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Manappuram Finance, L&T, Titan among 34 BSE500 stocks hitting new high

Bharat Forge, Biocon, JSW Steel, Unichem Laboratories and Dabur India were among 34 stocks from the S&P BSE500 index hitting their respective new highs on BSE on Monday.

SI Reporter  |  Mumbai 

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Manappuram Finance, Larsen & Toubro (L&T), Titan Company, Bharat Forge, Biocon, JSW Steel, Unichem Laboratories and Dabur India were among 34 stocks from the S&P BSE500 index hitting their respective new highs on BSE on Monday.

The stock of microfinance company rallied 5% to Rs 126, surpassing its previous high of Rs 125 touched on December 29, 2017 in intra-day trade.

According to rating agency ICRA, the Indian microfinance sector is seeing an improvement in asset quality as it recovers from the effects of demonetisation.

"There is a visible improvement in asset quality across all locations, except the Vidarbha region in Maharashtra State and some districts in Madhya Pradesh. Several micro-finance institutions have reported over 98% collection ratios for the loans originated in calendar year 2017. Consequently, the fresh slippage of loans into softer delinquency buckets has been arrested and non-performing asset levels seem to have peaked," says Vibhor Mittal, Head -- Structured Finance at ICRA Ratings.

According to ICRA, various factors have helped curtail the 0+ days past due rates from a peak of around 23.6% as of February 2017 to around 17.9% as of September 2017.

With some easing seen in the credit discipline associated with the joint liability group model, ICRA expects annualized credit costs in the micro-finance institutions asset class to stabilize at 2.5%-3.5%. However, given the marginal income profile and politically sensitive nature of the related borrower segment, asset quality will remain volatile and susceptible to one-off events, it added.

hit a new high of Rs 1,336, up 1.6%, extending its past week’s 5% gain on BSE. The company today said the transportation infrastructure and water & effluent treatment businesses of Construction have jointly bagged three EPC orders worth about Rs 23 billion from Andhra Pradesh Capital Region Development Authority (APCRDA).

The scope of work includes investigation, design & construction of roads, drains, culverts, water supply, sewerage, sewerage treatment plants, utility ducts for power & ICT, reuse waterline & avenue plantation for land pooling schemes in Zones – 6, 7 and 10 areas of Amaravati capital city. The package is part of the master plan to develop Amaravati into a Smart city with infrastructure on par with the best in the world, it added.

up 1.8% to Rs 925, gaining 9.5% in past four trading sessions, after the company on January 2, after market hours said jewellery retail sales in October-December quarter (Q3FY18) has been healthy and in line with internal management expectations, despite Dussera being celebrated in the previous quarter.

Unichem Laboratories hit a fresh high of Rs 363, up 3%, ahead of board meeting today to consider share buyback proposal. In past four trading sessions, the stock soared 12% after the pharmaceutical company announced that the board of directors of the company at their meeting scheduled on January 8, 2018 shall consider a proposal to buy-back the fully paid-up equity shares of the company.

AEGIS LOGISTICS 294.45 299.70 297.30 05-Jan-18
ALKEM LAB 2213.20 2252.65 2250.00 29-Dec-17
ALLCARGO LOGIST. 224.35 227.65 221.60 01-Aug-16
BASF INDIA 2387.45 2430.00 2280.00 21-Dec-17
BHARAT FORGE 745.00 750.00 750.00 05-Jan-18
BIOCON 557.85 563.60 548.45 27-Dec-17
BIRLA CORPN. 1254.70 1290.00 1254.05 05-Jan-18
BLUE STAR 813.80 845.00 838.05 28-Dec-17
BOMBAY DYEING 295.60 304.20 303.80 20-Dec-17
CESC 1110.00 1113.00 1103.80 05-Jan-18
DABUR INDIA 360.00 362.00 361.00 03-Jan-18
DEEPAK NITRITE 282.00 285.80 245.00 05-Jan-18
FINOLEX CABLES 734.00 741.25 728.45 29-Dec-17
GUJ ALKALIES 792.20 819.30 818.10 07-Nov-17
HEXAWARE TECH. 363.70 365.10 358.80 05-Jan-18
HIMADRI SPECIALT 180.00 181.30 178.30 30-Oct-17
HIMATSING. SEIDE 406.00 410.15 410.00 01-Jan-18
JSW STEEL 285.45 290.10 289.90 05-Jan-18
LAK. MACH. WORKS 6500.50 6628.15 6614.95 05-Jan-18
LARSEN & TOUBRO 1330.35 1335.95 1328.80 05-Jan-18
LINDE INDIA 558.45 564.95 559.95 05-Jan-18
M & M FIN. SERV. 485.45 490.70 488.90 20-Dec-17
MANAPPURAM FIN. 125.10 126.40 125.30 29-Dec-17
PC JEWELLER 496.90 499.15 496.45 05-Jan-18
PHILLIPS CARBON 1462.05 1468.60 1326.30 04-Jan-18
RADICO KHAITAN 321.50 326.05 324.00 05-Jan-18
RAYMOND 1103.70 1128.95 1117.20 05-Jan-18
SHRIRAM TRANS. 1515.00 1519.65 1494.50 29-Dec-17
SOUTH IND.BANK 33.65 33.80 33.45 30-Nov-17
SUN TV NETWORK 1044.35 1049.50 1045.00 05-Jan-18
SYMPHONY 1983.50 2050.00 2040.00 05-Jan-18
T N NEWSPRINT 497.35 499.00 483.80 05-Jan-18
TITAN COMPANY 918.95 924.50 912.45 05-Jan-18
UNICHEM LABS. 357.70 362.85 359.70 04-Jan-18

First Published: Mon, January 08 2018. 12:32 IST