 "BSE midcap index hits new high")
The BSE midcap index hit a fresh record high led by a strong rally in stocks like Divis Laboratories, Reliance Capital, Piramal Enterprises, Kansai Nerolac and Shriram City Union Finance.
The S&P BSE Midcap index hit of 12,856 on Tuesday, surpasses its previous high of 12,849 touched on August 8 during intra-day trade.
At 02:52 pm, the midcap index was up 0.50% at 12,817, as compared to 0.29% decline in the S&P BSE Sensex. In past one-month the S&P BSE Midcap index outperformed the market by gaining 6% against 1% rise in the benchmark index.
Divis Laboratories, Piramal Enterprises, UPL and YES Bank are from the midcap index that touched their respective record highs on the BSE today.
Divis Laboratories surged nearly 8% to Rs 1,280 in intra-day trade after the company reported 23% year on year jump in standalone net profit at Rs 302 crore for the quarter ended June 30, 2016 (Q1FY17), on the back of strong revenue growth. The pharmaceuticals company had registered a profit of Rs 245 crore in the same quarter year ago.
Total income from operations grew 25% at Rs 1,008 crore in Q1FY17 against Rs 809 crore in the corresponding quarter of last year.
Piramal Enterprises soared 6% to Rs 1,775, extending its Friday’s 4% gain, after the company announced that its board has approved to raise Rs 2,050 crore through private placement of non-convertible debentures (NCDs).
The S&P BSE Midcap index hit of 12,856 on Tuesday, surpasses its previous high of 12,849 touched on August 8 during intra-day trade.
At 02:52 pm, the midcap index was up 0.50% at 12,817, as compared to 0.29% decline in the S&P BSE Sensex. In past one-month the S&P BSE Midcap index outperformed the market by gaining 6% against 1% rise in the benchmark index.
Divis Laboratories, Piramal Enterprises, UPL and YES Bank are from the midcap index that touched their respective record highs on the BSE today.
Divis Laboratories surged nearly 8% to Rs 1,280 in intra-day trade after the company reported 23% year on year jump in standalone net profit at Rs 302 crore for the quarter ended June 30, 2016 (Q1FY17), on the back of strong revenue growth. The pharmaceuticals company had registered a profit of Rs 245 crore in the same quarter year ago.
Total income from operations grew 25% at Rs 1,008 crore in Q1FY17 against Rs 809 crore in the corresponding quarter of last year.
Piramal Enterprises soared 6% to Rs 1,775, extending its Friday’s 4% gain, after the company announced that its board has approved to raise Rs 2,050 crore through private placement of non-convertible debentures (NCDs).
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