Sensex gains 209 pts, Nifty ends above 10,500 on last day of 2017
Equity benchmarks ended the last day of the year on a strong note as the Sensex was up 208.80 points at 34,056.83 and the Nifty rallied 52.80 points to 10,530.70. For the year, both the indices added nearly 28%.
About 1,566 shares advanced against 1,204 declining shares on the BSE.
Shares of Infibeam Incorporation turned volatile trading 12% lower at Rs 144.80 on Friday at 02:12 PM; on back of heavy volumes. The stock of internet software & services recovered 47% from its early morning low of Rs 98.80 on the BSE. It was closed at Rs 165 on Thursday.
Shares of Jaiprakash Associates (JP) Group stocks Jaiprakash Associates, Jaiprakash Power Ventures and Jaypee Infratech rallied by upto 20% in intra-day trade on the BSE, extending their gains for the past three days on back of positive media reports.
Jaiprakash Power Ventures has surged 20% to Rs 9.52, also its 52-week high on the BSE in intra-day trade today on back of heavy volumes. The stock rallied 37% in past four trading sessions after the media report suggested that lenders scout for new owner for JP Group arm Prayagraj Power.
Amulya Leasing & Finance is locked in upper circuit of 5% at Rs 624, extending its Thursday’s 5% gain on the BSE after the promoter Sameer Gupta sold his entire 35.19% stake in the company through an open market transaction. The stock is trading at its 52-week high levels.
Astron Paper & Board Mill made a stellar debut and was locked in upper circuit at Rs 120.75, up 141% against its issue price of Rs 50 per share on the National Stock Exchange (NSE). On BSE, it froze at Rs 120 with no sellers seeing on the counter. The stock of paper manufacturer listed at Rs 115 on the NSE and at Rs 114 on the BSE. A combined 6.11 million shares changed hands and there were pending buy orders for 315,927 shares on both the exchanges.
Shares of Anil Ambani-owned Reliance Communications (RCom) zoomed 35% to Rs 41.77, also its 52-week high on the BSE in early morning trade after Mukesh Ambani-led Reliance Jio said it will acquire RCom’s mobile business assets including spectrum, mobile towers and optical fibre network of the company. On the National Stock Exchange (NSE), the stock rallied 30% to Rs 40.15 in intra-day trade. China Development Bank, a creditor of Reliance Communications Ltd, said it is in talks with the Indian wireless carrier, following a plan by the Anil Ambani-backed firm to reduce its debts.
Aarti Industries announced that they have signed a Rs 10,000 crore multi-year exclusive supply contract with a leading global chemical conglomerate. This contract entails supply of a high-value specialty chemical intermediate over a period of 20 years.
Motilal Oswal has initiated coverage with a Buy rating on Motherson Sumi Systems and set a target price at Rs 458 per share, citing strong organic growth opportunities for the company in the international & domestic markets.
