Benchmark indices Nifty and Sensex recorded a higher close for a fourth session on June 27, with Nifty making a nine-month high and Nifty Bank closing at all-time high.
Sensex closed 303.03 points or 0.36 percent higher at 84,058.90, while Nifty ended the session 88.80 points or 0.35 percent higher at 25,637.80. Easing geopolitical tensions following the Israel-Iran ceasefire and optimism around a potential US-India trade deal have been key tailwinds for the rally.
Here are the stocks that moved the most on June 27:
IndusInd Bank shares sharply surged nearly 4 percent in trade on June 27, after CNBC-TV18 reported that Axis Bank's Rajiv Anand is a strong candidate for the CEO position. HDFC Bank's Rahul Shukla and Bajaj Finance's Anup Saha are also likely to be running for the role, the channel said, citing sources.
Jio Financial Services shares rose over 4 percent intraday on Friday after the Securities and Exchange Board of India (SEBI) approved Jio BlackRock Broking to function as a stockbroker.
Adani Enterprises shares closed over 2 percent higher, tracking gains in metal shares after White House Press Secretary said the July 9 deadline for reimposition of tariff on imports was 'not critical' and could be extended, but it is for the President to decide.
Varun Beverages shares rose 2 percent in trade, snapping a two-day losing streak after HSBC retained its buy rating and said the recent correction in the stock has been unwarranted. With a price target of Rs 670 per share, the international brokerage implies an upside potential of over 46 percent from the last closing price of Rs 458 per share on the NSE.
Shares of State Bank of India gained over a percent on June 27 after CLSA maintained an outperform rating on the lender, citing the bank's strong positioning in the coming quarters. With a target price of Rs 1,050 per share, the brokerage implies an upside potential of 32 percent from the last close of Rs 797 per share on the NSE. SBI has continued to gain market share for the fourth consecutive year, not only from PSU peers but also from some private sector banks. While deposit growth was modest, its CASA performance outpaced that of peers, CLSA said.
Torrent Pharma shares rose 4 percent in trade after global brokerage JPMorgan upgraded the stock to ‘Overweight’, citing strong growth levers in the coming quarters. With a target price of Rs 3,800, JPMorgan implies an upside potential of 18 percent from the last closing price. The previous target price given by the brokerage was Rs 3,650.
Shares of paints major Akzo Nobel India rallied over six percent in early trade after JSW Paints agreed to acquire up to 74.76 percent stake in the company. JSW Paints signed agreements to acquire up to 74.76 percent stake in Akzo Nobel India from its parent company and affiliates for up to Rs 8,986 crore, subject to final adjustments, the company said in a filing. The deal will need approval from the Competition Commission of India and includes a mandatory open offer to public shareholders.
Shares of Prime Focus rose sharply on Friday, rising as much as 20 percent in trade amid strong volumes, marking the third consecutive session of gains. In a large block deal during opening trade, around 15.1 million shares of Prime Focus were exchanged, contributing to the spike in volume.
Zudio-parent Trent shares fell over a percent as investors may have resorted to profit booking at elevated levels in the stock that is trading at a P/E of 135x.
Axis Bank shares closed in the red after a significant rise the previous day. However, the Nifty Bank index had hit a fresh lifetime high today, breaking its previous day's record.
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