Markets ended at record highs on Monday on hopes that the new government would unveil reforms in the infrastructure space
Stock gained on talk that Kumar Mangalam Birla will acquire 16% stake in the company,
Hindustan Oil, GVK Power, KSK Energy, JK Laskhmi Cement, Reliance Ind Infra, Shakti Pumps, Man Infra, Suzlon Energy and Dalmia Cement have rallied 20% each on BSE.
Markets staged a recovery amid institutional buying in infrastructure, oil and gas stocks
Texmaco Rail and Engineering, Kernex Microsystems (India), Kalindee Rail Nirman (Engineers), BEML and Titagarh Wagons have gained upto 20%.
On account of election results, brokers had last week reduced exposures in intra-day as well as delivery based trade to guard against excessive volatility
Power and PSU stocks, including Tata Power and NTPC, are doing well this afternoon.
Check out the F&O trends in select stocks with Navneet Daga, Derivative Analyst at KR Choksey Securities
World commodity prices have surged in recent years, driven by rising demand from increasingly affluent shoppers in emerging markets and particularly China
Lower expenditure on incentives, sale of long-term equity investments add to bottom line
The BSE mid-cap index gained 2.18% or 7,935 and the small-cap index was up 3.26% or 257 points at 8,143.
At 1140 hours, the BSE IT, Healthcare and FMCG index are down 3-5% compared to a 0.59% rise in the Sensex.
The low-cost airline's net loss widened to Rs 321 crore in the fourth quarter ended March from Rs 186 crore in the same quarter last fiscal.
The BSE mid-cap index gained 2.18% or 7,935 and the small-cap index was up 3.26% or 257 points at 8,143
At 1105 hours, the S&P BSE mid-cap and small-cap indices rallied 2-3% as compared to 0.15% rise in S&P BSE Sensex.
Metal shares have firmed up on hopes that clearance of infrastructure projects by the new government would lead to revival in demand
Coal India, Tata Power and ONGC going strong, while IT stocks face the heat
HCL Technologies, Wipro, TCS and Infosys are down 4-5% on the National Stock Exchange.
Coal India, RCF, Power Finance, Indian Bank, REC, SCI, Hindustan Copper, BEML and Dena Bank have rallied 6-11% on the BSE.
Weakness in IT and FMCG pack has negated the gains in banking space