Stock Market Live: Nifty Above 24,800, Sensex Up 500 Points After RBI Monetary Policy; Tata Motors Shares Rise
Tata Motors shares surge after the company set the record date for the demerger of its shares. Shriram Finance is also in focus after MUFG denied stake sale news.
KEY HIGHLIGHTS
Stock Market News Live: Volume Buzzers
In terms of volume buzz, counters that are seeing high volume are Tata Motors, Shariram Finance, ICICI Bank and HDFC Bank ahead of market close.
Stock Market News Live: Auto Sales
Ashok Leyland Sales Key Highlights (YoY)
Total Sales up 9% at 18,813 Units
Domestic Sales up 7% at 17,209 Units
Domestic M&HCV Sales up 3% at 10,499 Units
Total LCV Sales up 14% at 7,005 Units
Stock Market News Live: Making Rupee Global
The Reserve Bank of India on Wednesday announced a slew of measures to promote the internationalisation of the rupee. These include allowing foreigners to invest money stored in rupee vostro accounts in corporate bonds.
"We have been making steady progress in the use of Indian Rupee for international trade. Three measures are proposed in this regard," Governor Sanjay Malhotra said on Wednesday.
Stock Market News Live: Nifty 50 Check
Nifty 50 as of 2:20 p.m. was trading above 24,800 with Tata Motors, Shriram Finance, Kotak Mahindra Bank and Trent leading gains.
The counters that have slipped into red are Bajaj Finance, Tata Steel, Maruti Suzuki and Bajaj Auto.
Stock Market News Live: Tata Motors Share Price
The shares of Tata Motors surged nearly 5% to Rs 712.9 apiece on the NSE during trade so far, after the company set the record date for the the demerger share issue on Oct. 14.
The company is set to allot one share of Tata Motors Ltd., commercial vehicles for every share held in company, according to an exchnage filing on Wednesday.
