Eicher Motors Ltd., Bajaj Finserv Ltd., and Bajaj Finance Ltd. emerged as the top gainers of the trade on Thursday. On the other hand, Sun Pharmaceuticals Industries Ltd. and Britannia Industries were the worst performers of the Nifty 50 index.
The benchmark equity indices of India extended their rally to a second session and both Nifty 50 and BSE Sensex recorded their best sessions since Nov 22. Both the indices logged their highest closing since Dec. 18, with Nifty ending 1.88% or 445.75 points up at 24,188.65 and Sensex closing 1.83% or 1,436.30 points higher at 79,943.71.
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Eicher Motors, the top gainer in the Nifty 50 index, closed 8.65% higher at Rs 5,308.10 after it rose as much as 9.10% during the day to hit a fresh life high of Rs 5,330. This comes after the Royal Enfield-maker posted a strong performance for December, with total sales reaching 79,466 units, surpassing the estimated 74,500 units.
Bajaj Finserv was also among the key gainers of the day, as its stock closed 7.88% higher at Rs 1,700.65 apiece on the NSE. The total vehicle sales reached 69,768 units with a 16% growth compared to the last year.
Bajaj Finance's stock rallied 7.13% to Rs 7,430 and closed 6.54% higher on Thursday after Citi rated it a 'buy' with a price target of Rs 8,150 apiece, with a 17% upside. The stock has risen 6.54% in the first two sessions of this year.
Maruti Suzuki India Ltd., which has been among the key gainers for the second day, closed 5.65% higher at Rs 11,841.3 per share on the NSE. The automaker on Wednesday had reported robust sales data for December. Its total production volume rose 30.3% to 1.57 lakh, in comparison to 1.21 lakh reported in the same month last year.
Shriram Finance Ltd. closed 4.84% higher at Rs 3,060.05 per share after seeing a 5.15% rise during the day.
On the flip side, Sun Pharma shares plunged up to 1.32%, before closing 0.63% lower at Rs 592.95 apiece. Britannia Industries fell as much as 1.49% to Rs 4,723.10 on Thursday, but it saw some recovery and closed 0.14% lower.
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