NEW DELHI: Solid buying on banking and metal counters lifted the benchmark indices to fresh lifetime peaks on Thursday.
The S&P BSE Sensex closed above 38,000 level for the first time at 38,024, up 0.36 per cent, while the broader Nifty50 gained 21 points, or 0.18 per cent, to settle at 11,471.
Here’s a look at the top newsmakers on D-Street.
Morgan Stanley raises TP for ICICI Bank
Global brokerage firm Morgan Stanley feels the stock could rally as much as 100 per cent in two years as the narrative shifts to growth from bad loans. But there will be stock volatility for 2-3 quarters, the brokerage cautioned. The stock ended 4.64 per cent higher at Rs 332.95 apiece on BSE.READ MORE
Icra board approves share buyback
The board has approved the buyback of the company’s fully paid-up equity shares for a total amount not exceeding Rs 85.40 crore at a price not exceeding Rs 3,800 per equity share. This apart, the company posted 12.2 per cent rise in its consolidated net profit at Rs 25.2 crore. Shares of the company closed at Rs 2.41 per cent lower at Rs 3,650 apiece on BSE.
Eicher Motors Q1 net jumps 25%
The two-wheeler manufacturer on Thursday reported 25 per cent YoY jump in consolidated profit at Rs 576.18 crore against Rs 459.62 crore in the corresponding quarter last fiscal. Total revenue from operations stood at Rs 2,547.75 crore, up 12.98 per cent against Rs 2,254.94 crore in the year-ago period. The results were announced after market hours. The stock of the company settled flat at Rs 27,484 apiece on BSE.
Block deals fire up Unitech, RCom
According to Bloomberg, 11 lakh shares of Unitech changed hands in a block deal. The stock ended 5 per cent higher at Rs 4.26 apiece on BSE. This apart, 62.8 lakh shares of Reliance Communications were traded in three block deals. At close, the stock stood at Rs 20.07 per share, up 9.31 per cent.
Grameen IPO subscribed 34%
The initial public offering (IPO) of microfinance institution CreditAccess Grameen was subscribed 34 per cent on Day 2 of the bidding process. Till 04:45 pm, total bids received stood at 64,94,495 equity shares against the total issue size of 1,88,29,684 shares.
Spurt in open interest
Cummins India witnessed the biggest jump in open interest contracts at 69.52 per cent, followed by Page Industries (27.09 per cent), Engineers India (23.48 per cent) and PC Jeweller (22.85 per cent).
On the options front, maximum Put open interest (OI) is at 11,000 followed by 11,300 strike while maximum Call OI is at 11,500 followed by 11,600 strike. Put writing was seen at 11,400 followed by 11,500 strike whereas marginal Call writing was seen at 11,700 followed by 11,600 strike.