Hindustan Zinc, NTPC, Adani Power, Tata Steel hit 52-week highs

NTPC, Hindustan Zinc, Adani Power, Tata Steel and Steel Authority of India (SAIL) were among 24 stocks from the BSE500 and Small-cap indices hitting their respective 52-week highs in intra-day trade.

Dalmia Bharat, Datamatics Global Services, Mastek, Pokarna, Sonata Software, Graphite India and Sterlite Technologies were other stocks that hit their 52-week highs.

At 10:55 am; the S&P BSE Sensex was up 0.57% or 155 points at 27,391, after hitting high of 27,423 in intra-day deal. The S&P BSE 500 and S&P BSE Smallcap indices were up 0.7% each.

Hindustan Zinc was up 4% to Rs 296 on reports that the government has demanded around Rs 15,000 crore in dividend payout from the company as the partly state-owned mining firm is sitting on surplus cash reserve.

Pokarna surged 16% to Rs 1,313, extending its 24% surge in past eight trading sessions on the BSE. The company on Tuesday announced that its subsidiary Pokarna Engineered Stone (PESL), has secured exclusive rights to use Bretonstone technology in India through March 2020.

Pokarna has used Bretonstone technology since 2009, when the company first began processing quartz in its Visakapatnam production facility.

Earlier on Monday, the company said PESL has plans to expand its quartz surfaces production capacity by 130% with an investment of Rs 325 crore in a Greenfield facility.

Mastek rallied 13% in past two trading sessions to Rs 197 after the company reported a strong 46.8% quarter on quarter (Q-o-Q) growth in consolidated net profit at Rs 11.23 crore for the third quarter ended December 31, 2016 (Q3FY17), driven by improvement in operational efficiencies and tax expenses.

IT software Products Company had profit of Rs 7.65 crore in September quarter. It had profit of Rs 79 lakh in Q3FY16.

NTPC Limited