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After Market: YES Bank stages solid bounce; auto sees value buying; Airtel, RIL big winners

YES Bank scripted a solid rebound and jumped 11 per cent from the day’s low on Thursday before closing 7 per cent higher. Bharti Airtel and JK Paper also gained for the day.

The BSE auto index was the biggest gainer, as investors resorted to value buying. RIL and TCS were the biggest contributors to the 115.35 point gain in the 30-share Sensex, which ended at 41,673. NSE barometer Nifty gained 38 points to 14,259.

“Despite premium valuation, the market is touching higher highs led by foreign inflows due to conviction on consistency in performance. The Union Budget is likely to be crucial for the market on account of new policies and to attract investments. Investors are factoring in a possible slippage in fiscal deficit due to slow pace in tax collection,” said Vinod Nair, Head of Research at Geojit Financial Services.

Here is a lowdown of the movers and shakers of Thursday’s session on Dalal Street:

YES Bank shares surge 7%
Shares of YES Bank gained 6.70 per cent at Rs 49.90 amid diverse market rumours, ranging from a possible QIP launch to raise money to a change in its lot size in the F&O segment.

Airtel’s Arpu at Rs 300
Shares of Bharti Airtel rallied 2.35 per cent to Rs 448.50 after Chairman Sunil Bharti Mittal said he expected the average revenue per user (ARPU) to rise to Rs 300 per month in future.

JK Paper up 2%
JK Paper shares rallied 2.1 per cent after Crisil upgraded the company’s long-term ratings. Crisil upgraded the ratings of the company’s long-term bank facilities, non-convertible debentures and fixed deposit programme to ‘AA-/FAA/Stable’ from ‘A+/FAA-/Positive’.

SPARC gains on acquisition
Shares of Sun Pharma Advanced Research Company (SPARC) added 1.26 per cent to Rs 164.65 after the company acquired exclusive rights for investigational medicinal product SCD-044.

Dr Agarwal’s raises Rs 215 crore
Dr. Agarwal’s Eye Hospital, a microcap company valued at Rs 133 crore, raised Rs 215 crore from a UK government’s development fund. Shares of the company added 1.32 per cent to Rs 284.85 following the news.

RIL, TCS lift Sensex
Reliance Industries (RIL) and TCS were the major driving force behind Thursday’s rally. RIL added 90 points to Sensex’s gain while TCS contributed with 63 points. HDFC twins were capped the gains as they together bled 74 points.

Auto stocks jump on value buying
Auto stocks surged on hopes of revival in demand for personal vehicles and value buying. Nifty Auto gained 1.03 per cent to 8,165 pushed by Eicher Motors that gained 3.05 per cent to Rs 22,399, TVS Motor that added 2.5 per cent to Rs 456.70 and Tata Motors that advanced 2.46 per cent to Rs 179.10 on NSE.

61 stocks hit 52-week highs
As many as 61 stocks hit their 52-week highs during the Thursday session including Aditya Birla Fashion, Avanti, CRISIL, HDFC Bank, Kotak Mahindra Bank, Manappuram Finance, Max Financial Services and Muthoot Finance

81 stocks flash ‘buy’ signals
As many as 81 stocks gave ‘buy’ signals as they crossed MACD signal line on the upside. They include Ashok Leyland, NBCC, Himadri Speciality, Escorts, Hero MotoCorp, Essel Propack, Syndicate Bank, Torrent Power and IRB Infra.

Source: Economic Times