Tata Consumer Products share rose over 4% in early trade after NSE said the stock will replace GAIL India Ltd on the Nifty50 index from March 31. Stock of Tata Consumer Products hit a fresh 52 week high of Rs 652.85 rising 4.1% against previous close of Rs 627.50 on BSE.
The Tata group share has gained 3.29% in two days. The stock opened with a gain of 3.64% at Rs 654 today. Tata Consumer share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has gained 71.63% in one year and risen 7.5% since the beginning of this year. Market cap of the firm rose to Rs 58,361 crore on BSE. The changes in index are part of a periodic review conducted by the Index Maintenance Sub-Committee, the National Stock Exchange said in a release.
The Tata group company had reported a consolidated net profit of Rs 237 crore in October-December quarter, while its total income stood at Rs 3,089 crore. Meanwhile, Sensex traded 140 points higher at 49,895 and Nifty gained 40 points to trade at 14,750. Yesterday, Sensex ended 7 points higher at 49,751 and Nifty climbed 32 points to end at 14,707.