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Markets extend gains; RCom, Venky’s stocks rise

Equity benchmarks extended gains led by HDFC Bank, HDFC, Larsen & Toubro and Reliance Industries.

Domestic benchmark indices extended gains on the back of positive trend in the global markets and led by gains in shares of realty, auto, public sector banks and metal.

Today’s gains were led by HDFC twins, Maruti, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank

At 11:53 AM, the BSE Sensex was trading at 34,380, up 238 points, while the Nifty50 index was trading at 10,563, up 72 points.

The gains were broad-based as the BSE Midcap Index gained 0.76% and the BSE Smallcap Index climbed 0.80%.

Dr Reddy’s Laboratories slipped over 1% after the USFDA maintained OAI status for the company’s Srikakulam plant.

Shares of Aster DM Healthcare got listed at Rs182, at a discount of 4.2%, against its issue price of Rs190.

Sterlite Technologies rose 6.5% after it secured Rs3,500cr advance purchase order to design, build and manage Indian Navy’s communications network.

Oriental Bank of Commerce stock slipped 9% after the CBI registered a case of fraud against a loan provided by the bank to Simbhaoli Sugars.

Venky’s India stock zoomed 4% on the back of heavy volumes after the company reported December quarter earnings. The company’s standalone revenue stood at Rs695.85cr, up 12.7% yoy and 18.36% qoq.

Shares of Vivimed Labs rose over 2% after its partner Strides Shasun launched Ranitidine over-the-counter tablets in the US. It’s the first generic that the has been launched in the US under the joint venture between Strides Shasun and Vivimed Labs.

Volatility index India VIX slipped 3.04% to 13.7700.

Tata Motors (+2.9%), L&T (+2.4%), BPCL (+2.3%), IndusInd Bank (+2.3%) and Adani Ports (+2.2%) were the top gainers on Nifty50.

Dr Reddy’s (-1.3%), Sun Pharma (-1.2%), Infosys (-1%), NTPC (-0.95%) and TCS (-0.88%) were the top losers in today’s trade.

Out of 2,028 stocks traded on the NSE, 1,180 advanced, 501 declined and 347 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.