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S&P BSE 500 index hits record high

HDFC Bank, IndusInd Bank, Cadila Healthcare, Biocon, TVS Motor, Alkem Lab and Escorts hit new highs

SI Reporter  |  Mumbai 

S&P BSE 500 index hits record high

The index hit a record high on Friday after strong rally in select private sector banks, pharmaceutical and automobile stocks.

At 10:28 am; the index was up 0.48% or 57 points at 12,064 points. It touched new high of 12,127 points during intra-day trade, surpassing its previous high of 12,105 hit on February 9, 2017.


Since December 26, from its recent low, the index has outperformed the market by surging 13.4% as compared to 10% rise in the benchmark S&P BSE Sensex.

and from the private sector bank, Cadila Healthcare, and Alkem Laboratories from pharmaceutical and Company and from the automobile sector from the BSE500 index were trading at their record highs.

index represents nearly 92% of the total market capitalization on BSE. covers all 20 major industries of the economy.

Total 9 stocks include Bharat Financial Inclusion, Manappuram Finance, Jaiprakash Associates, Yamini Investments, Sun TV Network, Idea Cellular, Aegis Logistics, Rain Industries and India Cements from the index have rallied between 50% and 109% since December 26.

Among the individual stocks, has rallied 9% to Rs 1,450, also its record high of the BSE in intra-day trade, after the Reserve Bank of India (RBI) removed restrictions placed on purchase of bank shares by foreign portfolio investors.

soars 7% to Rs 460, extending Thursday’s 20% surge, after the pharma company said the US health regulator has inspected the firm's Moraiya plant and found it meeting the manufacturing norms.

"United States Food and Drug Administration (USFDA) inspected company's Moraiya facility from February 6, 2017 to February 15, 2017. At the end of the inspection no observation (483) is issued," said in a filing to BSE.

did not got any 483 issued in favour of its Moriaya plant. This marks an important relief for the company," said Sarabjit Kour Nangra VP Research - Pharma, Angel Broking.

“Moriaya plant is a significant contributor to the overall sales of the company and has around 74 pending approvals, of the > 200 ANDA’s pending approval (at the company level). Though after the approval the plant will take time to get approvals for its ANDA’s from this plant and hence will have a long term positive impact on the company,” said Nangra.

too hit a new high of Rs 1,123, up 2.5% on the BSE in intra-day trade, after the company said that the USFDA has accepted their application for the proposed biosimilar pegfilgrastim for review.

COMPANY LATEST ALL TIME HIGH PREV HIGH PREV DATE
ALKEM LAB 1997.90 2028.00 2019.00 16-Feb-17
BIOCON 1112.95 1123.00 1115.00 07-Feb-17
CADILA HEALTH. 451.00 460.00 454.40 23-Oct-15
CESC 863.00 873.80 870.15 14-Feb-17
ELGI EQUIPMENT 213.10 216.95 210.95 13-Feb-17
ESCORTS 414.45 418.50 414.80 15-Feb-17
HDFC BANK 1415.00 1450.00 1333.20 16-Feb-17
INDUSIND BANK 1342.80 1364.30 1345.00 14-Feb-17
L&T FIN.HOLDINGS 115.60 116.35 115.00 16-Feb-17
SJVN 35.70 36.00 35.95 16-Feb-17
TVS MOTOR CO. 426.05 429.30 423.50 16-Feb-17

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S&P BSE 500 index hits record high

HDFC Bank, IndusInd Bank, Cadila Healthcare, Biocon, TVS Motor, Alkem Lab and Escorts hit new highs

HDFC Bank, IndusInd Bank, Cadila Healthcare, Biocon, TVS Motor, Alkem Lab, Escorts, SJVN and CESC hit record highs.
The index hit a record high on Friday after strong rally in select private sector banks, pharmaceutical and automobile stocks.

At 10:28 am; the index was up 0.48% or 57 points at 12,064 points. It touched new high of 12,127 points during intra-day trade, surpassing its previous high of 12,105 hit on February 9, 2017.

Since December 26, from its recent low, the index has outperformed the market by surging 13.4% as compared to 10% rise in the benchmark S&P BSE Sensex.

and from the private sector bank, Cadila Healthcare, and Alkem Laboratories from pharmaceutical and Company and from the automobile sector from the BSE500 index were trading at their record highs.

index represents nearly 92% of the total market capitalization on BSE. covers all 20 major industries of the economy.

Total 9 stocks include Bharat Financial Inclusion, Manappuram Finance, Jaiprakash Associates, Yamini Investments, Sun TV Network, Idea Cellular, Aegis Logistics, Rain Industries and India Cements from the index have rallied between 50% and 109% since December 26.

Among the individual stocks, has rallied 9% to Rs 1,450, also its record high of the BSE in intra-day trade, after the Reserve Bank of India (RBI) removed restrictions placed on purchase of bank shares by foreign portfolio investors.

soars 7% to Rs 460, extending Thursday’s 20% surge, after the pharma company said the US health regulator has inspected the firm's Moraiya plant and found it meeting the manufacturing norms.

"United States Food and Drug Administration (USFDA) inspected company's Moraiya facility from February 6, 2017 to February 15, 2017. At the end of the inspection no observation (483) is issued," said in a filing to BSE.

did not got any 483 issued in favour of its Moriaya plant. This marks an important relief for the company," said Sarabjit Kour Nangra VP Research - Pharma, Angel Broking.

“Moriaya plant is a significant contributor to the overall sales of the company and has around 74 pending approvals, of the > 200 ANDA’s pending approval (at the company level). Though after the approval the plant will take time to get approvals for its ANDA’s from this plant and hence will have a long term positive impact on the company,” said Nangra.

too hit a new high of Rs 1,123, up 2.5% on the BSE in intra-day trade, after the company said that the USFDA has accepted their application for the proposed biosimilar pegfilgrastim for review.

COMPANY LATEST ALL TIME HIGH PREV HIGH PREV DATE
ALKEM LAB 1997.90 2028.00 2019.00 16-Feb-17
BIOCON 1112.95 1123.00 1115.00 07-Feb-17
CADILA HEALTH. 451.00 460.00 454.40 23-Oct-15
CESC 863.00 873.80 870.15 14-Feb-17
ELGI EQUIPMENT 213.10 216.95 210.95 13-Feb-17
ESCORTS 414.45 418.50 414.80 15-Feb-17
HDFC BANK 1415.00 1450.00 1333.20 16-Feb-17
INDUSIND BANK 1342.80 1364.30 1345.00 14-Feb-17
L&T FIN.HOLDINGS 115.60 116.35 115.00 16-Feb-17
SJVN 35.70 36.00 35.95 16-Feb-17
TVS MOTOR CO. 426.05 429.30 423.50 16-Feb-17

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Business Standard
177 22

S&P BSE 500 index hits record high

HDFC Bank, IndusInd Bank, Cadila Healthcare, Biocon, TVS Motor, Alkem Lab and Escorts hit new highs

The index hit a record high on Friday after strong rally in select private sector banks, pharmaceutical and automobile stocks.

At 10:28 am; the index was up 0.48% or 57 points at 12,064 points. It touched new high of 12,127 points during intra-day trade, surpassing its previous high of 12,105 hit on February 9, 2017.

Since December 26, from its recent low, the index has outperformed the market by surging 13.4% as compared to 10% rise in the benchmark S&P BSE Sensex.

and from the private sector bank, Cadila Healthcare, and Alkem Laboratories from pharmaceutical and Company and from the automobile sector from the BSE500 index were trading at their record highs.

index represents nearly 92% of the total market capitalization on BSE. covers all 20 major industries of the economy.

Total 9 stocks include Bharat Financial Inclusion, Manappuram Finance, Jaiprakash Associates, Yamini Investments, Sun TV Network, Idea Cellular, Aegis Logistics, Rain Industries and India Cements from the index have rallied between 50% and 109% since December 26.

Among the individual stocks, has rallied 9% to Rs 1,450, also its record high of the BSE in intra-day trade, after the Reserve Bank of India (RBI) removed restrictions placed on purchase of bank shares by foreign portfolio investors.

soars 7% to Rs 460, extending Thursday’s 20% surge, after the pharma company said the US health regulator has inspected the firm's Moraiya plant and found it meeting the manufacturing norms.

"United States Food and Drug Administration (USFDA) inspected company's Moraiya facility from February 6, 2017 to February 15, 2017. At the end of the inspection no observation (483) is issued," said in a filing to BSE.

did not got any 483 issued in favour of its Moriaya plant. This marks an important relief for the company," said Sarabjit Kour Nangra VP Research - Pharma, Angel Broking.

“Moriaya plant is a significant contributor to the overall sales of the company and has around 74 pending approvals, of the > 200 ANDA’s pending approval (at the company level). Though after the approval the plant will take time to get approvals for its ANDA’s from this plant and hence will have a long term positive impact on the company,” said Nangra.

too hit a new high of Rs 1,123, up 2.5% on the BSE in intra-day trade, after the company said that the USFDA has accepted their application for the proposed biosimilar pegfilgrastim for review.

COMPANY LATEST ALL TIME HIGH PREV HIGH PREV DATE
ALKEM LAB 1997.90 2028.00 2019.00 16-Feb-17
BIOCON 1112.95 1123.00 1115.00 07-Feb-17
CADILA HEALTH. 451.00 460.00 454.40 23-Oct-15
CESC 863.00 873.80 870.15 14-Feb-17
ELGI EQUIPMENT 213.10 216.95 210.95 13-Feb-17
ESCORTS 414.45 418.50 414.80 15-Feb-17
HDFC BANK 1415.00 1450.00 1333.20 16-Feb-17
INDUSIND BANK 1342.80 1364.30 1345.00 14-Feb-17
L&T FIN.HOLDINGS 115.60 116.35 115.00 16-Feb-17
SJVN 35.70 36.00 35.95 16-Feb-17
TVS MOTOR CO. 426.05 429.30 423.50 16-Feb-17

image
Business Standard
177 22