February 21 morning trade saw shares of Reliance Industries Ltd, ICICI Bank and Mahindra & Mahindra striking their 52-week high while the Zee Entertainment Ltd stock plunged by 10 per cent.
Mukesh Ambani's RIL hit its 52-week-high of Rs 2,977.05 per share on Wednesday after it was revealed the company is set to invest in nuclear power sector.
ICICI Bank climbed on bolstered fundamentals that included a 23.5 per cent Year-over-Year rise in standalone net profit for the third quarter, and positive market sentiment. Superior margins and a strong Return of Equity also contributed to the latest hike. The 52-week-high of the bank was recorded at Rs 1,064 per share on Wednesday.
Mahindra & Mahindra also reported strong Q3 results in the current fiscal with the revenue increasing 17 per cent Y0Y at Rs 25,300 crore. This led the shares to hit a 52-week-high of Rs 1,889.7 per share.
After reports revealed that Sebi found about Rs 241 million being diverted from Zee Entertainment Ltd, the shares of the company slumped.
Bloomberg reported that Sebi has spoke to Zee founders Subhash Chandra and son Punit Goenka regarding the issue. "The amount found missing is not final and may change after Sebi reviews the responses from the company executives," the outlet reported, citing sources.
