In the past four trading sessions, it has gained 4.2% after the Reserve Bank of India (RBI) cut the repo rate by 25 basis points to 7.75% last week.
Meanwhile, the benchmark indices, the S&P BSE Sensex and the CNX Nifty also closed at their respective record highs on the back of strong buying from the foreign institutional investors (FIIs).
Till Monday, FIIs have made net investments of Rs 3,272 crore in past three trading sessions, as per provisional data of stock exchanges.
Among stocks, Housing Development and Finance Corporation (HDFC), Tata Motors, ICICI Bank, HDFC Bank, Ambuja Cements, Axis Bank, Shree Cement and YES Bank are few among 36 stocks from BSE-500 index hit their respective lifetime highs in intra-day deals today.
SE Investments was locked in upper circuit of 20% at Rs 315 on BSE after the company announced that is applying with the Reserve Bank of India (RBI) for conversion of the company into small finance bank. Kesoram Industries, too, surged 20% to Rs 137 on reports that MRF is in talks to buy its tyre unit.
Gateway Distriparks rallied 11% to Rs 424, extending its previous day’s 5% gain, after Blackstone GPV Capital Partners (Investor) have sent a letter to the company and the company’s subsidiary company – Gateway Rail Freight Limited (GRFL) requesting the company to effect an IPO of GRFL in accordance with the terms of the Share Subscription & Shareholders Agreement (SSHA) dated November 09, 2009.
Sesa Sterlite, Tata Teleservices (Maharashtra), Whirlpool of India, Aban Offshore, Bombay Dyeing, Prestige Estates Projects, Suven Life Sciences and Jindal Saw also rallied more than 5% each.