Shares of Tata, Ambani and Adani group companies jumped up to 10% in the late morning deals on Wednesday following an uptick in the benchmark Sensex which rose more than 100 points after a mild opening ahead of RBI's monetary policy.
Shares of Tata, Ambani and Adani group companies jumped up to 10% in the late morning deals on Wednesday following an uptick in the benchmark Sensex which rose more than 100 points after a mild opening ahead of RBI’s monetary policy. As much as 10 shares of companies under Tata, Anil Ambani and Gautam Adani Group saw a rise in the share prices up to 10% on Wednesday. Shares of Anil Dhirubhai Ambani Group’s defence firm Reliance Naval and Engineering emerged as the lead gainers among the stack of 10 stocks of Tata, Ambani and Adani group companies on Wednesday.
Shares of Reliance Naval and Engineering Ltd added as much as 10.61% to a day’s high of Rs 31.8 after opening marginally higher at Rs 29 on BSE. Shares of Tata Motors emerged as the top gainers among all the components of BSE Sensex on Wednesday after Tata Motors-owned Jaguar Land Rover posted a jump of 83% in the vehicle sales in the financial year 2017-2018 and is aiming to bring about 10 new products in India in FY19. The stock of Tata Motors advanced as high as 5.72% to a day’s high of Rs 363 on BSE.
Jaguar Land Rover India marked a net total sales of 4,609 units in the FY18 as against 2,514 units in the financial year 2016-2017. “Our sales for 2017-18 were driven almost equally by the Jaguar and Land Rover brands,” PTI reported citing Jaguar Land Rover India’s President & Managing Director Rohit Suri. 28 of 40 analysts covering the stock have a “buy” or higher rating, 10 “hold” while 2 have rated it as “sell” or lower with a median target price of Rs 467.5.
Other Tata, Ambani and Adani group shares which also surged include Adani Power (up 5.4%), Reliance Power (up 5.65%), Reliance Communications (up 3.31%), Reliance Capital (up 2.73%), The Indian Hotels Company (up 2.46%), Reliance Infrastructure (up 2.14%), Tata Steel (up 1.79%) and Adani Ports (up 2.24%).
In the meantime, shares of Deepak Fertilisers and Indiabulls Real Estate were also the top gainers among the deck of ‘A’ group shares of BSE. The stock of Deepak Fertilisers gained 8.73% to a day’s high of Rs 329.35 whereas the stock of Indiabulls Real Estate soared 6.67% to a day’s high of Rs 187.85 on Wednesday on BSE.