Mapping the market: Lupin, Sun Pharma hog limelight; 104 smallcaps@52-wk lows

NEW DELHI: What a day to the end the week with!

Banking and financial stocks regained their mojo and pharma stocks recouped some of the losses during a day when Sensex saw a 279-point jump amid a broadbased buying.

The market did not turn indecisive on mixed Asian cues earlier in the day and chose its own path, which was the silver lining of the day. Will this momentum continue? Only time can tell.

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Here is a wrapup of all the small and big developments defined the day’s proceedings on Dalal Street.

Sun Pharma pips Coal India as sixth most valued firm
The market capitalisation of Sun Pharma climbed to Rs 2,06,198 crore, exceeding that of Coal India’s Rs 2,06,040 crore during the day. This was the 57th time (of 1,305 sessions) that Sun Pharma managed to topple Coal India in terms of m-cap since the latter got listed on the stock exchanges on November 4, 2010. Sun Pharma shares rose 2.91 per cent to settle at Rs 856.80. Coal India added 1.48 per cent to close at Rs 326.20.

And the winner is… smallcaps; err, is it? Smallcaps? How come? A total of 104 of 749 BSE smallcap index stocks hit their 52-week low for the day. Having said that, the BSE smallcap index jumped 1.21 per cent on Friday against a 1.14 per cent rise in the BSE Sensex. Seven of every 10 BSE smallcap stocks ended higher, while was in line with the largecap stocks from the 30-pack index. This round goes to smallcaps.

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Lupin makes BSE healthcare top performer Lupin on Friday said its December quarter consolidated PAT fell 11.81 per cent YoY to Rs 530 crore compared with Rs 601 crore reported for the corresponding quarter last year. Yet the stock rallied as the numbers beat consensus estimates. The results helped the BSE healthcare index jump 3.37 per cent for the day. Lupin surged 9.04 per cent. Dishman Pharma, Jubilant Lifesciences, Marksans Pharma, Cadila Healthcare and Cipla added anywhere between 3.6 per cent and 7.9 per cent.

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Steel stocks up on hopes of govt help Steel stocks rallied up to 10 per cent in Friday's trade amid rumours that the government was set to impose a minimum import price (MIP) on steel imports, a move that could help step the fall in steel prices in the domestic market and give domestic players a level-playing field against cheaper Chinese imports.

Sources told ET Now that the government may notify MIP on steel products later in the day. All carbon steel products may attract minimum import price, they said. A total of 20 of 26 iron and steel stocks ended higher on BSE. Jindal Steel jumped 10.44 per cent followed by SAIL, Tata Steel and JSW Steel, which gained 6.10 per cent, 3.47 per cent and 2.83 per cent, respectively, for the day.

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Reliance Infra gains after selling cement biz Shares of Reliance Infrastructure climbed 6.75 per cent to settle at Rs 437.50. The company said it had signed the final binding agreement with Birla Corporation for sell 100 per cent stake in its 5.08 MTPA cement plant for an enterprise value of about Rs 4,800 crore. The company informed the exchanges about the fresh development post market hours of Thursday. Birla Corp ended 0.77 per cent lower at Rs 391.55.

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