P BSE 500 index touched 52-week highs today.
Bharti Airtel rallied 5% to Rs 405, its highest level since August 2015 on BSE. Thus in 2017, the stock of telecom services provider outperformed the market by gaining 33% as compared to 19% rise in the S&P BSE Sensex.
According to Business Standard reports, Bharti Airtel is among the frontrunners looking at acquiring FreeCharge, an online mobile wallet platform in the Snapdeal portfolio.
The telco had recently launched Airtel Payments Bank and it also has an online wallet-Airtel Money, added report. CLICK HERE TO READ FULL REPORT.
IndusInd Bank was up 2% to Rs 1,550, also its record high on BSE ahead of its first quarter (April to June, 2017) earnings tomorrow, July 11, 2017. The stock of private sector lender rallied 40% thus far in the current calendar year 2017.
“IndusInd Banks’ loan growth to be higher than industry, with the continued tilt towards consumer finance division. Fee income trends to continue superior performance. Asset quality trends will likely be stable (provision benefit likely to percolate from recent deal in cement segment),” Edelweiss Securities said in Q1FY18 results preview.
Kotak Institutional Equities Research expects loan growth at around 22% yoy, led by steady growth in retail business. NIM (net interest margin) will remain stable qoq supported by higher share of retail loans. The growth in fee income is to slow down.
“We see limited asset-quality stress but provisions will decline qoq as a stressed asset will be upgraded following the recent completion of a transaction (M&A) involving sale of assets,” the brokerage firm said in results preview.
|COMPANY||LATEST||52 WK HIGH||PREV HIGH||PREV DATE|
|TVS MOTOR CO.||573.15||585.00||574.85||07-Jul-17|