Adani Ent, Tata Comm, SBI Life, L&T and 24 other BSE500 stocks at new highs

Shares of Adani Enterprises, Adani Green Energy, Tata Communications, SBI Life Insurance, Astral and Prestige Estates Projects are among the 28 stocks from the S&P BSE500 index, which hit all-time highs on the BSE in Monday’s intra-day trade as equity markets continue their rally ahead of the Union Budget.

Infosys, Tata Consultancy Services (TCS) and Tanla Platforms from the IT sector; Chambal Fertilisers & Chemicals and Deepak Fertilizers and Petrochemicals Corp from fertiliser space; Trident, Vardhman Textiles, KPR Mill and Aditya Birla Fashions from textiles, and Thermax, Praj Industries and Larsen & Toubro from the capital goods segment, hit their respective record highs today.

Shares of TCS hit an all-time high of Rs 4,043, up 2 per cent on the BSE. In the past three sessions, the stock of the information technology (IT) services major was up nearly 5 per cent, after TCS beat street estimates on growth for the quarter ended December 2021 (Q3FY22). The stock price of the company surpassed its previous high of Rs 3,990 touched on October 8, 2021.

The company has also announced a buyback of Rs 18,000 crore (40 million shares at Rs 4,500 per share). The amount is 12.5 per cent higher than historical buyback. The company also declared an interim dividend of Rs 7 share to be paid on February 7, 2022. TCS has fixed January 20, 2022 as the record date for the purpose of payment of third interim dividend. The stock will turn ex-date for interim dividend on Wednesday, January 19, 2022.

Shares of Adani Green Energy (AGEL) hit a new high of Rs 1,847.95, up 9 per cent today, and surging 29 per cent in the past one week on the BSE after the company announced a provisional operational update for the December quarter (Q3FY22). The stock of the renewable energy arm of the diversified Adani Group has rallied 41 per cent in the last 12 trading days.

In Q3, AGEL said sales of the energy business increased by 97 per cent year on year (YoY) at 2,504 million units in Q3FY22, backed by robust performance in both solar and wind portfolios. In Q3FY21, it stood 1,273 million units, while total operational capacity rose by 84 per cent on-year to 5,410 MW.

Solar portfolio capacity utilization factor (CUF) was at 21.9 per cent with 110 bps improvement YoY backed by around 100 per cent plant availability, while wind portfolio CUF at was 18.6 per cent with 10 bps improvement YoY backed by around 97 per cent plant availability, AGEL said.

Shares of Adani Enterprises, the another Adani Group company, too hit a new high of Rs 1,900.90, up 1.5 per cent in intra-day trade today.

According to a PTI report, edible oil major Adani Wilmar Ltd (AWL) has cut the size of its initial share-sale to Rs 3,600 crore from the Rs 4,500 crore planned earlier. The company, which sells cooking oils under the Fortune brand, is expected to float its initial public offering (IPO) this month, PTI reported quoting sources. AWL is a 50:50 joint venture company between Ahmedabad-based Adani group and Singapore’s Wilmar group.

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