Hindalco, one of the top gainers on the Nifty 50 Index, gained ~3% after falling from day's highs on the back of a positive report from Axis Capital. Axis Capital believes Hindalco is well placed structurally as well as cyclically and that Earnings outlook for Novelis is also improving as can destocking is now over. UPL too gained 4% after Antique upgraded the stock to buy from hold, with a revised target of Rs 780 per share. NBCC meanwhile hit 52 week high after they signed an MoU with the Govt. for Monetization of the Non-core assets of Rashtriya Ispat Nigam Ltd. NBCC also bagged an order from SAIL worth Rs 180 cr. Board of DB Realty allotted 1 cr shares each to Mrs. Rekha Jhunjhunwala and RARE Investments upon exercise of conversion option- which lead to a surge of 8.5% on the stock.
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