IndiGo, IndusInd Bank, Bharat Financial, Apollo Tyres hit 52-week highs

Shares of InterGlobe Aviation, which operates no-frills carrier IndiGo, private sector lender IndusInd Bank, tyre Company Apollo Tyres and microfinance institution Bharat Financial Inclusion were among 11 stocks from the S&P BSE500 index hitting their respective 52-week highs in otherwise subdued market.

Britannia Industries, Dilip Buildcon, Firstsource Solutions, Lakshmi Machine Works, MRF, Nestle India and TV18 Broadcasting too hit 52-week highs in intra-day trade on the BSE on Tuesday. At 01:36 pm; the S&P BSE Sensex was trading 0.09% lower at 33,224 points.

IndusInd Bank hit a new high of Rs 1,841, up 2%, surpassed its previous high of Rs 1,818 recorded on September 12, 2017 on the BSE in intra-day trade.

The stock has outperformed the market by gaining 15% from its recent low of Rs 1,595 on February 21, after the private sector lender said it has no direct credit exposures to Nirav Modi nor any indirect credit exposures basis the LOUs issued by the Punjab National Bank. As regards Gitanjali Gems, the Bank has a small, two digit exposures, not linked to any LOUs, it added.