 "markets")
The S&P BSE Sensex, S&P BSE Smallcap and S&P BSE 500 index hit their respective new highs after a strong gain in financials and automobile stocks.
The S&P BSE Sensex hit a fresh record high of 31,522 in intra-day trade on Thursday, surpassed its previous high of 31,430 touched on June 6, 2017. However, the S&P BSE Midcap index hit high of 14,943 is still 1.2% or 180 points away from its record high of 15,123 touched on May 17, 2017.
Among the sectoral indices, banking index S&P BSE Bankex hit a record high. HDFC Bank and Kotak Mahindra Bank from the Sensex hit their respective lifetime highs today.
NBCC, JBF Industries, SpiceJet, Can Fin Homes, Entertainment Network, Visaka Industries and Gabriel India are among 21 stocks from the Smallcap index touched new highs.
Entertainment Network (ENIL) has surged 8.5% to Rs 986, extending its past one month’s 22% rally, after the company reported a better-than-expected results for March quarter (Q4FY17).
“Despite the continued demonetization headwinds in Q4, ENIL reported better-than-expected, 19% yoy, revenue growth (6.2% legacy, 12.4% new stations),” analyst at Anand Rathi Share and Stock Brokers said.
“We are optimistic about ENIL’s strategy of operating multiple frequencies in many cities. This may increase the target market (audience and advertising market-share) with the additional benefit of operating leverage by virtue of two stations in a city. Its nationwide operations should help attract more advertisers,” the brokerage firm said in company update dated May 24, 2017.
The S&P BSE Sensex hit a fresh record high of 31,522 in intra-day trade on Thursday, surpassed its previous high of 31,430 touched on June 6, 2017. However, the S&P BSE Midcap index hit high of 14,943 is still 1.2% or 180 points away from its record high of 15,123 touched on May 17, 2017.
Among the sectoral indices, banking index S&P BSE Bankex hit a record high. HDFC Bank and Kotak Mahindra Bank from the Sensex hit their respective lifetime highs today.
NBCC, JBF Industries, SpiceJet, Can Fin Homes, Entertainment Network, Visaka Industries and Gabriel India are among 21 stocks from the Smallcap index touched new highs.
Entertainment Network (ENIL) has surged 8.5% to Rs 986, extending its past one month’s 22% rally, after the company reported a better-than-expected results for March quarter (Q4FY17).
“Despite the continued demonetization headwinds in Q4, ENIL reported better-than-expected, 19% yoy, revenue growth (6.2% legacy, 12.4% new stations),” analyst at Anand Rathi Share and Stock Brokers said.
“We are optimistic about ENIL’s strategy of operating multiple frequencies in many cities. This may increase the target market (audience and advertising market-share) with the additional benefit of operating leverage by virtue of two stations in a city. Its nationwide operations should help attract more advertisers,” the brokerage firm said in company update dated May 24, 2017.
