 "30 stocks from BSE500 index hit record high")
Housing Development Finance Corporation (HDFC), HDFC Bank, Hindustan Unilever, Maruti Suzuki (India) and Kotak Mahindra Bank are among 30 stocks from the S&P BSE 500 index hitting their respective all-time highs on the BSE in intra-day trade on Thursday.
MRF, Ceat, JK Tyre & Industries and Balkrishna Industries from tyre, LIC Housing Finance, Muthoot Finance, PNB Housing Finance and IndusInd Bank from financials and Cadila Healthcare, Natco Pharma and Laurus Labs from the pharmaceuticals also hit record highs today.
Most of the financials including private sector banks and housing financial companies were trading higher after the Reserve Bank of India (RBI) maintained a less hawkish stance and made it easire to lend, by reducing statutory liquidity ratio by 50 basis points to 20 .
MRF, Ceat, JK Tyre & Industries and Balkrishna Industries from tyre, LIC Housing Finance, Muthoot Finance, PNB Housing Finance and IndusInd Bank from financials and Cadila Healthcare, Natco Pharma and Laurus Labs from the pharmaceuticals also hit record highs today.
Most of the financials including private sector banks and housing financial companies were trading higher after the Reserve Bank of India (RBI) maintained a less hawkish stance and made it easire to lend, by reducing statutory liquidity ratio by 50 basis points to 20 .
The RBI further relaxed norms for housing loans by reducing risk weight in a few categories, and cut standard asset provisions on all housing loans.
Analyst at Jefferies believe a cut in standard asset provisioning and relaxation of risk weights on new higher ticket loans by RBI is a positive for housing finance segment.
While government’s interest subsidy scheme was aimed at boosting home loans in the low-mid ticket segment, the change in norms announced should lower capital requirements on mid to higher ticket home loans. HFCs focusing on higher ticket loans may be able to increase leverage, which could also boost RoE, it added.
The frontline tyre stocks such as MRF, Ceat, JK Tyre & Industries and Balkrishna Industries were trading higher as natural rubber prices trading at seven month lows.
Raw material cost forms the largest cost head in the tyre industry accounting for about 65-70% of the total. The main raw materials used to manufacture tyres are natural rubber, poly butadiene rubber (PBR), styrene butadiene rubber (SBR) and nylon tyre cord fabric. All these raw materials impart different properties, which are combined to develop tyres with particular characteristics.
Analyst at Jefferies believe a cut in standard asset provisioning and relaxation of risk weights on new higher ticket loans by RBI is a positive for housing finance segment.
While government’s interest subsidy scheme was aimed at boosting home loans in the low-mid ticket segment, the change in norms announced should lower capital requirements on mid to higher ticket home loans. HFCs focusing on higher ticket loans may be able to increase leverage, which could also boost RoE, it added.
The frontline tyre stocks such as MRF, Ceat, JK Tyre & Industries and Balkrishna Industries were trading higher as natural rubber prices trading at seven month lows.
Raw material cost forms the largest cost head in the tyre industry accounting for about 65-70% of the total. The main raw materials used to manufacture tyres are natural rubber, poly butadiene rubber (PBR), styrene butadiene rubber (SBR) and nylon tyre cord fabric. All these raw materials impart different properties, which are combined to develop tyres with particular characteristics.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| APL APOLLO | 1620.00 | 1678.00 | 1550.00 | 03-May-17 |
| BALKRISHNA INDS | 1607.90 | 1621.00 | 1615.00 | 02-Jun-17 |
| CADILA HEALTH. | 539.20 | 544.00 | 542.40 | 07-Jun-17 |
| CEAT | 1907.00 | 1934.10 | 1929.00 | 07-Jun-17 |
| ENDURANCE TECH. | 886.45 | 920.95 | 920.00 | 07-Jun-17 |
| FINOLEX INDS. | 658.10 | 673.85 | 671.80 | 06-Jun-17 |
| GODREJ INDS. | 612.90 | 623.60 | 621.95 | 02-Jun-17 |
| GULF OIL LUBRIC. | 807.90 | 807.90 | 805.00 | 22-May-17 |
| H D F C | 1628.20 | 1634.00 | 1624.90 | 06-Jun-17 |
| HDFC BANK | 1652.50 | 1657.50 | 1648.00 | 29-May-17 |
| HIND. UNILEVER | 1100.25 | 1115.60 | 1113.75 | 07-Jun-17 |
| HONEYWELL AUTO | 12069.70 | 12558.00 | 12265.60 | 07-Jun-17 |
| ICICI PRU LIFE | 423.75 | 428.00 | 424.80 | 07-Jun-17 |
| INDUSIND BANK | 1528.80 | 1534.45 | 1523.00 | 07-Jun-17 |
| JK TYRE & INDUST | 185.00 | 186.55 | 184.75 | 03-May-17 |
| K P R MILL LTD | 875.00 | 882.00 | 860.00 | 07-Jun-17 |
| KOTAK MAH. BANK | 979.00 | 983.50 | 980.20 | 15-May-17 |
| LAK. MACH. WORKS | 5225.00 | 5300.00 | 5173.65 | 06-Jun-17 |
| LAURUS LABS | 621.50 | 629.00 | 618.00 | 07-Jun-17 |
| LIC HOUSING FIN. | 745.00 | 749.00 | 744.55 | 07-Jun-17 |
| MARUTI SUZUKI | 7211.50 | 7249.90 | 7249.30 | 01-Jun-17 |
| MINDA INDS. | 634.80 | 648.95 | 642.05 | 01-Jun-17 |
| MRF | 71220.00 | 71800.00 | 70480.00 | 27-Apr-17 |
| MUTHOOT FINANCE | 442.30 | 447.90 | 441.00 | 07-Jun-17 |
| NATCO PHARMA | 1021.95 | 1033.30 | 1015.00 | 18-Apr-17 |
| NAVNEET EDUCAT. | 186.30 | 189.80 | 188.90 | 07-Jun-17 |
| PNB HOUSING | 1542.00 | 1558.70 | 1509.80 | 07-Jun-17 |
| TECHNO ELEC. | 434.00 | 438.95 | 428.00 | 06-Jun-17 |
| UFLEX | 396.20 | 404.60 | 398.30 | 06-Jun-17 |
| VAKRANGEE | 415.00 | 417.65 | 414.00 | 06-Jun-17 |
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