We take a look at the five blue-chip stocks of Nifty 50 which made new all-time highs today despite a dull trade. Interestingly, three other companies on the Nifty index hit their respective 52-week highs.
Sensex and Nifty traded weak on Thursday after opening marginally higher followed by overnight gains on Wall Street. The US benchmark index Dow Jones Industrial Average rose 0.25% to 21,808.6 points after the American lawmakers agreed to extend the government debt limit which eliminated fears of a government shutdown. The broader Nifty 50 ended 0.14% higher at 9,929.9 points while the benchmark Sensex closed flat at 31,662.74 points. However, this muted trade didn’t stop some of the blue-chip companies from making new records, and some others from nearing the old ones. We take a look at the five blue-chip stocks of Nifty 50 which made new all-time highs today despite a dull trade. Interestingly, three other companies on the Nifty index hit their respective 52-week highs.
Reliance Industries shares were the first one on Nifty 50 to hit a lifetime high today after the oil-to-telecom conglomerate’s Chairman and MD Mukesh Ambani said that Reliance Jio had crossed 130 million customers mark in one year of its operations. The stock of RIL rose as much as 1.19% to the record high of Rs 832.5. RIL shares also went ex-bonus today as the Mukesh Ambani had announced a 1:1 bonus issue in the 40th AGM of Reliance Industries this July.
Shares of Royal Enfield maker Eicher Motor advanced over 3% to hit an all-time high on Thursday as the company is preparing to make a binding offer to acquire the iconic Italian superbikes Ducati for $1.8 billion-$2 billion, reported The Economic Times. The stock of Eicher Motors gained 3.88% to Rs 33,328.4 on NSE today.
Indiabulls Housing Finance
Shares of Indiabulls Housing Finance also jumped to a lifetime high after leading research and brokerage firm CLSA raised the target price of the company to Rs 1,500 from Rs 1,380. The stock of private sector home financier’s stock rose as much as 4.4% to Rs 1,320 on NSE today.
Other stocks which hit the respective marks include Vedanta — diversified natural resources firm shares zoomed 3.12% to a 52-week high of Rs 328.2; stock of world’s largest aluminum rolling company Hindalco Industries jumped 2.22% to a 52-week high of Rs 251.25. Shares of one of the popular private sector lender IndusInd Bank gained 4.02% to a lifetime high of Rs 1,715.15. Shares of the India’s largest automaker Maruti Suzuki India advanced 1.3% to a lifetime high of Rs 7,949 while the shares of one of the largest steel producer in India Tata Steel gained 0.61% to a 52-week high of Rs 657.