 "Bull run: Radico, Maruti, TVS Motor, Muthoot Finance hit life-time highs")
Shares of Maruti Suzuki India, Radico Khaitan, Muthoot Finance, TVS Motor Company, HBL Engineering and Nippon Life India Asset Management from the BSE 500 index hit new all-time highs, surging up to 6 per cent amid a strong rally in benchmark indices.
State Bank of India (SBI), Nestle India and Mahindra & Mahindra Financial Services from the Nifty 50 index hit their respective 52-week highs and were quoting close to record high levels.
Among individual stocks, Nippon Life India Asset Management Company (NAM India) soared 6 per cent to ₹963.50 in intra-day trade on Friday.
Among the top-6 players, only ICICI Prudential AMC and NAM India gained 6 basis points (bps) and 2 bps market share, respectively, in Q2FY26, led by rising inflows in select segments. NAM India was the only AMC to gain market share in the debt segment (27bps qoq) among the top-6 AMCs.
Analysts at InCred Equities in AMC sector report said they appreciate the overall healthy scheme-wise delivery by industry which, in turn, is continuing to attract not only active-equity inflows but also passive-equity inflows. The brokerage firm believes the following key catalysts will continue to aid the inflow momentum – improving capital market sentiment and rising purchasing power, especially of the younger demographic segment, and falling interest rates. Healthy equity fund inflows are aiding the yield movement, and analysts expect overall yields to remain range-bound in the medium term.
For NAM India, maintaining high yields and market share gains are key positives. However, the recent run-up in its share price makes the risk-reward ratio unfavourable, the brokerage firm said.
Shares of Muthoot Finance, the gold financier, has rallied 3 per cent to hit a new high of ₹3,365 on the BSE in intra-day trade. In the past six months, it has zoomed nearly 60 per cent on strong earnings.
The company’s standalone loan assets under management (AUM) has reached a record of ₹1.2 trillion in June 2025 quarter, driven by a robust 40 per cent year-on year growth in gold loan of ₹ 32,272 crore for the full year and a 10 per cent quarter-on-quarter increase of ₹10,238 crore. The standalone profit after tax for the quarter grew by 90 per cent to reach ₹2,046 crore.
The recent Reserve Bank of India’s (RBI) guidelines on gold loans will bring greater transparency and further streamline the lending process. While the recent industry cuts create a favorable credit environment, with these supportive tailwinds and the company’s continued focus on innovation and services, Muthoot Finance is well positioned to sustain strong growth through financial year 25-26 and beyond, the management said.
Shares of HBL Engineering gained 4.4 per cent to ₹963.50 on the BSE in intra-day trade. In the past six months, the stock price industrial products company has skyrocketed by 83 per cent.
CARE Ratings expects HBL Engineering to maintain this positive momentum and improve its operational and financial performance in coming years backed by healthy demand for defence and industrial batteries segments. In addition to the regular order book, new orders for installation of Kavach systems on locomotives and trackside upgradation provides revenue visibility for the medium-to-long term, the rating agency said.
HBL has been strategically reducing reliance on the telecom segment, with its revenue share declined in FY25, while focusing on higher-margin products such as Ni-Cad and lithium-ion batteries, alongside expanding exports to the Middle East, Asia Pacific (APAC), Africa, and Europe. Revenue visibility is further supported by multi-year orders from the railway sector, including Kavach systems, Train Collision Avoidance System (TCAS), Train Management System (TMS), and signalling works.