M&M, HDFC Life Insurance, Nelco and other stocks that moved most on July 19
- Mahindra & Mahindra surged 1.86% to settle at Rs 1,185
- HDFC Life Insurance stock ended 1.35% down at Rs 535.45
- Nelco rose 5% to end at Rs 654.70
The BSE Sensex surged 246.47 points or 0.45% to settle at 54,767.62 after starting the trade on a weak note. In a choppy session, the benchmark traded in a range of 54,817.52 to 54,232.82 during the day. Similarly, the NSE Nifty jumped 62.05 points, or 0.38% to close at 16,340.55.
The broader indices ended in green with the BSE Midcap index up by 0.68%, while the Small cap index was up by 0.88%. On the sectoral front, Realty was up by 2.66%, Bankex was up by 0.95%, Auto was up by 0.88%, Metal was up by 0.81% and PSU was up by 0.74%, while Oil & Gas down by 0.33% was the only losing index on BSE.
Here are the key stocks that moved the most on July 19:
Mahindra and Mahindra: The share surged 1.86% to settle at Rs 1,185 after the company increased the stake in Finland-based arm Sampo Rosenlew Oy to 100% with the acquisition of shares for over Rs 35 crore.
HDFC Life Insurance: The stock ended 1.35% down at Rs 535.45 after the company’s standalone net profit for the quarter ended June came in at Rs 365 crore, rising 21% year-on-year from Rs 302 crore in the year-ago period. HDFC Life’s value of the new business (VNB) rose 25% to Rs 510 crore. Its Indian embedded value increased 9% year-on-year to Rs 29,709 crore.
Nelco: The stock rose 5% to end at Rs 654.70 after the company reported a 7.8% year-on-year growth in consolidated profit at Rs 4.72 crore for the April-June quarter supported by a robust topline. Revenue jumped 48% to Rs 81.48 crore.
Tube Investments: The share surged 10.88% to close at Rs 2,234 after the company, through its subsidiary TI Clean Mobility Pvt Ltd (TICMPL), acquired a 65.2% stake in IPLTech Electric (IPLT) through a combination of equity shares from founders and other shareholders of IPLT. Additionally, the company decided to make a further investment of up to Rs 150 crore in subsidiary TICMPL and make a provision of inter-corporate deposit of an amount up to Rs 100 crore to it.
Edelweiss Financial Services Limited: The stock price fell 4.03% to close at Rs 57.20 after Sheetal Gandhi resigned and Manishkumar Jain was appointed the new CFO of the company.