1. 10 stocks that pulled Sensex past 30000

10 stocks that pulled Sensex past 30000

S&P BSE Sensex, the benchmark index, opened at an all-time high of 30,030.20 and soon rallied to a lifetime high of 30,108.14 in intraday trade, while Nifty50, the broader benchmark, too opened at an all-time high of 9336.20 and rose to a lifetime high of 9354.05 in intraday trade.

By: | Published: April 26, 2017 10:59 AM
S&P BSE Sensex, the benchmark index, opened at an all-time high of 30,030.20 and soon rallied to a lifetime high of 30,108.14 in intraday trade, while Nifty50, the broader benchmark, too opened at an all-time high of 9336.20 and rose to a lifetime high of 9354.05 in intraday trade.

S&P BSE Sensex, the benchmark index, opened at an all-time high of 30,030.20 and soon rallied to a lifetime high of 30,108.14 in intraday trade, while Nifty50, the broader benchmark, too opened at an all-time high of 9336.20 and rose to a lifetime high of 9354.05 in intraday trade.

Here is a look at 10 stocks that helped the Sensex zoom past 30,000:

HDFC: Housing Development Finance Corp Ltd has been gaining traction on optimism that the government’s interest subsidy scheme will boost affordable housing, as reported by PTI. HDFC Ltd has already disbursed about Rs 400 crore under the plan and sees a huge growth potential going ahead. “The Credit Linked Subsidy Scheme (CLSS) to boost demand for affordable housing can be a game changer and help revive the real estate sector, which is facing a multi-year slowdown and other related industries,” HDFC MD Renu Sud Karnad had said earlier last week.

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HDFC Bank: Backed by good fundamentals, share prices of HDFC Bank, largest private sector lender, have risen almost 40% during last year. Last week, HDFC Bank had reported that the NPAs (non-performing assets) remained stable in the fiscal fourth quarter, even as talk about the stress in the banking sector on account of bad debts and stressed assets gained momentum. The bank has fared well on the aspect of bad loans, with its Gross Non Performing Assets (NPA) remaining flat on-quarter at 1.05% during Jan-Mar. Absolute gross NPAs were at Rs 5,885.7 crore in the latest reporting period, rising from Rs 5,232 crore in the preceding quarter. Bank’s Net NPA rose marginally to 0.33% in the quarter from 0.32% from the preceding three-month period.

“While in absolute terms, provisions have gone up by INR 546 Cr, almost half of the incremental provisions can be attributed to the general growth in loan book and standard asset provisions there on,” Siddharth Purohit, Senior Equity Research Analyst – Banking, Angel Broking, had said in a note after HDFC Bank Q4 results were announced.

M&M: Mahindra and Mahindra stock prices rose 3.66% to reach Rs 1,310.90 in intraday trade before settling at Rs 1306.95 at the close of trade. Credit Suisse upgraded its rating on the stock to ‘Outperform’ citing the potential for M&M’s tractor business. Credit Suisse said it believes that with a number of state governments planning to introduce farm loan waivers, tractor demand could get a further boost.

The other major contributors in Sensex’s rally past 30,000 were ICICI Bank, which opened at Rs 274.25 and rose to an intraday high of Rs 275.50; ITC, opened at Rs 281.95, intraday high of Rs 287.20; TATA Motors, opened at Rs 448.70, intraday high of Rs 453.50; Asian Paints, opened at Rs 1,100.25, intraday high of Rs 1,116.60; Maruti, opened at Rs 6,344.00, intraday high of Rs 6,406.75; TATA Steel opened at Rs 456.05, intraday high of Rs 462.90.

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