Nifty gains 1%, ends above 10,600 on Friday; auto, metal stocks gain

Benchmark indices rose on Friday after rupee recovered from its a 16-month low against the dollar.

The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points

Among sectoral indices, the Nifty Metal index gained over 2% led by a rise in Hindalco, SAIL, JSPL and Tata Steel. The Nifty Auto index also rose over 1% led by Exide Industries and Tata Motors.

In individual stocks, Tata Consultancy Services (TCS), the country’s biggest software services exporter, became the first Indian company. which saw its market capitalisation (market-cap) cross Rs 7-trillion mark.

Multi Commodity Exchange of India (MCX) rallied 8% on the BSE after reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.

Gateway Distriparks was locked in upper circuit of 20% at Rs 199 on the BSE after the company said its board approved the acquisition of entire shareholding held by Blackstone in Compulsorily Convertible Preference Shares (CCPS) and equity shares in Gateway Rail Freight for a total consideration of Rs 8.10 billion.

Shares of Avenue Supermarts that runs the D-Mart retail stores was trading higher by 5% at Rs 1,476, extending its Thursday’s 3.3% gain on the BSE, after the founder Radhakishan Damani completed the sale of 6.24 million shares, or 1%, of total equity of the company for achieving minimum public shareholding.

Shares of National Peroxide hit a record high of Rs 3,140, up 13% on the BSE in intra-day trade after the company reported a more than seven-fold jumped in its standalone net profit at Rs 373 million for the fourth quarter ended March 2018 (Q4FY18). The company engaged in manufacturing of hydrogen peroxide had a profit of Rs 51.7 million in the same quarter last fiscal. Operational revenue during the quarter under review grew 41% to Rs 974 million against Rs 691 million in the corresponding quarter of previous fiscal.

Shares of Pidilite Industries touched a 52-week high of Rs 1,136.35, rising more than 5% on the back of strong March quarter numbers. The company’s Q4 net profit rose 57.4% at Rs 2.47 billion against Rs 1.57 billion in a year ago period. Revenue of the company rose 5% at Rs 14.85 billion versus Rs 14.04 billion.

Shares of liquor companies were in focus with frontline stocks like United Breweries (UBL), United Spirits and Radico Khaitan rallying between 5% and 7% on the BSE after reporting a good set of numbers in the fourth quarter ended March 2018 (Q4FY18). UBL (up 7% to Rs 1,258) and Radico Khaitan (up 7% at Rs 456) have hit their respective new highs on the BSE in intra-day trade on Friday.

Tata Consultancy Services (TCS), the country’s biggest software services exporter, saw its market capitalisation (market-cap) cross Rs 7-trillion mark, after the stock price of the company hit a new high of Rs 3,668 on the BSE in early morning trade.

Here are some picks from the week gone by.