GST 2.0 buzz sparked a relief rally on Dalal Street, with the Nifty briefly reclaiming the 25,000 mark as auto stocks led the charge.
Cement stocks were in full swing on August 18, with Ultratech Cement, JK Cement, ACC, Shree Cement, and others rallying as much as 5 percent after reports of potential changes in the Goods and Services Tax (GST) regime sparked optimism.
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Maruti Suzuki | CMP: Rs 14,100 | India's largest auto maker, Maruti Suzuki, rallied over 9 percent, recording their sharpest single-day rise in five years after reports of a likely GST cut on entry-level two-wheelers, compact cars and hybrids. Morgan Stanley noted that Hero MotoCorp and Eicher Motors stand to gain the most among two-wheelers, with Maruti Suzuki and M&M emerging as key beneficiaries in passenger vehicles.
Ashok Leyland | CMP: Rs 131 | Ashok Leyland climbed 7 percent after the company reported an in-line set of June quarter (Q1FY26) numbers. The Street cheered its steady operating performance, with brokerages turning positive on the counter and projecting further gains of up to 15 percent from the day’s high. UBS reiterated a “buy” call on the stock with a target price of Rs 150, highlighting that the company delivered a margin beat on the back of operational discipline.
Banking and non-banking financial institutions such as HDFC Bank, ICICI Bank, and Bajaj Finance rallied up to 6 percent after credit ratings agency S&P Global upgraded the ratings of the top 10 financial institutions, saying that India's financial institutions will continue to ride the country's good economic growth momentum.
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Vodafone Idea | CMP: Rs 6| Vodafone Idea shares rallied as much as 8 percent as investors took heart from the telco’s June quarter performance, where losses narrowed sequentially. The upbeat tone in the broader market also added to the momentum. Net loss came in at Rs 6,608 crore, wider than the Rs 6,432 crore loss a year ago but an improvement from Rs 7,166 crore reported in the March quarter.
KEC International | CMP: Rs 834 | The stock surged 7 percent on August 18 after the company secured new orders worth Rs 1,402 crore across various segments.
Dixon Tech | CMP: Rs 16,790 | The stock surged 4 percent after the company formed a Rs 370 crore joint venture with China's HKC Overseas.
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MCX | CMP: Rs 8,300 | The stock rose over 3 percent on August 18 after the commodity exchange launched the Nickel futures contract, effective today. The contract will contribute to efficient price discovery and encourage greater value chain participation across the country.
Insurance stocks | Shares of Niva Bupa, Star Health, ICICI Lombard rallied on August 18 amid expectations that Goods and Services Tax (GST) on health and life insurance may be reduced to 5% or given a complete exemption.
Hyundai Motor India | CMP: Rs 2,448 | The stock surged as much as 10% on August 18, witnessing their biggest intraday gain since making their stock market debut in October 2024.
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