HPCL, Reliance Communications, BPCL and Nestle India are among the other gainers.
Shares of public sector oil marketing firms were in demand. Indian Oil Corporation spurted 5.87% to Rs 224.50 and topped the gainers in the BSE's 'A' group. HPCL jumped 4.85% to Rs 236.55 and was second biggest gainer in 'A' group. BPCL gained 2.77% to Rs 339.45 and was fourth biggest gainer in 'A' group.
Oil Minister Veerappa Moily was quoted by media as saying on Thursday, 16 January 2014, that a panel of ministers has approved sale of a 10% stake in IOC through a block deal on the stock exchanges. State exploration firms ONGC and Oil India will buy the stake, Oil Secretary Vivek Rae was quoted as saying. The transaction is likely within the next week or so, Rae said.
Reliance Communications surged 3.13% to Rs 125.30. The stock was third biggest gainer in 'A' group.
Nestle India rose 1.7% to Rs 5,229 and was fifth biggest gainer in 'A' group. The stock rose on bargain hunting after falling 5.13% in three trading days to Rs 5,141.70 on 16 January 2014 from a recent high of Rs 5,420.15 on 13 January 2014.
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