Aurobindo, Arvind, Essar Oil, RCom, TV18 Broadcast hit fresh 52-week high

Bajaj Finance, Berger Paints, Indraprastha Gas, Tata Elxsi, Jet Airways and Trent from BSE A-group hit 52-week high.

Arvind, Aurobindo Pharma, Bajaj Finance, Berger Paints, Essar Oil, Indraprastha Gas, Jet Airways, Reliance Communications (RCom), Tata Elxsi, Trent and TV18 Broadcast from the BSE A-group have hit their respective 52-week highs in trade today.

Essar Oil has moved higher by 6% to Rs 255 after the media reports suggest that the company’s delisting today got through as the markets regulator Securities and Exchange Board of India (Sebi) gave its go-ahead to the stock exchange BSE to accept nearly 20 million shares tendered by the state-run Life Insurance Corporation of India (LIC) for the promoters' buyout offer. CLICK HERE TO READ FULL REPORT.

TV18 Broadcast hit high of Rs 47.35, extending its month-long rally after the company announced renewal of branding partnership between its news channel IBN and Turner Broadcasting System Inc’s CNN. Thus far in December, the stock surged 33% from Rs 35.65 as compared to 1.1% decline in the S&P BSE Sensex.

Aurobindo Pharma has moved higher by 3% to Rs 867, also its record high on the BSE. The drug maker had on Tuesday had received approval from the US health regulator for generic Olopatadine Hydrochloride ophthalmic solution used for treatment of seasonal allergic conjunctivitis and is ready to launch the product in the American market.

Meanwhile, shares of Pilani Investment and Industries Corporation has soared 19% to Rs 1,724, also its 52-week high since listing on the National Stock Exchange.

The exchange has shifted the stock to “EQ” category from “BE” earlier and changed the circuit filter to 20% from 5% with effect from today. In EQ series intraday trading is possible in addition to delivery.

Under the BE or trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory. This means trades can only be settled by accepting or giving the delivery of shares.
The decision is a part of a surveillance review and to ensure market safety and safeguard the interest of investors.

At 02:51 p.m. the stock was up 14% at Rs 1,645 with 23,527 shares changing hands on the counter on the NSE.

Plastic products maker – Nilkamal, Machino Plastics, Ashoka Buildcon, Ruby Mills, Saksoft, TV Today Network, Themis Medicare and Kothari Products are from the 128 non-A group stocks hit their respective 52-week highs on the BSE.