Sensex up over 150 pts, Nifty hits 9900; Nilekani lifts Infosys 4%
Equity benchmarks started off the week on a strong note, with the Nifty reclaiming 9,900 level, largely driven by Infosys.
The 30-share BSE Sensex was up 154.47 points at 31,750.53 and the 50-share NSE Nifty gained 40.15 points at 9,897.20.
Infosys surged 4 percent as CLSA upgraded the stock to buy from underperform and raised target price to Rs 1,070 from Rs 940 after co-founder Nandan Nilekani joined the company again as non-executive chairman. CEO choices & strategy should improve, the research house said.
Kotak Mahindra Bank, Eicher Motors, Reliance Industries, Hindalco Industries, Sun Pharma and ONGC were other gainers.
Dr Reddy's Labs, Hero MotoCorp, Asian Paints and ITC were under pressure.
Nifty Midcap gained 0.4 percent as about four shares advanced for every share falling on the exchange.
DLF, Adani Enterprises, Adani Power, Future Enterprises, Suzlon Energy, Ansal Housing, Nestle India, Bajaj Finserv and Bajaj Finance rallied up to 6 percent whereas PC Jeweller, Titan Company, Strides, Wockhardt and Cadila Healthcare were under pressure.
Future Enterprises said the board of directors, of the company approved for the offer for sale of shares of its subsidiary company, Future Supply Chain Solutions (FSCSL), and participation of the company upto 5 percent of paid up capital of FSCSL.
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