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ETMarkets After Hours: Tata Tele fires up on merger buzz; metals dazzle

12 October, 2017 12:59 PM
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ETMarkets After Hours: Tata Tele fires up on merger buzz; metals dazzle

NEW DELHI: It was pre-Diwali party on Dalal Street on Thursday, as the domestic market jumped to a three-week high amid hopes of better second quarter earnings. Firm global cues lifted the sentiments further, helping benchmark indices to break the shackles of rangebound trading.

The Sensex climbed 348 points or 1 per cent to settle at 32,182, with Reliance Industries (up 4 per cent) being the top gainer and Bharti Airtel (down 1 per cent) the worst laggard.

The broader Nifty50 index of National Stock Exchange (NSE) too had a spectacular run with the benchmark index crossing 10,100 mark at the fag-end of the session. However, it settled at 10,096, up 112 points or 1 per cent. As many as 40 out of 50 components settled in the green.

Shares of Majesco hit one-year high on Thursday after reports said that Majesco & MetLife have collaborated for IBM Insurance Platform. The IBM Insurance Platform aims to improve the processes and economics for new product development, underwriting and benefit delivery. The scrip closed at Rs 528 apiece, up 7 per cent.

Shares of Man Industries hit upper circuit of 20 per cent on Thursday after the company received order worth Rs 925 crore from GAIL. “The company has received an order for $142.44 million from GAIL for supply of about 1,16,000 MT line pipes for Jagdishpur-Haldia-Bokaro-Dhamra Pipeline Project (JHBDPL), Phase II,” it said in a BSE filing. The scrip closed at Rs 109.50 apiece.

subscribed 79 per cent on the first day of the bidding process on Wednesday. The issue will close on Friday, October 13.

Also read: Nifty retreats from peak as Samvat 2073 ends on flat note

Shares of Tata Teleservices (Maharashtra) zoomed 10 per cent in today's trade amid reports that Tata Tele and Bharti Airtel may combine consumer telecom business. The stock settled at Rs 4.42 on BSE.

Metal stocks dazzled on Dalal Street on Thursday, thus pushing Nifty Metal index to end as top index gainer. The index jumped 2 per cent to close the session at 3,741 with 12 out of 15 stocks closing in the green.

After collapsing over 250 points a day before, banking stocks made sharp advances on Thursday with Nifty Bank index gaining 1 per cent to settle at 24,361. IDFC Bank (up 2 per cent), Axis Bank (up 1.75 per cent) and IndusInd Bank (up 1.73 per cent) were the major contruibutors to the surge.

Shares of Can Fin Homes witnessed the biggest spurt in open interest contracts at 414.97 per cent, followed by NBCC (87.46 per cent) and Hindalco (39.24 per cent).

Also read: Airtel stock surges on Tata mobile unit deal

Source: economictimes.indiatimes.com

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