Reliance Industries, Adani Transmission, Petronet LNG hit record high
Ashok Leyland, Finolex Industries, Havells India, NBCC (India), NIIT Technologies and Petronet LNG are among 21 stocks from the S&P BSE500 index hit new highs today.
 "Reliance Industries, Adani Transmission, Petronet LNG hit record high")
premium
Reliance Industries (RIL), Kotak Mahindra Bank, Adani Transmission, Hindalco Industries and Indraprastha Gas are among 21 stocks from the S&P BSE500 index, which hit their respective new highs on the BSE on Wednesday in an otherwise weak market.
Ashok Leyland, Finolex Industries, Havells India, NBCC (India), NIIT Technologies, Petronet LNG, Tata Chemicals and Vakrangee too hit record highs today. At 10:38 AM; the S&P BSE Sensex was trading 0.31% or 102 points lower at 32,508.
RIL hit a new high of Rs 894, up 2% on the BSE, extending its 4% gain in past four trading sessions. The company had reported a 12.5% increase consolidated net profit at Rs 8,109 crore for the second-quarter ended September 2017 (Q2FY18) on back of higher margins from its core refining and petrochemical businesses.
“Future outlook for refining and petrochemical segments look upbeat as the company ramps up off gas cracker and commences operations of petcoke gasifiers. We are raising estimates for petrochemicals and Jio, while we moderately cut forecasts for refining segment,” analyst at IIFL Wealth Management said in a note and retains BUY rating on the stock with a two year price target of Rs 1,300.
Johnson Controls-Hitachi Air Conditioning India, Bajaj Electricals and Whirlpool of India from the consumer electronics sector hit all-time high on expectation of higher demand in festival season.
The Q2FY18 performance of the consumer electrical sector is likely to witness a sequential recovery owing to restocking by trade channels post Goods and Services Tax (GST) roll-out on 1 July 2017.
“Post GST, the consumer demand is reviving gradually. Last year despite of the adverse impact of Demonetization in December, Whirlpool of India was able to maintain robust growth. This year we expect better performance with more disposable income, good monsoon, rollout of GST and growing demand ahead of festive season,” the brokerage firm Kisan Ratilal Choksey Shares and Securities said in a note.
The outlook at the Petronet LNG’s 5 million MT terminal at Kochi currently remained under -utilized on account of lack of pipeline connectivity. GAIL has recently started the work of its Kochi-Koottanud-Mangalore-Bangalore pipeline, which is expected to get completed by the end of 2018.
Thus, we expect to see the company to be headed for a significant increase in the bottom-line. Better utilization at Dahej and a moderate increase in the re-gasification tariffs can further contribute to earnings. If the GAIL pipeline gets completed on schedule, the company could receive additional 1-1.5 MMTPA of gas going forward, the brokerage firm said in Diwali picks.
Ashok Leyland, Finolex Industries, Havells India, NBCC (India), NIIT Technologies, Petronet LNG, Tata Chemicals and Vakrangee too hit record highs today. At 10:38 AM; the S&P BSE Sensex was trading 0.31% or 102 points lower at 32,508.
RIL hit a new high of Rs 894, up 2% on the BSE, extending its 4% gain in past four trading sessions. The company had reported a 12.5% increase consolidated net profit at Rs 8,109 crore for the second-quarter ended September 2017 (Q2FY18) on back of higher margins from its core refining and petrochemical businesses.
“Future outlook for refining and petrochemical segments look upbeat as the company ramps up off gas cracker and commences operations of petcoke gasifiers. We are raising estimates for petrochemicals and Jio, while we moderately cut forecasts for refining segment,” analyst at IIFL Wealth Management said in a note and retains BUY rating on the stock with a two year price target of Rs 1,300.
Johnson Controls-Hitachi Air Conditioning India, Bajaj Electricals and Whirlpool of India from the consumer electronics sector hit all-time high on expectation of higher demand in festival season.
The Q2FY18 performance of the consumer electrical sector is likely to witness a sequential recovery owing to restocking by trade channels post Goods and Services Tax (GST) roll-out on 1 July 2017.
“Post GST, the consumer demand is reviving gradually. Last year despite of the adverse impact of Demonetization in December, Whirlpool of India was able to maintain robust growth. This year we expect better performance with more disposable income, good monsoon, rollout of GST and growing demand ahead of festive season,” the brokerage firm Kisan Ratilal Choksey Shares and Securities said in a note.
The outlook at the Petronet LNG’s 5 million MT terminal at Kochi currently remained under -utilized on account of lack of pipeline connectivity. GAIL has recently started the work of its Kochi-Koottanud-Mangalore-Bangalore pipeline, which is expected to get completed by the end of 2018.
Thus, we expect to see the company to be headed for a significant increase in the bottom-line. Better utilization at Dahej and a moderate increase in the re-gasification tariffs can further contribute to earnings. If the GAIL pipeline gets completed on schedule, the company could receive additional 1-1.5 MMTPA of gas going forward, the brokerage firm said in Diwali picks.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| ADANI TRANSMISSI | 227.85 | 232.00 | 229.75 | 17-Oct-17 |
| ASHOK LEYLAND | 128.10 | 128.90 | 128.60 | 17-Oct-17 |
| AVANTI FEEDS | 2612.00 | 2623.00 | 2607.10 | 17-Oct-17 |
| BAJAJ ELECTRICAL | 423.50 | 428.85 | 417.90 | 17-Oct-17 |
| BOMBAY BURMAH | 1712.95 | 1735.35 | 1672.50 | 17-Oct-17 |
| BRITANNIA INDS. | 4631.05 | 4656.00 | 4655.95 | 13-Oct-17 |
| FINOLEX INDS. | 703.75 | 709.00 | 699.90 | 19-Sep-17 |
| HAVELLS INDIA | 544.50 | 551.10 | 550.00 | 17-Oct-17 |
| HINDALCO INDS. | 275.05 | 278.15 | 278.00 | 17-Oct-17 |
| INDIABULLS HOUS. | 1336.00 | 1346.95 | 1338.90 | 17-Oct-17 |
| INDRAPRASTHA GAS | 1537.00 | 1545.00 | 1542.00 | 11-Oct-17 |
| JINDAL STAIN .HI | 215.00 | 220.25 | 209.95 | 17-Oct-17 |
| JOHNSON CON. HIT | 2670.35 | 2775.00 | 2450.25 | 17-Oct-17 |
| KOTAK MAH. BANK | 1094.25 | 1114.35 | 1098.65 | 16-Oct-17 |
| NBCC | 251.00 | 254.25 | 252.85 | 17-Oct-17 |
| NIIT TECH. | 641.45 | 646.00 | 642.40 | 17-Oct-17 |
| PETRONET LNG | 259.70 | 262.85 | 261.60 | 17-Oct-17 |
| RELIANCE INDS. | 892.00 | 893.75 | 891.70 | 16-Oct-17 |
| TATA CHEMICALS | 723.00 | 728.00 | 725.00 | 17-Oct-17 |
| VAKRANGEE | 547.00 | 557.90 | 546.70 | 17-Oct-17 |
| WHIRLPOOL INDIA | 1385.00 | 1424.00 | 1409.95 | 17-Oct-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%