The Sensex, Nifty opened in the green on Friday morning. The domestic market is trading higher tracking positive trade in Asian markets even as investors weighed the prospect of a higher interest-rate environment in the U.S.
Nifty closed with a gain of 142 points at 8,107, while BSE Sensex closed at 26,316, up 456 points or 1.76% from the previous close at 25,860.17 points.
On the economy front, PM Narendra Modi pushed for the need to move towards a digital economy, saying that people have the right to use their money, but that can also be done digitally.
Sun Pharma rose 1%. The US drug regulator has found seven breaches of manufacturing standards at Sun Pharmaceutical Industries Ltd’s formulations plant in Mohali, Punjab, following a recent inspection.
SpiceJet rallied 4.4%. The company will announce its Q2 numbers today.
Jagran Prakashan gained 1.5%. The company said its subsidiary Music Broadcast will raise up to Rs 400 crore through initial public offer.
Vardhman Textiles advanced 1.3%. The board of the company has approved buyback proposal for up to Rs 720 crore.
Reliance Industries is trading marginally lower on the BSE. A flash fire broke out at Reliance Industries’ Ltd refinery complex at Moti Khavdi near Jamnagar on Thursday in which some contract workers were injured, the company said.
Wipro rose 2.2%. The company has informed bourses that it has granted 5,000 Restricted Stock Units under Restricted Stock Unit Plan 2007 effective November 1, 2016 to its identified employee.
Khaitan (India) jumped 4.7%. The company has infomed bourses that it has submitted an application for reference to the Board for Industrial and Financial Reconstruction (BIFR) as it has become a sick industrial company pursuant to the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).
Jindal Poly Films dropped 2.9%. The company reported a consolidated net profit of Rs 77 crore for the September quarter, lower than the Rs 99.9 crore in the year-ago period.
Talwalkars Better Value Fitness climbed 3.6% after the management has decided to demerge gym business, thereby transferring gym business of TBVFL to TLL, in the interest of maximising overall shareholder value.
TCS rallied 2.5%. Tata Consultancy Services is rethinking how it appraises its over 3,70,000 employees after scrapping the Bell Curve model.
Sterlite Technologies zoomed 3%.The company informed bourses that Crisil has upgraded the Long term credit rating to ‘CRISIL AA-/Stable’ from ‘CRISIL A+/Watch Developing’ and Short term credit rating have been upgraded to ‘CRISIL A1+’ from ‘CRISIL A1 /Watch Developing’.
LT Foods gained 2.3%. The company has inked a 51:49 joint venture with Kameda Seika, to sell rice-based snacks in India.
Natco Pharma inched up 1% after the pharma company has received final approval from the US health regulator for generic version of Budesonide capsules used for treatment of active Crohn’s disease for the American market.
YES Bank gained 2% To Rs 1,143. The bank announced a partnership with Gujarat State Road Transport Corporation (GSRTC) to digitise payment of bus tickets for its customers.
DLF Ltd is currently trading at Rs 110.6, down by Rs 2.55 or 2.25% from its previous closing of Rs 113.15 on the BSE.
The Indian rupee opened marginally higher by one paise at 68.72/$ against the previous close of 68.73/$.
Out of 1,874 stocks traded on the NSE, 269 declined, 1,213 advanced and 392 remained unchanged today.
Top 5 Nifty Gainers: Bharti Airtel (3.17%), Hero MotoCorp (2.33%), NTPC (1.89%), Bajaj Auto (1.56%) and ITC Ltd. (1.49%).
Top 5 Nifty Losers: SBI (-1.99%), ICICI Bank (-1.77%), TCS (-1.18%), Wipro (-1.13%) and Lupin Ltd. (-0.95%)
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