48 BSE stocks at record level; HDFC Bank, other lenders hit 52-week highs

NEW DELHI: Forty-eight BSE-listed stocks hit all-time highs in morning trade on Monday. The list included IndusInd Bank, Biocon and Indraprastha Gas ( IGL), among others.

Overall, 165 BSE stocks hit 52-week highs in the first hour of trade. Banking and finance stocks such as HDFC Bank, Union Bank, IDBI Bank, Bank of Baroda and Bank of India led the gainers.

While hopes of a 25 bps rate cut by the Reserve Bank of India (RBI) in the forthcoming policy review lifted banking stocks, positive announcements in the Budget announced last week and stock-specific news boosted others.

Among the stocks that hit their all-time high levels was Biocon, which hit an all-time high of Rs 1,084.75. IndusInd Bank hit a record high of Rs 1,335.95, while IGL hit a fresh high of Rs 515. ICICI Prudential Life, Future Retail, Aarti Industries and Andhra Sugars were some of the other stocks that hit new peaks on Monday.

That said, a number of stocks such as HDFC Bank, Sun TV, IOC, MTNL Indian Bank, Natco Pharma, Godrej Properties and BEML hit 52-week highs in trade.