In a major measure to boost economy and come out from the current slump in Indian economy today Indian Finance Minister Nirmala Seetharaman announced a cut in corporate tax to 25.17 including all cess with effect from April 2020.
This raised sentiments in Dalal Street and both Indian Stock market Indices – Nifty and Sensex closed with record 5.32% gains today which is biggest single day rally over a decade in the history of Indian markets.
Here is a summary of stocks which performed well today.
In the 200 crore club – stocks with average traded value of 200 crore+ – Heromotocop, Bajfinance and maruti gained more than 10% while stocks like Titan, Hindunilvr, icicibank, asianpaint, bpcl, bajajfinsv, bhartiartl, axisbank, hdfclife and kotakbank gained more than 10%.
In the 100 crore club hdfcamc, bajaj-auto, srtransfin, icicigi, drreddy and mcdowell-n managed to sustain 4%+ gains by end of the day.
In the 50 crore group Dmart, Pidilitind, Muthootfin, Voltas, Nestleind, Igl and Petronet gained more than 4% in today’s trading.
30 crore+ stocks Cholafin, bergepaint, naukri, siemens and colpal performed well today.
In largecap stocks below 30 crore daily turnover stocks gskcons, godrejprop, kansainer and alkem managed more than 5% gains today.
In midcap stock many performed well after today’s tax cut announcement. Here is the list.
50Cr+ : Federalbnk, Jubfood, escorts, pvr, mgl, bataindia, srf, tataglobal and adanient.
20Cr+ : Bbtc, Kajariacer, Balkrishind, Centurytex, Amarajabat, Cesc, Enginersin and Tatachem.
10Cr+ : Trend, Dbl, Crompton, Cub, Kalpatpowr, abcapital, gspl, dcbbank and sanofi.
5Cr+ : Whirlpool, creditacc, lalpathlab, relaxo, aartiind, coromandel and iti.
In below 5cr category isec, jkcement, skfindia, sjvn, varroc, symphony, finpipe, sindarmfin and eihhotel managed to keep 4%+ gains today.
Here is the list of smallcap stocks which performed well today. In above 2 crore category stocks like ujjivan, deltacorp, philipcarb, radico, kei, jindalsaw, cgcl, inoxleisur, fsl, deepakntr, itdc, birlacorpn, hindcopper, mahscooter, trident and knrcon rallied 4% or more.
IIn below 2cr stocks jmcproject, rallis, geship, koltepatil, responind, jchac, thyrocare, gabriel, indianhume, masfin, aparinds, fact and esabindia gained more than 4% today.
In below 1000 cr market cap stocks Bfutilite, indiamart, affle, navkarcorp, bepl, mangalmcem, sripipes, libertshoe, waterbase, morepenlab, gokex, igarashi, camplifine, goldiam, pgel, maxvil, mstcltd, hondapower, kennamet, seamecltd, skipper, guficbio, dolat, pricolltd, shalpaints, dlinkindia, aries, oricoent, gss, sanginita and dynpro managed to sustain 4%+ gains today.
There is no guarantee that this trend will continue but today tax cut was a big boost to the struggling Indian Indices. Hope this trend will sustain in the coming days.