Bata India, Sterlite Technologies, Birla Corporation, Bombay Burmah Trading, Chambal Fertilisers & Chemicals, Deepak Fertilisers & Petrochemicals Corporation, KRBL and Petronet LNG are among the other stocks that scaled new highs today.
Bombay Burmah Trading, the top gainer among the pack, rallied 9% to Rs 1,494 on BSE in intra-day trade. The company engaged in tea & coffee business has rallied 71% from Rs 871 on August 3, after it reported a good set of numbers for June quarter (Q1FY18). The company’s net losses narrowed to Rs 1.69 crore in Q1FY18 from Rs 3.67 crore in a year ago quarter.
Hindalco Industries surged 5% to Rs 262 on expectation of good financial results for the second quarter ended September 2017 (Q2FY18). In past two months, post Q1FY18 results, the stock was up 11% against 1% gain in the benchmark Sensex.
“Hindalco overall standalone EBITDA (earnings before interest tax would improve by 16% QoQ, driven by higher volume & prices as well as higher TC/RC (treatment charge and refining charge) margin at its copper business,” analysts at Elara Securities (India) said in quarterly preview.
NBCC (India) too up 5% to Rs 231 on the BSE, after the company said it has awarded the contract for construction of multi storey commercial space at GPRA colony, Nauroji Nagar, New Delhi on design, engineering, procurement and construction (EPC) basis to NCC for Rs 1,949 crores (approx) with completion period of two years.
The company will get project management consultancy fee on the project cost @ 8.00% and revenue booking from the project will start from October, 2017, it added.
Britannia Industries (4% at Rs 4,570) and Dabur India (3% at Rs 328) from the fast moving consumer goods (FMCG) sector too hit new highs on hopes of recovering in volume growth.
“Favourable base effects and normalization of Goods and Service Tax (GST)/demonetization-related disruption should boost growth in H2FY18. Q2FY18 is likely to see volume-led growth and flat Ebitda margins for the sector. We expect Marico, Emami, Britannia, and Nestle to clock double-digit growth,” analysts at IIFL Institutional Equities said in FMCG results preview.
“Currently with enforcement of GST in FMCG sector, we expect revival and improvement in stocking of goods which will leads to recover demand scenario in festive season both from rural and urban, also we observed good monsoon during Q2FY18, expansion in distribution channel and lastly enhancement in consumer spending on discretionary and non-discretionary products” analyst at Kisan Ratilal Choksey Shares and Securities said Q1FY18 results preview.
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|TVS MOTOR CO.||690.20||693.70||692.50||11-Oct-17|