Muthoot Finance leads gainers in 'A' group

Financial Technologies (India), Motherson Sumi Systems, Cadila Healthcare and Sesa Sterlite are among the other gainers.

Gold loan company Muthoot Finance hit an upper circuit limit of 20% at Rs 129.10. The stock topped the gainers in the BSE's 'A' group.

Shares of gold loan financing companies were in demand after the Reserve Bank of India (RBI) on Wednesday, 8 January 2014, relaxed norms for non-banking finance companies' (NBFCs) lending against gold jewellery. RBI hiked loan-to-value ratio (LTV) to up to 75% for loans against the collateral of gold jewellery from 60% with immediate effect.

Financial software maker Financial Technologies (India) (FTIL) hit an upper circuit limit of 10% at Rs 328.40, extending gains for the fifth consecutive session. The stock was second biggest gainer in 'A' group.

Shares of FTIL have surged 76.65% in five sessions from a recent low of Rs 185.90 on 2 January 2014.

Auto component maker Motherson Sumi Systems spurted 7.30% to Rs 212.50. The stock was third biggest gainer in 'A' group. The stock hit a record high of Rs 218 in intraday today, 9 January 2014.

Pharmaceutical company Cadila Healthcare climbed 5.29% to Rs 890.45 after the company announced during trading hours today, 9 January 2014, that it has received final approval from the US drug regulator to market Sirolimus Tablets 0.5 mg in the United States with 180 days of marketing exclusivity. As per IMS data in 2013, the sales of Sirolimus was approximately $203.8 million in the United States. The stock was fourth biggest gainer in 'A' group.

Vedanta group firm Sesa Sterlite rose 4.57% to Rs 200.35. The stock was fifth biggest gainer in 'A' group.

Powered by Capital Market - Live News