IDFC Bank, Bharat Forge, SRF, Kesoram Industries, MRF, IFCI hit 52-week highs

RIL, HDFC Bank, TVS Motor, Raymond, Biocon, Reliance Capital, Manappuram Finance and Bajaj Finserv hit 52-week highs.

IDFC Bank, Bharat Forge, Kesoram Industries, MRF, IFCI, Reliance Capital, Ramco Cement, SRF, Bombay Burmah Trading Corporation and Ajanta Pharma are among the 30 stocks from the S&P BSE 500 index hitting their respective 52-week highs in intra-day trade in an otherwise subdued market on Friday.

Reliance Industries (RIL), HDFC Bank, TVS Motor Company, Raymond, Biocon, Manappuram Finance, Bajaj Finserv and Kirloskar Oil Engines too hit 52-week highs on the BSE today.

Kesoram Industries surged 8% to Rs 168 on back of three-fold jump in trading volumes. Since August 11, post April-June (Q1FY17) quarter results, the stock rallied 23% from Rs 137 after the company reported net profit of Rs 9.49 crore against a loss of Rs 165 crore in previous year quarter.

“The company’s tyre business is progressively turning around as would be evident from the fact that it has achieved a positive swing of Rs 58 crore. Total debut has reduced substantially as a consequence of which finance costs are down by close to 50%,” Kesoram Industries said while announcing Q1 results.

IFCI up 3% at Rs 30.85 extending its past four days 7% gain after signing agreement to sell entire stake in the asset reconstruction company.

"IFCI has signed a share purchase agreement with Axis Bank   for disinvesting its entire stake in Assets Care and Reconstruction Enterprise (ACRE) to Axis Bank," the state-run finance company said in its filing.

The divestment would be of 7.33 million shares, representing 13.67% of total outstanding shares, for cash consideration of Rs 22.72 crore, it added.

IDFC Bank surged 8% to Rs 74.55, its highest level since November 6, 2015 on the BSE. Since July 26, post Q1 results, the stock outperformed the market by 42% as compared to 3% rise in the benchmark index.

IDFC Bank’s asset quality improved marginally as gross non-performing assets (NPA) and net NPA ratios of the bank declined by 7 basis points each to 6.1% and 2.3%, respectively.

“Total stressed assets (Gross NPA + Net Restructured Standard Assets) ratio remained almost constant for the bank at 9.0% as of Q1FY17. Notably, the bank has already made more than adequate provisions against stressed assets before it commenced banking operations. So, credit cost of the bank is likely to remain low over next two years,” analysts at IndiaNivesh Securities said in result update.

COMPANY	LATEST	52 WK HIGH	PREV HIGH	PREV DATE
AJANTA PHARMA	2060.00	2068.00	2054.05	22-Sep-16
BAJAJ FINSERV	3374.00	3420.00	3300.00	22-Sep-16
BAYER CROP SCI.	4356.00	4388.85	4380.00	15-Sep-16
BHARAT FORGE	957.50	969.50	968.00	12-Oct-15
BIOCON	964.40	975.20	966.75	20-Sep-16
BLUE STAR	535.10	544.70	530.00	22-Sep-16
BOMBAY BURMAH	618.55	636.00	613.30	14-Sep-16
CENTURY PLY.	250.00	253.70	245.45	22-Sep-16
CENTURY TEXTILES	914.05	914.05	912.90	21-Sep-16
DISHMAN PHARMA.	219.95	227.90	222.00	22-Sep-16
EDELWEISS.FIN.	122.30	124.25	124.20	21-Sep-16
GAYATRI PROJECTS	686.15	790.00	769.20	24-Dec-15
HDFC BANK	1314.35	1315.60	1315.55	22-Sep-16
IDFC BANK	72.00	74.55	73.45	06-Nov-15
IFCI	30.50	30.85	30.60	22-Sep-16
JK LAKSHMI CEM.	483.10	485.00	476.85	08-Sep-16
JUBILANT LIFE	643.00	649.00	633.80	22-Sep-16
K P R MILL LTD	1225.20	1244.50	1241.90	20-Sep-16
KESORAM INDS.	163.50	167.65	160.65	22-Sep-16
KIRLOSKAR OIL	347.00	358.55	352.05	22-Sep-16
LAK. VILAS BANK	160.00	168.70	159.80	22-Sep-16
MANAPPURAM FIN.	98.45	99.20	98.85	19-Sep-16
MRF	46120.00	46355.05	44578.00	22-Sep-16
RAYMOND	537.00	544.40	544.00	21-Sep-16
RELIANCE CAPITAL	587.00	595.70	585.00	14-Sep-16
RELIANCE INDS.	1098.05	1100.50	1095.50	22-Sep-16
SHARDA CROP	408.95	417.20	409.00	20-Jun-16
SRF	1766.00	1778.80	1755.00	08-Sep-16
RAMCO CEMENT	615.40	622.80	617.60	22-Sep-16
TVS MOTOR CO.	353.00	354.50	350.00	22-Sep-16