The Sensex, which slipped nearly a percent in May, failed to close above its crucial support placed at 35,000. It reversed its gains on May 15 after hitting an intermediate top placed near 35,993, but plenty of stocks managed to hit fresh all-time highs on the BSE.
As many as 129 stocks on the BSE hit a fresh all-time low in May. These include: Hindustan Aeronautics, ICICI Securities, S Chand, Narayana Hrudayalaya, Inox Wind, Reliance Nippon Life Asset Management, Avadh Sugar, Tube Investments, IDFC Bank, Housing Development & Infrastructure (HDIL), and Punj Lloyd.
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| Capitalstars Investment advisors |
As many as 147 stocks hit fresh all-time highs on the BSE. These include: Abbott India, Ashok Leyland, Asian Paints, Bajaj Finance, Berger Paints, Bombay Dyeing, Nestle India, Britannia Industries, V-Mart, HDFC Bank, IndusInd Bank, Hindustan Unilever (HUL), Colgate Palmolive, Raymond, Pidilite Industries, Mphasis, MindTree, Escorts, Mahindra & Mahindra (M&M), and Dabur India.
The proportion of stocks hitting fresh all-time highs were larger than stocks hitting all-time lows. Data for May suggests that nearly 130 stocks hit fresh all-time lows, which includes mostly small and midcaps names.
Major Headlines of the day:
• Dalmia Bharat has reported a 2.6 percent decline in profit at Rs 209 crore and 8 percent increase in revenue with margin contraction of 360 basis points YoY.
• Bhushan Steel will remain in focus as Tata Steel took over the company by paying Rs 35,200 crore to financial creditors.
• South Indian Bank: RBI has imposed Rs 5 crore penalty on the bank for non-compliance in norms related to IRAC, KYC Norms, treasury function.
• Reliance Communications said it is filing appeal against as also application for stay of against the Insolvency & Bankruptcy Code order dated May 15 passed by NCLT, Mumbai bench in National Company Law Appellate Tribunal.
• Tata Chemicals has posted a 23 percent increase in March quarter profit at Rs 356 crore and 1.7 percent rise in revenue with margin expansion of 130 basis points YoY.
• UltraTech Cement: Board approved scheme of arrangement wherein the company acquires cement business of Century Textiles and Industries
Trend in FII flows:- The FIIs were Net Value of Rs -166.15 in the cash segment FRIDAY while the DIIs were Net Value of Rs 149.58 as per the provisional figures.
TODAY ON EARNING FRONT:- BOMBAY BURMAH, MOTILAL OSWAL, COLGATE, MAHANAGAR GAS, JINDALWORLDWODE, JUSTDIAL, DLF, STAR PAPER, NAVLAR CORP
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