Sensex up over 100 pts, BHEL surges 6%
Larsen & Toubro has gained by nearly 2% after Barclays upgrades the stock to "overweight"
 "Sensex up over 100 pts, BHEL surges 6%")
Benchmark indices have recovered and are trading higher with Sensex and Nifty gaining by nearly 1% each led by metal and capital goods shares.
At 14:50 PM, the 30-share Sensex was up 141 point to trade at 18,661 and the 50-share Nifty up35 points at 5,504 levels.
BHEL is the top Sensex gainer, up over 6%. The company is gearing up for a major transformation in the face of the rupee’s depreciation. The company is reducing dependence on imports through enhanced localisation, optimising designs, increasing vendor base and outsourcing works.
Ranbaxy Laboratories has moved higher by 7% to Rs 412 on back of heavy volumes on the bourses. The stock opened at Rs 388 and hit a high of Rs 414, its highest level since June this year, on the National Stock Exchange (NSE).
Other notable gainers are Sterlite, NTPC, Wipro and JSPL have gained between 3-5%.
Among other shares, Singer India has soared 7% to Rs 109, extending its Friday’s 4% gain, ahead of its April-June (Q4) quarter earnings tomorrow.
The broader markets are out performing the benchmark indices- BSE Midcap and Smallcap indices are up nearly 1% each.
The market breadth in BSE remains positive with 1,266 shares advancing and 926 shares declining.
At 14:50 PM, the 30-share Sensex was up 141 point to trade at 18,661 and the 50-share Nifty up35 points at 5,504 levels.
BHEL is the top Sensex gainer, up over 6%. The company is gearing up for a major transformation in the face of the rupee’s depreciation. The company is reducing dependence on imports through enhanced localisation, optimising designs, increasing vendor base and outsourcing works.
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Larsen & Toubro has gained by nearly 2% after Barclays upgrades the stock to "overweight", citing a potential recovery in earnings and valuations.
Ranbaxy Laboratories has moved higher by 7% to Rs 412 on back of heavy volumes on the bourses. The stock opened at Rs 388 and hit a high of Rs 414, its highest level since June this year, on the National Stock Exchange (NSE).
Other notable gainers are Sterlite, NTPC, Wipro and JSPL have gained between 3-5%.
Among other shares, Singer India has soared 7% to Rs 109, extending its Friday’s 4% gain, ahead of its April-June (Q4) quarter earnings tomorrow.
The broader markets are out performing the benchmark indices- BSE Midcap and Smallcap indices are up nearly 1% each.
The market breadth in BSE remains positive with 1,266 shares advancing and 926 shares declining.