STOCK MARKET - Unitech, JP Associates, GVK Power, Shree Renuka Sugars hit 52-week high

STOCK MARKET - Unitech, Jaiprakash Associates, Jaypee Infratech, Shree Renuka Sugars, South Indian Bank and Future Enterprises are among 30 stocks from the S&P BSE Smallcap index hitting their respective 52-week high on BSE on Monday.

At 10:41 am; the S&P BSE Smallcap index was up 0.60% at 16,088, as compared to 0.55% rise in the S&P BSE Sensex. The index hit a new high of 16,097 on BSE in intra-day trade today.

Jaypee Infratech, Unitech, GVK Power & Infrastructure, Shree Renuka Sugars and Jaiprakash Associates have rallied more than 50% in the last one month.

GVK Power & Infrastructure has soared 17% to Rs 11.69, extending its Friday’s 20% surge on the BSE. On July 21, 2017 Equity Intelligence India Private Limited [P M S] bought 18.8 million shares representing 1.19% stake in GVK Power & Infrastructure at Rs 9.61 per share on the NSE, the bulk deal data shows. Porinju Veliyath, ace investor, is the Founder & CEO of Equity Intelligence India.

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GVK Power, JP Associates, Welspun Corp, HEG hit 52-week highs

GVK Power & Infrastructure, Jaiprakash Associates, Welspun Corp and HEG hit their respective 52-week highs, trading higher by up to 20% on BSE in otherwise subdued market.

GVK Power & Infrastructure was locked in upper circuit of 20% at Rs 9.99 on back of over five-fold jump in trading volumes.


Till 1:20 pm; a combined 76 million equity shares representing 4.8% of total equity of GVK Power changed hands on the NSE and BSE.

stock of the electric utilities company has surged 37% in past six trading sessions from Rs 7.29 on July 13, after it informed the bourses that it has exited Bangalore International Airport Limited (BIAL) by selling its residual 10% stake in the airport project to the Prem Watsa-led Fairfax India Holdings Corporation (Fairfax India) for Rs 1,290 crore.

Commenting on the exit from Bengalauru airport, GVK Reddy, founder chairman and managing director, GVK Group said,” We will now focus on Mumbai as well as the Navi Mumbai airport, for which we have won the bid and also on selectively evaluating privatisation opportunities. Capacity optimisation and real estate development will now be our priority areas for the existing Mumbai airport."

JP Associates, too, surged 15% to Rs 26.50 on BSE in intra-day trade. In past two months, the stock it has zoomed 132% from Rs 11.44 as against 4% rise in S&P BSE Sensex.

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