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Shares of the state-run lender rose as much as 10.27 percent, the most in seven months, to Rs 72.50 as trading volumes rose.
Trading volume was 1.3 times its 20-day average, data compiled by Bloomberg showed.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Kolkata-based private sector lender rose as much as 5.54 percent to Rs 513.80 after its profit rose 47 percent in September quarter.
Key earnings highlights:
Shares of the country's largest carmaker rose as much as 5.23 percent, the most since Dec. 19, to Rs 7,050 as its trading volumes rose.
Trading volume was 1.3 times its 20-day average, data compiled by Bloomberg showed.
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Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Mumbai-based local search engine rose as much as 9.71 percent, the most since May 28, to Rs 467 on the back of heavy volumes.
Trading volume was 1.7 times its 20-day average, data compiled by Bloomberg showed.
Over 24 lakh shares changed hands on the National Stock Exchange as per the information available on NSE's website.
Shares of the state-owned power generator rose as much as 12.6 percent, the most since March 2017, to Rs 83 apiece.
NLC India’s board approves to buy back 14.19 lakh shares at Rs 88 a share, according to an exchange filing. The amount of buyback aggregates to Rs 1,249 crore. The shares proposed in the buyback represent 9.28 percent of the company’s equity paid-up share capital.
Shares of aviation companies rose after a report suggested that the government has sought for Election Commission's nod for cutting excise duty on jet fuel, CNBC TV18 reported citing sources.
Current rate of excise duty on ATF is 14 percent; In 2014, excise duty on ATF Was increased from 8 percent to 14 percent.
Buyers and sellers were not immediately known
Source: Bloomberg
Indian equity benchmarks extended gains led by Reliance Industries, ICICI Bank, HDFC and Maruti Suzuki.
The Sensex rose 1 percent or 335 points to 34,635 and the Nifty 50 Index climbed 1 percent or 108 points to 10,409.
Seventeen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Auto Index's 2.2 percent gain. On the other hand, the S&P BSE IT Index was top loser, down 0.3 percent.
Shares of Graphite India and HEG were locked in 5 percent and 20 percent upper circuits after Bank of America Merrill Lynch initiated coverage on both the stocks with 'buy' for a potential upside of 100 percent from the last regular trade.
HEG
Graphite India
Shares of the state-run ship builder fell 13 percent to list at Rs 102.40 against issue price of Rs 118.
Its initial public offer was subscribed 1.02 times.
The company extended the issue closure date after receiving lukewarm response and also revised the price band from Rs 115-118 to Rs 114-118 per share.
Shares of the Mumbai-based parent of luxury carmaker Jaguar Land Rover rebounded as much as 3.5 percent to Rs 191 after it reported wholesale numbers for September, after market hours yesterday.
Key wholesales highlights:
India Is Considering Tapping Its Citizens Abroad to Prop Rupee
The rupee may find some support after sources said that the government may consider raising funds from overseas Indians to prop up the currency.
However, the pressure on the rupee has been relentless. And the fall in the currency to a new low against the dollar is set to extend to 75 by the end of the year after the RBI decided to hold rates.
The central bank has left the rupee out in the cold, seemingly opening the floodgates for further rupee weakness, according to Commerzbank.
In bonds, investors will watch out for the outcome of the Rs 7,000 crore of T-bill sales later today.
DBS Bank expects the 10-year bond yields to stay supported at 7.9-7.95 percent. It also expects shorter tenors to move sideways-to-slightly above 7.70 percent as speculation over imminent rate hikes abated. Inflation data on Friday will be watched.
BofAML on HEG
BofAML on Graphite India
Macquarie on Ashoka Buildcon
JPMorgan on Tata Steel
Credit Suisse on Avenue Supermarts
CLSA on Financials
(As reported on Oct. 9)
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Banks Grapple With More Than Rs 15,000-Crore Tax Demand On Free Services
Here are some key events coming up:
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