Indian stocks climbed for a third straight session on optimism that the central bank will reduce interest rates later in the day to revive growth and as Asian equities extended gains.
The S&P BSE Sensex advanced 0.3 percent to 26,469 while the NSE Nifty gained 0.3 percent as well to 8,170. The market breadth was also encouraging with 987 advances, 428 declines and 435 stocks remaining unchanged.
Here are the stocks that are moving the markets today:
Sensex, Nifty: Movers & Shakers
Investors have adopted a cautiously optimistic approach ahead of the announcement of the RBI credit policy by the Monetary Policy Committee, led by Governor Urjit Patel. Most economists polled by BloombergQuint anticipate the central bank to cut rates by at least 25 basis points in an attempt to stoke growth engines post demonisation.
IL&FS Tansportation Networks
Shares of the infrastructure company rose 5 percent to Rs 105 after its joint venture emerged as the lowest bidder for a Chennai metro rail project worth Rs 371.2 crore. The project includes design validation and construction works of underground station platform level, architectural finishes, water tanks, ventilation shafts, plumbing, earthmat, etc.
The company has a deadline of 20 months within which the project has to be completed, it said in a notification to the exchanges.
Sun Pharmaceutical
Shares of the pharmaceutical major fell as much as 4.6 percent to Rs 674 after the Bombay Stock Exchange asked the company to clarify on a media report "U.S. FDA informs that Halol issued 14-page Form 483 post inspection".
A form 483 is issued when the drug regulator concludes inspection of a facility and has found conditions that may violate norms.
The ET Now report attributed the news to an IIFL report. Sun Pharma was the worst performer on the Sensex and the Nifty as of 11: 05 a.m.
Lupin
The drug maker rose 1.2 percent to Rs 1,545 after it received the final approval to market Desoximetasone Ointment, a generic version of Taro Pharmaceuticals' Topicort. Lupin received the approval from the U.S. Food and Drug Administration on Tuesday evening.
The drug is used for treatment of "inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses", also known as steroid-responsive dermatitis. Its non-generic version, Topicort, registered sales worth $14.4 million from September 2015-16, Lupin said in its press release.
Jubilant FoodWorks
Shares of the the Domino's Pizza franchise operator rose 2.4 percent to Rs 873 after the it launched two new products - Quattro Formaggi Burst Pizza and the Choco Pizza.
While the former is the company's version of a four-cheese pizza, the latter its the first dessert pizza on its menu. Quattro Formaggi will be available with any existing product for an additional price of Rs 99 whereas the dessert pizza will be available at Rs 199, according to the company's press release.
Deep Industries
Shares of the oil and gas company rose 1.5 percent to Rs 255 after it passed a resolution to open a Rs 125 crore qualified institutional placement issue with a floor price of Rs 239.08 per share. The floor price has come at a discount of 4.6 percent to the current market price of Rs 251.5 per share.
Deep industries' QIP board will meet again on December 9 to decide on the final price, the company said a filing to the exchanges.
Adani Enterprises
Shares of the company rose 2.1 percent to Rs 71 after it incorporated a wholly owned subsidiary named Adani Cementation Ltd. The subsidiary is yet to begin operations, according to the company's exchange filing, and has paid up capital worth Rs 5 lakh.
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