Sensex, Nifty at an all-time high; Reliance Industries in Life-Time Rise

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Sensex up over 200 points;  Reliance Industries and Tata Motors hit a lifetime high

Tata Motors’ share price rose 6 per cent to a 52-week high of Rs. 407.45.

Benchmark indices traded at record highs on Monday afternoon, with the BSE Sensex crossing 60,300 and the Nifty crossing 18,000, followed by Reliance Industries, Maruti Suzuki, Power Grid Corporation of India, Kotak Mahindra Bank and Mahindra & Mahindra. As at 2:26 pm, the BSE Sensex was up 60,297.50, 245 points, or 0.40 per cent, while the NSE Nifty was up 92 points at 17,996.

The BSE Midcap Index and the BSE Small Cap Index each gained 0.7% and wider markets outperformed their Larcocap counterparts.

Meanwhile, following the privatization of historic Air India, Investment and Public Property Management Department (DIPAM) Secretary Tuhin Kanda Pandey said the alliance with its four subsidiaries, including Air, and Rs. The government will start cashless operations worth over Rs 14,700 crore. Property such as land and building.

RIL hit a record high of Rs 2,724 on the BSE on intraday deals after the company acquired two companies on Sunday as part of Clean Energy. Reliance Industries, through its subsidiary Reliance New Energy Solar, will acquire a 40 per cent stake in Sterling & Wilson and a 100 per cent stake in REC Solar Holdings.

Following Tata Motors’ total sales of Q2 FY22 units of 64,032 units (excluding China JV) in July, Tata Motors jumped more than 6 per cent to a 52-week high of Rs. 407.45.

TCS, on the other hand, is down 6% on the BSE after its second quarter results. On Friday, the Mumbai-based company had posted a net profit of Rs 9,624 crore for the three months ended September 30, from Rs 7,475 crore a year earlier. Infosys, HCL Technologies and Tech Mahindra are trading at a loss of 1-2% each on the BSE.

The overall market width was positive as 2032 shares advanced while 1367 declined on the BSE.

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