Indian stock markets are making and breaking record highs day after day with Sensex and Nifty hovering near lifetime peaks on Monday after surging over 1% each. Amid the high-rise in the Indian equities, we take a look at a small-cap stock below Rs 50 gained 20% today.
Indian stock markets are making and breaking newer record highs with Sensex and Nifty hovering near lifetime peaks on Monday after surging over 1% each in the late morning trade. At around 11:20 am on Monday, the key equity indices made fresh all-time highs respectively with Sensex surpassing 34,900 for the first time to make a record high of 34,963.69 whereas Nifty extended gains to hit a record high of 10,782.65 after breaching 10,700 in the early morning trades. The domestic stock markets started on a positive note on Monday with Sensex and Nifty opening at all-new record highs on the back of third-quarter earnings optimism and positive global cues led by a continuous upsurge in American stock markets. Amid the high-rise in the Indian equities, we take a look at a small-cap stock below Rs 50 gained 20% today.
Shares of Hathway Cable & Datacom surged as much as 19.9% to a day’s high of Rs 48.5 nearing its 52-week high of Rs 49.45. The stock of Hathway Cable & Datacom opened at Rs 42.1, up by 4% on BSE. A heavy trading volume had been observed in the shares of Hathway Cable & Datacom, as at 1:46 pm, more than 2.1 crore shares exchanged hands on both NSE and BSE with about 2.01 crore shares on NSE alone. Earlier on Friday last week, Smallcap World Fund sold about 44 lakh shares of Hathway Cable and Datacom at Rs 40.4 on the NSE. Hathway Cable & Datacom shares have an ISIN no: INE982F01036 and a security code: 533162. The stock of Hathway Cable & Datacom made a 52-week high of Rs 49.5 and a 52-week low of Rs 25.6 on 24 April and 11 August 2017 respectively.
Meanwhile, shares of heavyweight companies such as HDFC, ICICI Bank, Reliance Industries, HDFC Bank, and ITC contributed heavily leading the key indices to their respective peaks extending their record-breaking rally on Monday with Sensex hitting a lifetime peak of 34,963 and Nifty index was just 18 points away from hitting 10,800. The benchmark Sensex fired over as much as 371.3 points to hit a lifetime peak of 34,963.69. On the same lines, the 50-share indicator Nifty index also extended Friday’s upsurge and was just 18 points short to hit 10,800 after breaching 10,700 in the morning trades. The broader Nifty added as many as points to hit an all-time high of 10,782.65, rising by 101.4 points.
Shares of HDFC emerged as the largest gainers among the Sensex stocks after the board of India’s largest housing financier approved raising up to Rs 13,000 crore primarily to maintain its holding in its banking arm and enter segments like stressed assets and health insurance. The stock of HDFC rose as much as 6.89% to an all-time high of Rs 1,882.65 while of ICICI Bank shares surged 4.09% to Rs 330.6 nearing its 52-week high of Rs 332.3. Going ahead this week, Indian stock markets are likely to be steered by the third-quarter earnings of blue-chip companies like HDFC Bank, ITC, Kotak Mahindra Bank, Wipro, Yes Bank, Bharti Airtel.