Nifty held By Idea And Vodafone Merger
Feb 27, 2017 | 18:20 PM IST
Feb 27, 2017 | 18:20 PM IST
Share Market News - 27th February, 2017:
Stock market opens positive but bears snap the winning streak.
The Sensex lost 80.09 points to 28812.88
Nifty 42.8 points to 8896.7
Reliance gained 4.63% to 1237.0
Top Gainers:
Aurobindo Pharma by 2.03% to 679.8, Wipro by 1% to 490.95, Coal India by 0.73% to 330.1, Lupin by 0.69% to 1460.05.
Top Losers:
Idea Cellular lost 4.72% to 113.95. Axis Bank by 3.61% to 509.1, Power Grid by 3.46% to 192.25, Infratel by 3.07% to 288.75, Zeel by 2.67% to 504.7.
Reliance Industries continued its run up on first day of the week as well, up 4.74% to close at Rs.1,238.60, the highest closing level since May 29, 2008. The stock gained more than 16% in four consecutive sessions, especially after Reliance Jio announced tariff plans effective from April 1, 2017.
Morgan Stanley raised Reliances target price to Rs.1,506 (from Rs.1,280) while retaining overweight ratings to factor in higher energy earnings and increased clarity on telecom investments. RIL stock has underperformed its peers by sixty percentage points in the last 4 years as its returns lagged peers.
Stocks to watch - Reliance Industries is on up side while Infratel is on down side.
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