UltraTech Cement, a flagship company of the Aditya Birla Group, reaches an all-time high stock price of ₹8,960 apiece after acquiring cement grinding assets in Jharkhand.
Eight out of 15 Nifty Auto constituents have touched new record highs this year. TVS Motor Company and Bajaj Auto have seen significant gains in their stock prices this year. Eicher Motors, Tube Investments, Balkrishna Industries, and MRF have also achieved new all-time highs.
JK Tyre and Industries saw a robust start to Thursday s trading session, with its stock opening at ₹344 per share, a significant increase from the previous day s close at ₹308.15. It continued to perform well, reaching a peak of ₹351.25 per share, reflecting a remarkable 14% increase.
Balkrishna Industries shares rally to a new high on Q2 performance. Brokerage firm Sharekhan maintains a Hold rating on the stock with a target price of ₹2,720 apiece, while Kotak Institutional Equities maintains a Sell rating with a target price of ₹1,900 apiece.
The company released its Q2FY24 numbers after market hours on Monday, with its consolidated net profit growing by 3125% YoY to ₹207 crore in the second quarter as compared to a net profit of ₹6.4 crore in the corresponding quarter of the last fiscal year.