The broking firm will be announcing its March quarter results the same day. Folloing the development, the stock rose 9.06 per cent to hit a fresh all-time high of Rs 2,270.80 on BSE.
The shares of stock broking firm Motilal Oswal surged 5% to days high at Rs 2,185 on Friday after it announced a proposal to consider allotment of bonus shares to its shareholders in an intimation filing to the exchanges.
Vodafone Idea has formed a new 52-week high on Wednesday. Fundamentally, the company is expected to secure funding (~Rs 20,000 crore in the form of debt and equity) from investors as per the latest earnings conference call.
Investors have to be cautious at this stage. Profit booking in the mid-and small-cap stocks which have shot up on hope and aggressive buying would be a good strategy, suggested an expert.