5 blue-chip stocks that are buzzing in market today amid choppy trade

By: | Updated: August 4, 2017 2:30 PM

Indian stock markets were trading marginally lower on Friday, dragged down by Reliance Industries, HDFC & Bharti Airtel on profit booking. Here are 5 blue chip stocks that are gaining on the benchmark indices today despite a rough trade.

Shares of Bajaj Finserv rose 2.92% to a 52-week high of Rs 5,270.4.

Indian stock markets were trading marginally lower on Friday, dragged down by Reliance Industries, HDFC & Bharti Airtel on profit booking by the market participants, while the shares of drugmakers declined after the US health regulator found quality lapses at a facility of Biocon. Soon after US FDA issued 10 observations at the drugmaker’s plant, Biocon stock plummeted 9.13% to the day’s low of Rs 341 – posted it biggest intraday percentage loss since 2 March 2017.

Almost all the constituent of Nifty Pharma fell which slipped as much as 2.5% to 9,336.9 points. Other pharma stocks that also tanked includes Sun Pharmaceuticals (down 4.43%), Cadila Healthcare (down 4.17%), Dr Reddy’s Laboratories (down 4.16%), Lupin (down 3.1%), Cipla (down 2.46%).

5 blue chip stocks which are gaining on the benchmark indices today:

Indian Oil Corporation:

Shares of Indian Oil Corporation today rose as much as 5% after the petrochemical company reported better-than-expected first-quarter profit on Thursday. The stock is also rising on the prospects of kerosene subsidy elimination. The stock of IOC surged 5.13% to the day’s high of Rs 406.75 on BSE.

Titan Company:

Shares of the luxury good maker surged 10.51% to the 52-week high of Rs 616.15 after the Tata Group firm yesterday reported a 96.84% increase in consolidated net profit to Rs 237.97 crore for the first quarter ended June 30 led by robust sales in its jewellery division. “Driven by the jewellery business, our profit saw an outstanding growth this quarter,” PTI reported citing Titan Managing Director Bhaskar Bhat.

Hero MotoCorp:

Shares of the country’s largest two-wheeler gained for the second consecutive day, rose 2.91% and hit a 52-week high of Rs 3,951 as the automaker recently reported a 17.13% increase in sales for July.

Bajaj Finserv

Shares of domestic financial services company rose 2.92% to a 52-week high of Rs 5,270.4 as earlier this week the company said it will pick up nearly 11% stake in mobile wallet company Mobikwik for about Rs 225 crore.

Vedanta

Shares of one of the world’s largest diversified natural resource major rose 2.51% to a 52-week high of Rs 287 after Anil Agarwal-led Vedanta received one of the highest rankings in the “India Disclosure Index 2017” by the business advisory firm FTI Consulting.

 

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