Mumbai: Benchmark share indices gained for the sixth consecutive session on Friday as foreign funds turned net buyers of Indian stocks over the last three days. Equities also rose led by gains in index heavyweights Reliance Industries and Tata Consultancy Services Ltd.
Foreign Portfolio Investors (FPIs) net bought shares worth ₹1158.63 crore on Thursday, as per provisional data released by the stock exchanges.
The benchmark index, the S&P BSE Sensex, gained 246.32 points or 0.63% to close at 39,298.38. The Nifty 50 index gained 75.50 points or 0.65% to close at 11,661.85.
The S&P BSE Mid-Cap index was up 1.78%. The S&P BSE Small-Cap index was up 1.65%. Both these indices outperformed the Sensex. On the BSE, 1602 shares rose and 928 shares fell and a total of 177 shares were unchanged.
Reliance Industries (RIL) rose 1.37% to close at ₹1415.30, ahead of its Q2 results today. RIL has become the first Indian company to cross ₹9 trillion market capitalization after its shares hit a 52-week high of ₹1,428 intraday. TCS closed at ₹2,057.35, gaining 1.3%.
Zee Entertainment Enterprises stock fell 5.55% to close at ₹250. The shares fell 10% intraday as issues around promoter debt remained a big overhang despite the company reporting a profit in the September quarter. The company recorded a revenue of ₹2,122 crore in the September quarter, up 7.4% from the year-ago period, while profit grew 6.9% to ₹413.2 crore. The growth was driven by the strong performance of domestic broadcast and digital businesses, the company said.
ARSS Infrastructure Projects shares hit 5% upper circuit at ₹24.05after the company said it has secured an order worth ₹76.15 crore for construction of handling platforms, railway track, truck parking area, buildings and other ancillary facilities for IFFCO at MMLP Paradip, Odisha.
K.P.R. Mill surged 7.44% to close at ₹609.80 after the apparel manufacturer said market regulator Sebi had allowed it to proceed with the buyback offer. On 11 July, K.P.R. Mill had cancelled the buyback proposal because of the increase in the amount of buyback obligation due to the tax proposal in the Finance Bill 2019.
Bharat Heavy Electricals soared 22.22% to close at ₹54.45 on reports the government may consider bringing down its stake in the company to 26% from 63.17%.
3M India fell 4.59% to close at ₹21838.15. Today, a total of 3,457 shares changed hands, over 14 times its two-week average trading volume of 243 shares.
TVS Motor Company rose 4.45% to close at ₹456.60 after the firm reported a consolidated net profit of ₹256.88 crore, up 15.09% on year.
Larsen & Toubro Infotech rose 7.55% to close at ₹1612. On a consolidated basis, the company’s net profit rose 1.2% sequentially to ₹360 crore in Q2. Its total income rose 3.03% to ₹2664.40 crore on a QoQ basis.