ICICI Pru, Venkys, Page Industries, Triveni Turbine hit new highs
Transport Corporation, Skipper, Sona Koya and Elgi Equipment are among 24 stocks hit new high.
 "ICICI Pru, Venkys, Page Industries, Triveni Turbine hit new highs")
premium
ICICI Prudential Life Insurance Company (ICICI Pru), Venky's (India), Page Industries, Triveni Turbine, Godrej Industries and Godrej Consumer Products are among 24 stocks from the S&P BSE 500 & S&P BSE Smallcap index hitting their respective record highs on BSE in intra-day trade on Tuesday.
Transport Corporation of India, Skipper, Sona Koya Steering, Elgi Equipment, Deepak Fertilisers, Aditya Birla Nuvo and Grasim Industries too hit all-time highs today.
ICICI Pru has rallied 8% to Rs 508, its highest level since listing on September 29 2016 on BSE, on back of heavy volumes. A combined 2.56 million shares have already changed hands against an average sub two million shares were traded daily in past two weeks on BSE and NSE.
The stock of insurance company is one of the best performers thus far in the current calendar year 2017, surging 68%, against 17% rise in S&P BSE Sensex.
Since May 25, post March quarter results, ICICI Pru have gained 27% against 1.5% rise in the benchmark index.
During the fiscal ended March 2017, the Value of New Business (VNB) was increased by whopping 61.7% to Rs 666 crore as compared to Rs 412 crore a year ago.
VNB increased primarily on account of increase in protection business and improvement in persistence, ICICI Pru said in a statement.
The management sounded confident of maintaining strong growth trajectory going forward on the back of huge under-penetration in the protection business and rising share of financial savings.
Triveni Turbines has soared 18% to Rs 167 on BSE in intra-day trade on back of two-fold jump in trading volumes.
Transport Corporation of India, Skipper, Sona Koya Steering, Elgi Equipment, Deepak Fertilisers, Aditya Birla Nuvo and Grasim Industries too hit all-time highs today.
ICICI Pru has rallied 8% to Rs 508, its highest level since listing on September 29 2016 on BSE, on back of heavy volumes. A combined 2.56 million shares have already changed hands against an average sub two million shares were traded daily in past two weeks on BSE and NSE.
The stock of insurance company is one of the best performers thus far in the current calendar year 2017, surging 68%, against 17% rise in S&P BSE Sensex.
Since May 25, post March quarter results, ICICI Pru have gained 27% against 1.5% rise in the benchmark index.
During the fiscal ended March 2017, the Value of New Business (VNB) was increased by whopping 61.7% to Rs 666 crore as compared to Rs 412 crore a year ago.
VNB increased primarily on account of increase in protection business and improvement in persistence, ICICI Pru said in a statement.
The management sounded confident of maintaining strong growth trajectory going forward on the back of huge under-penetration in the protection business and rising share of financial savings.
Triveni Turbines has soared 18% to Rs 167 on BSE in intra-day trade on back of two-fold jump in trading volumes.
With a healthy order book, improved outlook of exports, strong after-market service business, likely scale-up of GE-TTL JV and a healthy enquiry pipeline, analysts at Nirmal Bang expect Triveni Turbines to post strong earnings CAGR of 26% over FY17-FY19E.
Rescheduling of orders in export business led to double digit revenue drop of 13% driven by a decline of 39% in export revenues in March quarter. Profitability suffered on account of fall in export revenues and higher other expenditure.
However, the management is confident about the growth prospects in the export market. They see export enquiry pipeline of 5GW across regions, 5% higher compared to last year and a revival in the domestic market with inflows growing 6-7% in FY2018. The GE Joint Venture (GETL) booked orders worth Rs 166 crore and had an order backlog of Rs 208 crore at the end of FY2017, Sharekhan, the brokerage firm said in a recent report.
Venkys India surged 10% to Rs 1,930, gaining 56% in past one month. Thus far in the calendar year 2017, the stock zoomed 351% from Rs 428.
The poultry firm had reported a more than three-fold jump in its net profit for the financial year 2017 (FY17) at Rs 125 crore, against Rs 38 crore in F16.
Rescheduling of orders in export business led to double digit revenue drop of 13% driven by a decline of 39% in export revenues in March quarter. Profitability suffered on account of fall in export revenues and higher other expenditure.
However, the management is confident about the growth prospects in the export market. They see export enquiry pipeline of 5GW across regions, 5% higher compared to last year and a revival in the domestic market with inflows growing 6-7% in FY2018. The GE Joint Venture (GETL) booked orders worth Rs 166 crore and had an order backlog of Rs 208 crore at the end of FY2017, Sharekhan, the brokerage firm said in a recent report.
Venkys India surged 10% to Rs 1,930, gaining 56% in past one month. Thus far in the calendar year 2017, the stock zoomed 351% from Rs 428.
The poultry firm had reported a more than three-fold jump in its net profit for the financial year 2017 (FY17) at Rs 125 crore, against Rs 38 crore in F16.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| ADITYA BIR. NUV. | 1901.20 | 1933.55 | 1929.00 | 03-Jul-17 |
| DEEPAK FERT. | 301.60 | 303.75 | 303.00 | 03-Jul-17 |
| ELGI EQUIPMENT | 240.45 | 248.90 | 244.00 | 20-Jun-17 |
| ENT.NETWORK | 951.00 | 987.30 | 986.40 | 22-Jun-17 |
| GODREJ CONSUMER | 982.80 | 993.20 | 991.80 | 03-Jul-17 |
| GODREJ INDS. | 650.75 | 662.00 | 655.45 | 21-Jun-17 |
| GRASIM INDS | 1271.65 | 1293.10 | 1287.45 | 03-Jul-17 |
| GRINDWELL NORTON | 432.00 | 437.00 | 434.00 | 03-Jul-17 |
| HIL LTD | 1034.00 | 1060.00 | 1055.80 | 03-Jul-17 |
| ICICI PRU LIFE | 496.40 | 507.90 | 484.75 | 30-Jun-17 |
| LAK. MACH. WORKS | 5460.00 | 5557.00 | 5494.70 | 03-Jul-17 |
| MAHINDRA HOLIDAY | 620.20 | 629.00 | 627.45 | 22-Jun-17 |
| MARICO | 322.50 | 330.10 | 329.80 | 03-May-17 |
| MEGHMANI ORGAN. | 51.50 | 53.35 | 53.05 | 07-Jan-08 |
| MEP INFRAST. | 120.80 | 122.00 | 121.00 | 29-Jun-17 |
| MINDA INDS. | 657.00 | 665.00 | 660.40 | 03-Jul-17 |
| PAGE INDUSTRIES | 17867.45 | 17965.40 | 17500.00 | 03-Jul-17 |
| SKIPPER | 214.90 | 219.90 | 219.90 | 06-Jan-16 |
| SONA KOYO STEER. | 99.25 | 101.30 | 99.00 | 03-Jul-17 |
| TEAM LEASE SERV. | 1417.75 | 1428.00 | 1381.00 | 03-Jul-17 |
| TRANSPORT CORP. | 342.35 | 344.50 | 334.50 | 05-Jun-17 |
| TRIVENI TURBINE | 163.00 | 167.00 | 151.70 | 20-Mar-15 |
| VENKY'S (INDIA) | 1924.10 | 1930.00 | 1770.00 | 03-Jul-17 |
| V-MART RETAIL | 1228.00 | 1266.15 | 1204.10 | 03-Jul-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%