MCX, HDIL, Oriental Bank of Commerce and Aurobindo Pharma are among the other gainers.
Biotechnology major Biocon spurted 11.38% to Rs 437.35 after the company announced during trading hours today, 18 December 2013, that it has entered into a licensing and collaboration agreement with Quark Pharmaceuticals, Inc. for the development of a range of small interfering RNA based novel therapeutics.
The Biocon stock hit a 52-week high of Rs 450.90 in intraday today. The stock topped the gainers in the BSE's 'A' group.
Commodity exchange operator MCX spurted 8.29% to Rs 421.35 after the company announced before trading hours today, 18 December 2013, that Forward Markets Commission (FMC) has accorded its approval to Blackstone GPV Capital partners (Mauritius) VI FII to increase its stake in MCX upto 4.99% through secondary market transaction. As on 30 September 2013, Blackstone GPV Capital Partners Mauritius VI FII held 10.19 lakh shares, or 2% stake, in MCX. The stock was second biggest gainer in 'A' group.
Real estate developer HDIL jumped 7.22% to Rs 49.75. The stock was third biggest gainer in 'A' group. Realty shares soared after the Reserve Bank of India (RBI) left key interest rates unchanged at mid-quarter monetary policy review today, 18 December 2013. Purchases of both residential and commercial property are largely driven by finance.
State-run Oriental Bank of Commerce climbed 6.22% to Rs 220.20. The stock was fourth biggest gainer in 'A' group.
Banks rose after RBI's status quo on key interest rates. RBI kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 7.75%. The cash reserve ratio (CRR) of scheduled banks was also left unchanged at 4% of net demand and time liability (NDTL).
Consequently, the reverse repo rate under the LAF will remain unchanged at 6.75%, and the marginal standing facility (MSF) rate and the Bank Rate at 8.75%.
Pharmaceutical company Aurobindo Pharma rose 6.17% to Rs 376.70, extending recent gains triggered by the company receiving the final approval from USFDA to manufacture and market a generic medicine in the United States. The stock was fifth biggest gainer in 'A' group.
Shares of Aurobindo Pharma have surged 26.43% in four trading sessions from a recent low of Rs 297.95 on 12 December 2013, after the company during trading hours on Friday, 13 December 2013, said it has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Duloxetine Hydrochloride Delayed-Release Capsules 20mg (base), 30mg (base) and 60mg (base) which was earlier tentatively approved. The stock had risen 3.99% to settle at Rs 309.85 on Friday, 13 December 2013.
The Aurobindo Pharma stock hit a record high of Rs 389 in intraday today.
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