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Manappuram Finance, Larsen & Toubro (L&T), Titan Company, Bharat Forge, Biocon, JSW Steel, Unichem Laboratories and Dabur India were among 34 stocks from the S&P BSE500 index hitting their respective new highs on BSE on Monday.
The stock of microfinance company Manappuram Finance rallied 5% to Rs 126, surpassing its previous high of Rs 125 touched on December 29, 2017 in intra-day trade.
According to rating agency ICRA, the Indian microfinance sector is seeing an improvement in asset quality as it recovers from the effects of demonetisation.
"There is a visible improvement in asset quality across all locations, except the Vidarbha region in Maharashtra State and some districts in Madhya Pradesh. Several micro-finance institutions have reported over 98% collection ratios for the loans originated in calendar year 2017. Consequently, the fresh slippage of loans into softer delinquency buckets has been arrested and non-performing asset levels seem to have peaked," says Vibhor Mittal, Head -- Structured Finance at ICRA Ratings.
According to ICRA, various factors have helped curtail the 0+ days past due rates from a peak of around 23.6% as of February 2017 to around 17.9% as of September 2017.
With some easing seen in the credit discipline associated with the joint liability group model, ICRA expects annualized credit costs in the micro-finance institutions asset class to stabilize at 2.5%-3.5%. However, given the marginal income profile and politically sensitive nature of the related borrower segment, asset quality will remain volatile and susceptible to one-off events, it added.
L&T hit a new high of Rs 1,336, up 1.6%, extending its past week’s 5% gain on BSE. The company today said the transportation infrastructure and water & effluent treatment businesses of L&T Construction have jointly bagged three EPC orders worth about Rs 23 billion from Andhra Pradesh Capital Region Development Authority (APCRDA).
The scope of work includes investigation, design & construction of roads, drains, culverts, water supply, sewerage, sewerage treatment plants, utility ducts for power & ICT, reuse waterline & avenue plantation for land pooling schemes in Zones – 6, 7 and 10 areas of Amaravati capital city. The package is part of the master plan to develop Amaravati into a Smart city with infrastructure on par with the best in the world, it added.
Titan Company up 1.8% to Rs 925, gaining 9.5% in past four trading sessions, after the company on January 2, after market hours said jewellery retail sales in October-December quarter (Q3FY18) has been healthy and in line with internal management expectations, despite Dussera being celebrated in the previous quarter.
Unichem Laboratories hit a fresh high of Rs 363, up 3%, ahead of board meeting today to consider share buyback proposal. In past four trading sessions, the stock soared 12% after the pharmaceutical company announced that the board of directors of the company at their meeting scheduled on January 8, 2018 shall consider a proposal to buy-back the fully paid-up equity shares of the company.
The stock of microfinance company Manappuram Finance rallied 5% to Rs 126, surpassing its previous high of Rs 125 touched on December 29, 2017 in intra-day trade.
According to rating agency ICRA, the Indian microfinance sector is seeing an improvement in asset quality as it recovers from the effects of demonetisation.
"There is a visible improvement in asset quality across all locations, except the Vidarbha region in Maharashtra State and some districts in Madhya Pradesh. Several micro-finance institutions have reported over 98% collection ratios for the loans originated in calendar year 2017. Consequently, the fresh slippage of loans into softer delinquency buckets has been arrested and non-performing asset levels seem to have peaked," says Vibhor Mittal, Head -- Structured Finance at ICRA Ratings.
According to ICRA, various factors have helped curtail the 0+ days past due rates from a peak of around 23.6% as of February 2017 to around 17.9% as of September 2017.
With some easing seen in the credit discipline associated with the joint liability group model, ICRA expects annualized credit costs in the micro-finance institutions asset class to stabilize at 2.5%-3.5%. However, given the marginal income profile and politically sensitive nature of the related borrower segment, asset quality will remain volatile and susceptible to one-off events, it added.
L&T hit a new high of Rs 1,336, up 1.6%, extending its past week’s 5% gain on BSE. The company today said the transportation infrastructure and water & effluent treatment businesses of L&T Construction have jointly bagged three EPC orders worth about Rs 23 billion from Andhra Pradesh Capital Region Development Authority (APCRDA).
The scope of work includes investigation, design & construction of roads, drains, culverts, water supply, sewerage, sewerage treatment plants, utility ducts for power & ICT, reuse waterline & avenue plantation for land pooling schemes in Zones – 6, 7 and 10 areas of Amaravati capital city. The package is part of the master plan to develop Amaravati into a Smart city with infrastructure on par with the best in the world, it added.
Titan Company up 1.8% to Rs 925, gaining 9.5% in past four trading sessions, after the company on January 2, after market hours said jewellery retail sales in October-December quarter (Q3FY18) has been healthy and in line with internal management expectations, despite Dussera being celebrated in the previous quarter.
Unichem Laboratories hit a fresh high of Rs 363, up 3%, ahead of board meeting today to consider share buyback proposal. In past four trading sessions, the stock soared 12% after the pharmaceutical company announced that the board of directors of the company at their meeting scheduled on January 8, 2018 shall consider a proposal to buy-back the fully paid-up equity shares of the company.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| AEGIS LOGISTICS | 294.45 | 299.70 | 297.30 | 05-Jan-18 |
| ALKEM LAB | 2213.20 | 2252.65 | 2250.00 | 29-Dec-17 |
| ALLCARGO LOGIST. | 224.35 | 227.65 | 221.60 | 01-Aug-16 |
| BASF INDIA | 2387.45 | 2430.00 | 2280.00 | 21-Dec-17 |
| BHARAT FORGE | 745.00 | 750.00 | 750.00 | 05-Jan-18 |
| BIOCON | 557.85 | 563.60 | 548.45 | 27-Dec-17 |
| BIRLA CORPN. | 1254.70 | 1290.00 | 1254.05 | 05-Jan-18 |
| BLUE STAR | 813.80 | 845.00 | 838.05 | 28-Dec-17 |
| BOMBAY DYEING | 295.60 | 304.20 | 303.80 | 20-Dec-17 |
| CESC | 1110.00 | 1113.00 | 1103.80 | 05-Jan-18 |
| DABUR INDIA | 360.00 | 362.00 | 361.00 | 03-Jan-18 |
| DEEPAK NITRITE | 282.00 | 285.80 | 245.00 | 05-Jan-18 |
| FINOLEX CABLES | 734.00 | 741.25 | 728.45 | 29-Dec-17 |
| GUJ ALKALIES | 792.20 | 819.30 | 818.10 | 07-Nov-17 |
| HEXAWARE TECH. | 363.70 | 365.10 | 358.80 | 05-Jan-18 |
| HIMADRI SPECIALT | 180.00 | 181.30 | 178.30 | 30-Oct-17 |
| HIMATSING. SEIDE | 406.00 | 410.15 | 410.00 | 01-Jan-18 |
| JSW STEEL | 285.45 | 290.10 | 289.90 | 05-Jan-18 |
| LAK. MACH. WORKS | 6500.50 | 6628.15 | 6614.95 | 05-Jan-18 |
| LARSEN & TOUBRO | 1330.35 | 1335.95 | 1328.80 | 05-Jan-18 |
| LINDE INDIA | 558.45 | 564.95 | 559.95 | 05-Jan-18 |
| M & M FIN. SERV. | 485.45 | 490.70 | 488.90 | 20-Dec-17 |
| MANAPPURAM FIN. | 125.10 | 126.40 | 125.30 | 29-Dec-17 |
| PC JEWELLER | 496.90 | 499.15 | 496.45 | 05-Jan-18 |
| PHILLIPS CARBON | 1462.05 | 1468.60 | 1326.30 | 04-Jan-18 |
| RADICO KHAITAN | 321.50 | 326.05 | 324.00 | 05-Jan-18 |
| RAYMOND | 1103.70 | 1128.95 | 1117.20 | 05-Jan-18 |
| SHRIRAM TRANS. | 1515.00 | 1519.65 | 1494.50 | 29-Dec-17 |
| SOUTH IND.BANK | 33.65 | 33.80 | 33.45 | 30-Nov-17 |
| SUN TV NETWORK | 1044.35 | 1049.50 | 1045.00 | 05-Jan-18 |
| SYMPHONY | 1983.50 | 2050.00 | 2040.00 | 05-Jan-18 |
| T N NEWSPRINT | 497.35 | 499.00 | 483.80 | 05-Jan-18 |
| TITAN COMPANY | 918.95 | 924.50 | 912.45 | 05-Jan-18 |
| UNICHEM LABS. | 357.70 | 362.85 | 359.70 | 04-Jan-18 |
