The list of laggards is topped by Yes Bank which is trading 96 per cent below its all-time high of more than Rs 400 it hit in August 2018 over the corporate governance issues.
In the largecap segment, 15 companies witnessed significant block deals worth Rs 6,668 crore, led by HDFC Bank with a 49 block count, totalling Rs 2,963 crore. The next in line were Axis Bank (Rs 785 crore), Kotak Mahindra Bank (Rs 603 crore), Cholamandalam Investment & Finance Company (Rs 325 crore) and UltraTech Cement Company (Rs 325 crore).
The recent bull run is significant because it follows a long bearish period when public shareholders questioned the profitability of these companies. The improved financial performance of tech companies is now forcing other new entrants to focus on better financials before approaching the market.
Top stock picks for today: Kiran Jani said Hindalco saw multiple bullish pattern breakouts. "It is trading above all its important moving averages. One should go long at the current market price for a target price of Rs 480, keeping a stop loss placed at Rs 454", the market expert stated.