Shares of three Nifty 50 organizations in the stock market index- Reliance Industries (RIL), Tata Consultancy Services (TCS) and Bajaj Finance – hit their respective new highs on the National Stock Exchange (NSE) on Monday, rallied over 60 percent each in recent year.
Dabur India, Indiabulls Ventures, Havells India, Infibeam Avenues, RBL Bank, Sunteck Realty, MphasiS, Page Industries, JSW Steel, Merck, Pfizer, Torrent Pharmaceuticals and VIP Industries were added up to 17 stocks from the Nifty 500 index touched new highs today.
All of these stocks in the stock market index have outperformed the market by flooding over 40 percent as though about 18.5 percent rise in the Nifty 50 index in the recent year. Seven out of 17 stocks have moved towards becoming multi-baggers aroused up to 300 percent. TCS hit another high of Rs 2,055, up 1 percent, trading near its share buyback cost of Rs 2,100 per share. The stock had turned ex-date for share buyback on August 14, 2018.
RIL was exchanging higher for the 6th trading days, up 1.4 percent at Rs 1,296, likewise its new high on the NSE. Reliance Jio Infocomm, a telecom unit of RIL, has outperformed Vodafone India to wind up India’s second-biggest telecom operator by a revenue market share, as per a give an account of financial information released by the Telecom Regulatory Authority of India (TRAI) for the second quarter of 2018.
Indiabulls Ventures hit a record high of Rs 805, encouraged 40 percent amid recent month in the stock market index. The governing body of the organization at their gathering hung on August 14, had endorsed the proposal of raising funds aggregating up to Rs 80 billion, as per the report of Business Standard. The organization said it raised the funds for meeting their business requirements in order to help the future development of their organizations and to enlarge the long-term financial assets of the Company.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]