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Indian shares rose to all-time highs on Tuesday led by gains in financials and FMCG stocks as investors await the outcome of the U.S. Federal Reserve’s policy meeting later this week.

The Sensex ended 221 points higher at its new closing high of 52,773 while the Nifty rose 57 points to settle at its fresh closing high of 15,869.

In intra-day deals, the Sensex jumped as much as 318 points to hit its record high of 52,869.51 while the Nifty added as much as 88 points to its new high of 15,901.

Broader markets were also positive for the day with the midcap and smallcap indices up around half a percent each.

Here are the key stocks that moved today: Gayatri Projects: The share price of Gayatri Projects jumped nearly 5 percent on Tuesday after the management clarified that the National Highways Authority of India (NHAI) has stopped projects with the company only until earlier orders are rectified. For the March quarter, the company reported a net profit of Rs 18.64 crore as against a net loss of Rs 80.99 crore during the year-ago quarter. Sales rose 49.44 percent to Rs 1,360.10 crore in Q4FY21 as against Rs 910.16 crore during the quarter ended March 2020. The stock dropped around 14 percent in the last two sessions on reports of NHAI declaring the company a non-performer. It barred the company from bidding on current and future road projects.

Gujarat Gas: Shares of Gujarat Gas company jumped over 8.5 percent after global brokerage house Nomura remained upbeat on the stock. The brokerage reiterated a buy call on the stock and raised its target price to Rs 875 from an earlier Rs 400. It also increased the stock’s FY22-23 EPS by 35 percent/42 percent. The city gas distribution company posted a consolidated profit of Rs 350.86 crore in Q4FY21, registering a growth of 40.1 percent over Rs 250.46 crore reported in the year-ago period.

Newgen Software: Shares of Newgen Software Technologies soared 8.5 percent after more than 10 percent of the company’s equity changed hands in a block deal. The names of the buyers and sellers were not ascertained immediately.

Sagar Cements: Shares of Sagar Cements were locked in 20 percent upper circuit at Rs 1,032.15 after the company announced the stock split plan. “The board of directors of the Company is scheduled to meet on July 01, 2021, inter-alia, to consider a proposal to sub-divide (split) the face value of the equity shares of the Company from Rs 10 each into an appropriate amount,” Sagar Cements said in an exchange filing.

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CNBC

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