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 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.
Here’s a look at the top newsmakers of Dalal Street on Thursday
Bharti Infratel surges post block deal
Shares of Bharti Infratel surged over 6 per cent after 11.9 lakh shares of the company traded in a block deal. The scrip ended at 433 apiece, up 5.35 per
cent on BSE.
Majesco hits 1-year high
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.
Man Industries zooms 20%
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.
The 11,370-crore initial public offer (IPO) of General Insurance Corporation of India (GIC Re) got subscribed 88 per cent on the second day of the bidding process on Thursday. India’s third biggest IPO after Coal India’s Rs 15,200 crore and Reliance Power’s Rs 11,700 crore issues, had been
subscribed 79 per cent on the first day of the bidding process on Wednesday. The issue will close on Friday, October 13.
Tata Tele jumps 10 per cent
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.
Banks make a comeback
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.