Tata Motors, Force Motors, Hindalco, HCL Infosystems gain over 20% so far in October

FIIs turned net buyers by pumping $386 million thus far in October after two consecutive months of selling.

Tata Motors, Force Motors, SpiceJet, Hindalco Industries and HCL Infosystems are among 28 stocks from the BSE500 companies rallied more than 20% so far in the month of October.

The Bombay Stock Exchange (BSE) Sensex has gained 3.2% or 843 points to 27,000 in past ten trading days, on renewed buying interest from foreign institutional investors.

The foreign institutional investors (FIIs) turned net buyers by pumping $386 million (Rs 2,516 crore) thus far in October after two consecutive months of selling a total of about $3.5 billion (approx. Rs 23,000 crore).

Tata Motors has surged 6.5% to Rs 375, gaining 26% in past ten trading days on the BSE as the company’s Jaguar Land Rover (JLR) units' sales in the United States surged 61% in September to 6,850 units.

The company announced after market hours on Wednesday that its UK based luxury car unit, JLR’s retail sales rose 3% to 47,634 vehicles in September 2015 over September 2014.

On the outlook for the rest of the fiscal, the company said, "JLR remains confident about the future and in the second half of FY16 plans to continue to build on the successful launches of the Land Rover Discovery Sport, the Jaguar XE and the new Jaguar XF."

The company's plans to launch the new Range Rover Evoque and Jaguar XJ, followed by the recently unveiled Jaguar F-Pace in late Q4 FY16, it added.

HCL Infosystems, the largest gainer among BSE500 stocks, has seen market price appreciation of 72% from Rs 36.30 to Rs 62.35.

On October 7, 2015, Derive Investments, an investment company run by Radhakishan Damani, purchased 4.02 million equity shares or 1.8% stake of HCL Infosystems at an average price of Rs 49.38 per share through open market.

Force Motors was up 4% to Rs 3,437, also its new lifetime high on the BSE today. The stock of cars & utility vehicles maker has soared 46% thus far in the current month and 75% from its recent low of Rs 1,967 touched on September 7.

Hindalco Industries, Vedanta and Jindal Steel & Power from metal stocks have gained between 22%-27% on the back of surge in global commodity prices.