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Bajaj Finance, ICICI Bank, Ipca Labs, Varun Beverages hit record high

Asian Paints, Merck, Adani Gas, Future Lifestyle, Gujarat Fluorochemicals and Muthoot Finance were among 14 stocks hitting their respective all-time highs on the BSE on Friday.

SI Reporter  |  Mumbai 

Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar
Among the individual stocks, Varun Beverages (VBL) surges 6 per cent to Rs 857, surpassing its previous high of Rs 849 touched on September 21, 2018, on the BSE in intra-day trade.

Shares of Ipca Laboratories, Varun Beverages, Merck, Adani Gas, Future Lifestyle, Gujarat Fluorochemicals and Muthoot Finance were among 14 stocks hitting their respective all-time highs on the BSE on Friday.

ICICI Bank, Asian Paints, Bajaj Finance, Pidilite Industries, UPL, Capri Global Capital and RBL Bank, too, touched new highs today.

Among the individual stocks, (VBL) surged 6 per cent to Rs 857, surpassing its previous high of Rs 849 touched on September 21, 2018, on the BSE in intra-day trade.

The company last week received a nod from the Competition Commission of India (CCI) for its recent acquisition of South and West territories from PepsiCo. In February, VBL had entered into a binding agreement with PepsiCo to acquire franchise rights in South and West regions from PepsiCo for a national bottling, sales and distribution footprint in 7 states and 5 Union Territories.

Analysts at JM Financial remain confident of VBL’s ability to drive a steady improvement in operating profit margin of newly acquired geographies (through backward integration, freight optimisation and leverage on SG&A costs) which coupled with internalization of Tropicana manufacturing should help drive steady improvement in operating margin and aid in maintaining a healthy earnings growth trajectory. The brokerage firm has a ‘buy’ rating on the stock with the target price of Rs 940 per share.

Ipca Laboratories hits hit a new high of Rs 1,042, up 9 per cent today, gaining 29 per cent in March. The pharmaceutical company had posted strong earnings with EBITDA (earnings before interest, taxation, depreciation and ammortisation) margin before forex gain was expanded by 385bps at 22.48 per cent in Q3FY19 from 18.63 per cent in Q3FY18. Net profit of the company increased 52 per cent year-on-year (YoY) to Rs 160 crore, while net total income grew 10 per cent at Rs 960 crore on YoY basis.

saw strong margin improvement in FY19, aided by the USD-INR tailwinds, higher contribution from domestic business and better product mix in the non-US generics. Resumption of broad-based revenue growth except for the US after flat FY14-18 (vs 13 per cent over FY18-21E) should result in higher operating leverage. Further, strong API (active pharmaceutical ingredients) capabilities and diversified model are advantages under the current environment, according to analysts at Elara Capital. The stock hit the brokerage firm target price of Rs 1,040 per share.


COMPANY LATEST ALL TIME HIGH PREV HIGH PREV DATE 28/03/2018 % chg
ADANI GAS 129.80 135.40 122.00 12-Mar-19 73.70 76.12
ASIAN PAINTS 1487.40 1507.95 1505.00 28-Mar-19 1120.70 32.72
BAJAJ FIN. 3001.20 3023.40 3009.00 27-Mar-19 1769.75 69.58
CAPRI GLOBAL 171.80 181.90 175.45 28-Mar-19 90.65 89.52
FUTURE LIFESTYLE 482.00 499.90 487.10 28-Mar-19 407.50 18.28
GUJ FLUOROCHEM 1095.45 1100.00 1092.45 15-Mar-19 780.60 40.33
ICICI BANK 397.45 402.70 401.25 28-Mar-19 278.40 42.76
IPCA LABS. 997.85 1042.00 970.00 28-Mar-19 654.90 52.37
MERCK 3645.00 3700.00 3618.00 28-Mar-19 1504.65 142.25
MUTHOOT FINANCE 619.20 624.70 613.55 28-Mar-19 407.55 51.93
PIDILITE INDS. 1243.00 1245.90 1244.25 28-Mar-19 918.50 35.33
RBL BANK 682.85 692.10 686.70 28-Mar-19 476.90 43.19
UPL 940.10 943.90 942.00 22-Mar-19 728.05 29.13
VARUN BEVERAGES 852.00 856.95 849.00 21-Sep-18 617.40 38.00
Price on the BSE in Rs
*As on November 5, 2018

First Published: Fri, March 29 2019. 14:58 IST
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