The BSE Sensex gained 119 points on Thursday to close at an 18-month high of 29,045, driven by bluechips that rose to hit new 52-week highs on the bourses. Maruti Suzuki shares rose to a one-year high of Rs. 5,499 but edged lower later in the day to close at Rs. 5,482.40. The company could go for a stock split from its current face value of Rs. 5 per share.
"A common demand or request I think of all shareholders was about share split and certainly I can assure that we will put this matter before board for consideration as what should be done in this matter," RC Bhargava, Chairman of Maruti Suzuki India Limited, said in Delhi on Thursday while responding to shareholders at the company's annual general meeting, reported PTI.
Sensex stocks that hit new 52-week highs include SBI (Rs. 271.55), Bajaj Auto (Rs. 3,115.60), Tata Steel (Rs. 408.50), Hero Motocorp (Rs. 3,739.90) and Hindustan Unilever (Rs. 953.45).
The 50-scrip, NSE Nifty closed 34 points higher at 8,952, led by Sun Pharma, Aurobindo Pharma, Bajaj Auto, Tata Steel and Grasim.
Other stocks on BSE that hit new 52-week highs on Thursday include Max Financial Services, Eicher Motors, Canara Bank, Apollo Tyres, UltraTech Cement, Tata Chemicals, Bajaj Finserv, JSW Steel and NMDC.
However, information technology (IT) stocks lost heavily on TCS giving a cautionary revenue outlook for the second quarter. The BSE IT index closed 2.49 percent lower on account of losses in major scrips. TCS lost 5.60 percent, Infosys 1.62 percent, Wipro 1.77 percent and Tech Mahindra 2.61 percent.
Yes Bank shares dropped 5.32 percent to close at Rs. 1,330.65.
Sectoral indices that gained on the BSE included auto, energy, consumer durables and the BSE auto index and realty.
Top real estate gainers included HDIL (up 7.75 percent), IRB Infrastructure Developers (up 5.75 percent) and Prestige Estates (up 4.77 percent).
IRB Infrastructure Developers announced plans to list India's first REIT.