Nifty Midcap100 Index Hits new High after Stocks Rally

Nifty Midcap100 Index hit a new high after stocks like Hindustan Zinc, Shree Cement, Crisil, Reliance Infrastructure, Jubilant Life Sciences and Pidilite Industries rallied more than 6 per cent on the National Stock Exchange (NSE) on Monday. At 02:55 pm, Nifty Midcap100 index was up 2.7 per cent at 15,830, as compared to 1.5 per cent rise in the Nifty 50 Index. The midcap100 index hit a new high of 15,839 in intra-day trade, transcending its previous high of 15,817.90, touched on 29^th September during the trade.

Reliance Infra surged 8 per cent to Rs.598 after Anil Ambani-led Reliance Group and Rafale maker Dassault Aviation made an announcement of a JV – joint venture that will be a ‘key player’ in execution of offset contract worth about Rs.22,000 cr as part of the fighter jet deal.

The “Dassault Reliance Aerospace” JV – Joint Venture shall be a key player in the execution of offset obligations, as part of the 36 Rafale fighter Jets purchase agreement at a value of 7.87 billion Euros, or about Rs.59,000 cr signed between France and India on 23^rdSeptember, 2016, Reliance Infra stated in a press release.

Jubilant Life Sciences was up 7 per cent at Rs.655, after hitting a record high of Rs.676 in early morning trade. The company said that its wholly-owned subsidiary had received approval from the US health regulator – USFDA for RUBY-FILL — Rubidium 82 generator and elution system used in diagnosis of coronary artery disease in the United States market.

A total of 11 stocks from the Nifty Midcap100 index include Ceat, Crisil, Jubilant Life Sciences, Hindustan Zinc, Mahindra & Mahindra Financial Services, Kansai Nerolac, MRF, SRF, Shree Cement, Vakrangee and TVS Motor Company – hit their respective record highs on the National Stock Exchange.

The stocks which made 52-week high out of the above:

• Hindustan Zinc Limited
• SRF Limited
• Crisil Limited
• Jubilant Life Sciences Limited
• Mahindra & Mahindra Financial Services Limited
• Shree Cement Limited
• Kansai Nerolac Paints Limited
• Sun TV Network Limited