Individually, ABB, Alkem Laboratories, Bajaj Holdings, Hindustan Aeronautics (HAL), Info Edge (India), L&T Infotech, Oracle Financial Services Computer and PI Industries from the midcap index hit their respective record highs on the BSE in the intra-day trade today.
Meanwhile, Adani Transmission (Rs 1,504.90) and Adani Power (Rs 93.85) from the Adani group of companies were locked in the 5 per cent upper circuit band with only buyers being seen on these counters. Of these, the stock of Adani Transmission (ATL) has zoomed 67 per cent in the past one month. It had hit a record high of Rs 1,647.70 on June 7, 2021.
ATL is the country's largest private transmission company with a cumulative transmission network of 18,800 ckt km, out of which 13,200 ckt km is operational and 5,600 ckt km is at various stages of construction. ATL also operates a distribution business serving over 3 million customers in Mumbai. With India’s energy requirement set to quadruple in coming years, ATL is fully geared to create a strong and reliable power transmission network and work actively towards serving retail customers and achieving ‘Power for All’ by 2022.
Separately, PI Industries surged 6 per cent to Rs 3,370, surpassing its previous high of Rs 3,357.05 touched on August 3, 2021. In the past three months, it has outperformed the market by ralling 30 per cent, as compared to a 10 per cent rise in the S&P BSE Sensex.
PI remains optimistic of its growth in the financial year 2021-22 (FY22) backed by the strong sentiments of the agriculture sector, positive forecasts of monsoons, and overall government measures to keep the farms and farmers healthy and motivated.
"Business outlook continues to be robust in FY22 supported by new launches and crop diversification, 5 new launches planned in FY22, strengthened rice, cotton and horticulture portfolio, Crop diversification of existing products, Rice, Horticulture, Cotton, Soybean and Wheat to drive growth, focus to expand application services business with an effort to provide wider solutions to farmers challenges," PI Industries said in FY21 annual report.
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