DLF, Gail, Maruti Suzuki hit 52-week high

December 07
16:25 2017
DLF, Den Networks, Cyient and ISGEC Heavy Engineering are among 10 stocks from the S&P BSE 500 index hit their respective 52-week high on the BSE in intra-day trade after nearly one percentage point gain in the benchmark Sensex. 

Of these 10 stocks,Gail (India), Maruti Suzuki India, TVS Motor Company, Aegis Logistics, Biocon and KEC International have touched their respective record high on Thursday.

Gail (India) has surged 7% to Rs 488 after the media report suggested that the company announced plans for capital expenditure of Rs 6,000 crore by the end of the FY19. This investment is to construct another 2,500 km gas pipelines by 2020.

DLF was up 3% to Rs 240, extending its 2% gain in past three trading sessions, after its board on Friday approved the issue of debentures and warrants to promoters in lieu of Rs 11,250 crore equity infusion into the company, as part of its objective to reduce net debt significantly.

The board also gave its nod to selling shares through public issue or private placement to institutional investors. The company is estimated to raise more than Rs 3,500 crore through this process.

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