HDFC, HDFC Bank, ITC, HUL, Maruti Suzuki hit record highs
BPCL and IndusInd Bank are seven stocks from Nifty 50 index hit their respective record highs.
 "HDFC, HDFC Bank, ITC, HUL, Maruti Suzuki hit record highs")
premium
Seven companies – Housing Development Finance Corporation (HDFC), HDFC Bank, ITC, Hindustan Unilever (HUL), Maruti Suzuki India, Bharat Petroleum Corporation Limited (BPCL) and IndusInd Bank – from the Nifty 50 index hit their respective record highs.
At 02:27 pm; Nifty 50 index was up 0.2% at 9,614, touched a new high of 9,638 on the National Stock Exchange (NSE) in intra-day trade.
ITC hit a new high of Rs 320, up 3.5% on NSE in intra-day trade, extending its Friday’s 3% gain, after reporting January-March quarter (Q4FY17) earnings.
ITC posted a 12.3% yea-on-year (YoY) rise in its net profit at Rs 2,669 crore in Q4FY17, while its income from operations grew 6.15% at Rs 15,009 crore. Cigarette EBIT (earnings before interest and tax) margin expanded 107bps YoY to 36.4% for the quarter led by price hikes.
“Going ahead, assuming that taxes will not increase post Goods & Services Tax (GST) implementation, ITC's cigarette volumes will witness healthy recovery in volumes. Further the price hikes done by ITC during December 2016 and March 2017, will aid cigarette margins during FY18,” analyst at Antique Stock Broking said in a result review.
Given the clarity in tax regime post GST and recovery in earnings during the next two years, we believe that ITC will witness a re-rating and trade in line with the consumer sector average valuations, added report.
HUL too, up 3% to Rs 1,074 on NSE. In past seven trading sessions, the stock gained 8.5% after the reported a better-than-expected Q4FY17 results and approval rates for a number of categories by Goods and Services Tax (GST) Council.
“After registering 4% decline in underlying volume growth (UVG) in Q3FY17, the 4% growth in Q4FY17 was inspiring, particularly when peers were struggling. We are encouraged by HUL’s broad-based growth, as Home Care, PC and Refreshments verticals registered healthy 7%, 8% and 11% growth respectively,” analyst at HDFC Securities said in result update.
Stable raw material prices with healthy premium segment growth can expand margins in the coming quarters. We expect the stock to give healthy returns in the near term, added report.
At 02:27 pm; Nifty 50 index was up 0.2% at 9,614, touched a new high of 9,638 on the National Stock Exchange (NSE) in intra-day trade.
ITC hit a new high of Rs 320, up 3.5% on NSE in intra-day trade, extending its Friday’s 3% gain, after reporting January-March quarter (Q4FY17) earnings.
ITC posted a 12.3% yea-on-year (YoY) rise in its net profit at Rs 2,669 crore in Q4FY17, while its income from operations grew 6.15% at Rs 15,009 crore. Cigarette EBIT (earnings before interest and tax) margin expanded 107bps YoY to 36.4% for the quarter led by price hikes.
“Going ahead, assuming that taxes will not increase post Goods & Services Tax (GST) implementation, ITC's cigarette volumes will witness healthy recovery in volumes. Further the price hikes done by ITC during December 2016 and March 2017, will aid cigarette margins during FY18,” analyst at Antique Stock Broking said in a result review.
Given the clarity in tax regime post GST and recovery in earnings during the next two years, we believe that ITC will witness a re-rating and trade in line with the consumer sector average valuations, added report.
HUL too, up 3% to Rs 1,074 on NSE. In past seven trading sessions, the stock gained 8.5% after the reported a better-than-expected Q4FY17 results and approval rates for a number of categories by Goods and Services Tax (GST) Council.
“After registering 4% decline in underlying volume growth (UVG) in Q3FY17, the 4% growth in Q4FY17 was inspiring, particularly when peers were struggling. We are encouraged by HUL’s broad-based growth, as Home Care, PC and Refreshments verticals registered healthy 7%, 8% and 11% growth respectively,” analyst at HDFC Securities said in result update.
Stable raw material prices with healthy premium segment growth can expand margins in the coming quarters. We expect the stock to give healthy returns in the near term, added report.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| B P C L | 758.10 | 769.25 | 753.95 | 26-May-17 |
| H D F C | 1599.80 | 1600.00 | 1591.85 | 03-May-17 |
| HDFC BANK | 1636.65 | 1648.00 | 1632.00 | 26-May-17 |
| HIND. UNILEVER | 1067.30 | 1074.00 | 1050.00 | 25-May-17 |
| INDUSIND BANK | 1494.65 | 1504.70 | 1484.80 | 26-May-17 |
| ITC | 318.50 | 319.85 | 313.80 | 26-May-17 |
| MARUTI SUZUKI | 7135.80 | 7197.80 | 7085.05 | 26-May-17 |
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%