Aided by a robust January performance, ACC made sharp gains in the market today hitting its 52-week high and Ambuja Cements also moved up sharply to share with it the honour.
But the star performer on the NSE was Bharti Airtel which is expected to benefit as an established player in the telecom space from the Supreme Court verdict on 2G spectrum case today. The scrip gained about 6.5 per cent.
ACC had reported that its January 2012 cement production and despatch were up by about 10 per cent compared to the previous year.
While production was 2.25 million tonnes, despatch was 2.23 mt. In the corresponding period last year, the production was 2.06 mt and despatch 2.05 mt. The positive performance had a significant impact on the stock price with the share moving up by Rs 62 to end at Rs 1,264.
Ambuja Cements too rallied by Rs 6.75 to close at Rs 169.95. Both the scrips hit their 52-week high during intra-day — ACC Rs 1,264.45 and Ambuja Rs 171.
Bharti Airtel was, however, the biggest gainer by percentage terms moving up by Rs 23.40 or 6.48 per cent to Rs 384.70. Among the other major gainers were HCL Tech up by Rs 23.10 at Rs 461, TCS by Rs 21.30 at Rs 1,150, Wipro by Rs 151.15 at Rs 427 and Hero Motocorp by Rs 37.85 at Rs 1,970.
Though SBI pared its losses, it ended in the red by Rs 12.60 at Rs 2,065. Axis Bank, which shed Rs 17.95 to close at Rs 1,070.15, and Dr.Reddy’s, which was down by Rs 39.50 to close at Rs 1,636.90, were among the other losers.