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11 stocks from BSE 500 index hit record highs
Ashok Leyland, India Cements, Laurus Labs , Multi Commodity Exchange of India (MCX) and TVS Motor Company were among the 11 stocks from the BSE500 index to hit new all-time highs on Monday, after a strong rally in equities for the second straight day.
Federal Bank, Mahindra & Mahindra Financial Services (Mahindra Finance) and Shriram Finance from the financials and Hindalco Industries, National Aluminium Company (NALCO) and Vedanta from the metals also traded at new highs on the BSE in Monday’s intra-day trade.
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Shriram Finance, MCX, NALCO rally 5 per cent on Monday
Among individual stocks, Shriram Finance has rallied 5 per cent to ₹949.90 on the back of heavy volumes. In the past two trading days, the stock price of the non-banking finance company has surged 9 per cent.
Shriram Finance’s Board has approved a preferential issue of ₹39,618 crore to MUFG Bank through issuance of 471 million equity shares at ₹840.93 per share, resulting in a 20 per cent fully diluted stake for MUFG, subject to shareholder and regulatory approvals (RBI, CCI, etc.).
The capital infusion is expected to materially strengthen capitalization, potentially aid credit rating upgrade, and reduce funding costs versus peers. This is expected to support accelerated growth and NIM expansion, while strategic partnership benefits can improve technology, operating efficiency and franchise strength, ICICI Securities said in a note.
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Share price of MCX also surged 5 per cent to ₹10,809 in intra-day trade. Thus far in the calendar year 2025, the stock has outperformed the market by surging 73 per cent, as compared to 9 per cent rise in the BSE Sensex. It has bounced back 145 per cent from its 52-week low of ₹4,410.10 touched on March 11, 2025.
MCX on Wednesday, December 17, 2025, after market hours, informed the stock exchanges that the company fixed January 02, 2026, as the 'Record Date' for the purpose of determining the shareholders eligible for the sub-division of existing equity shares.
Under the approved proposal, each existing equity share of face value ₹10 will be split into five equity shares of face value ₹2 each, aimed at improving liquidity and enhancing retail investor participation. Shareholders of MCX will see an increase in the number of shares they hold, although the overall value of their investment will remain unchanged.
Share price of NALCO hit a new high of ₹292.75, as the stock rallied 5 per cent amid heavy volumes. The company has achieved its best-ever performance in Alumina Hydrate, Calcined Alumina and Aluminium Cast Metal production for the first half of FY2025–26 (H1FY26).
ALSO READ | Hindalco, Vedanta, Nalco hit record highs; what's driving metal stocks?
The strong performance during Q2FY26 was driven by enhanced operational efficiencies, cost optimization measures, and supportive market conditions, including a recovery in aluminium prices in the international market and steady domestic demand growth from the infrastructure and automotive sectors.
India Ratings and Research (Ind-Ra) expects the EBITDA margins to remain healthy at 25 per cent-30 per cent over FY26-FY27, supported by increased backward integration and improved cost efficiencies.
Market Views
The long-awaited US–India trade agreement is likely to come to fruition soon, thus catapulting the US exports back to normalcy and hopes for a Ukraine–Russia peace settlement are reshaping global risk sentiment favourably, according to Choice Institutional Equities.
At home, credit transmission is improving (weighted average lending rate on new loans -63 bps), corporate earnings are showing early contours of an upswing (+12.8 per cent Net Income for Nifty 500 in Q2FY26) and private capex is poised for acceleration (New capex announcements from the private sector came in at 80 per cent plus in H1FY26). While valuations still appear overstretched, ongoing time-correction creates scope for market leadership to emerge in select asset classes and sectors, the brokerage firm said.
Neelesh Surana, Chief Investment Officer, Mirae Asset Investment Managers (India) remains constructive, as earnings growth is likely to return to a double-digit trajectory post a muted FY26, driven by improving demand, tax cuts, and monetary easing.
With valuations now reasonable and market dispersion low, diversified portfolios are well-positioned to benefit, offering opportunities across sectors. Additionally, the growing presence of high-quality, sector-leading companies within the mid and small-cap space makes a strong case for meaningful allocation, said Neelesh Surana. =========================== Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.
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