Sensex Rises For Third Day, Nifty Settles Above 10,300
Indian equity benchmarks rose for third day in a row led by gains in ITC, HDFC, TCS and State Bank of India.
The S&P BSE Sensex rose 0.62 percent or 205 points to 33,455.79 and the NSE Nifty 50 Index advanced 0.55 percent or 57 points to 10,322.25.
Sixteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Information Technology Index's 1 percent gain. On the flipside, the S&P BSE Oil & Gas Index was the top sectoral loser, down 0.2 percent.
Gandhi Special Tubes Surges most In Three Years As Board Mulls Buyback
Shares of the Mumbai-based steel tube maker rose as much as 20.54 percent, the most in over three years, to Rs 371.25 after the company informed stock exchanges that its board will meet on Dec. 18 to discuss buyback of shares.
Fab Four Stocks Of The Day
- Parag Milk Foods: The Pune-based dairy products maker rose as much as 12 percent, the most in over a year, to Rs 273 after it tied up with Taj Group to serve its products on international flights.
- IL&FS Engineering and Construction: The Hyderabad-based infrastructure construction company rose as much as 6.2 percent, the most in over a month, to Rs 53.65 after it won pipeline laying contract from GAIL India worth Rs 215.79 crore, IL&FS Engineering and Construction said in a stock exchange filing on Friday.
- Jet Airways: The Mumbai-based airline operator rose as much as 4.95 percent to Rs 698.80 after Edelweiss upgraded its rating on the stock to ‘buy’ from ‘hold’ and raised its target price to Rs 822 from 548, indicating potential upside of 23.5 percent. Edelweiss is confident on strategic measures initiated by the new CEO to turnaround stressed financials.
- Omax Autos: The Gurugram-based auto component maker gained the most since in over a year on the back of strong Q2 results.
- Revenues up 11 percent at Rs 289 crore versus Rs 260 crore
- Net profit up 230 percent at Rs 3.3 crore versus Rs 1 crore
- EBITDA up 43 percent at Rs 14.6 crore versus Rs 10.2 crore
- Margins at 5.1 percent versus 3.9 percent
Prabhat Dairy Surges Most In Over A Year, Hits Record High
Shares of the Mumbai-based dairy products maker rose as much as 20 percent, the most in over a year, to record high of Rs 210.80 as it meets big institutional investors.
The company's management had informed stock exchanges on Friday that its management will meet various institutional investors.
The management is meeting institutional investors such as ICICI Prudential Life, Birla MF, Doric Capital, Kotak Mutual Fund, SBI Life Insurance, Invesco MF, ASK Investment Managers, M3 Investment, DSP Blackrock MF and IDFC MF.