The Indian equity benchmark indices ended at record closing highs on Tuesday, with the Nifty50 index settling above 16,100. The Sensex rallied 872.73 points, or 1.65 percent, to close at 53,823.36, while the Nifty ended 245.60 points, or 1.55 percent, higher at 16,130.75.
Broader markets underperformed the frontliners as the Nifty Smcallcap100 fell 0.24 percent and the Nifty Midcap100 closed flat.
Among sectors, Nifty FMCG, Nifty Auto, Nifty Private Bank, Nifty Financial Services and Nifty IT gained over 1 percent, while metal and media indices ended in the red.
"Hope that India will be a beneficiary of the recent troubles faced by China is keeping sentiments upbeat. While valuations seem high, there is no point in pre-empting a top, but rather wait for signs of medium-term change in trend," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Here are key stocks that moved the most today:
Housing Development Finance Corporation (HDFC) shares ended over 3 percent higher, a day after the mortgage lender's quarterly performance beat analysts' forecasts. HDFC on Monday reported a net profit of Rs 3,000.67 crore for the quarter ended June 30, down 1.67 percent on year. Analysts in a CNBC-TV18 poll had estimated the company's Q1 net profit at Rs 2,898.7 crore.
Tata Motors' share price gained over 2 percent after the company announced an increase in the prices of its passenger vehicles. The company hiked the prices on an average of 0.8 percent, depending on the variant and model.
The shares of Vodafone-Idea (VI) tanked 10 percent after Kumar Mangalam Birla said he was ready to "hand over stake" in the company to a government entity. Chairman of the Aditya Birla Group, Kumar Mangalam Birla in a letter to Cabinet Secretary Rajiv Gauba offered his ownership in cash-strapped telecom company to the Public Sector Unit (PSU), a government entity or any domestic financial entity, or any other entity that government may consider worthy of keeping the company as a going concern. The letter was delivered in June.
Raghav Productivity Enhancers
The share price of Raghav Productivity Enhancers ended at 5 percent upper circuit at Rs 752.70, also its all-time high level after it said that ace investor Rakesh Jhunjhunwala will invest about Rs 31 crore in the company by buying six lakh unsecured compulsorily convertible debentures (CCDs) of the company.
Tejas Networks' shares closed at 5 percent upper circuit, a day after Tata Sons' subsidiary Panatone Finvest acquired an 8 percent stake in the company, as part of the Tata group's plan to acquire a controlling stake.
Shree Renuka Sugars
The stock price of Shree Renuka Sugars ended at 5 percent lower circuit at Rs 31.95 apiece on the BSE after the company's net loss in Q1FY22 widened to Rs 241 crore from Rs 35.3 crore in the year-ago period. Revenue of the company declined to Rs 829.5 crore against Rs 1310.7 crore, YoY.