Nifty starts Oct series above 9800, Sensex gains 100 pts; GAIL up 6%
Equity benchmarks started off October series on a positive note, with the Nifty reclaiming 9800 level.
The 30-share BSE Sensex was up 97.09 points at 31,379.57 and the 50-share NSE Nifty gained 39.30 points at 9,808.25.
GAIL surged 6 percent after Petroleum & Natural Gas Regulatory Board Of India has floated consultation paper w.r.t unified tariff for company’s pipelines Rs 57 per mmbtu.
Bharti Airtel, HUL, NTPC and Tech Mahindra were mildly lower.Nifty Midcap was up 0.7 percent.
Shares of MEP Infrastructure Developers added 6.3 percent intraday as it has won a contract for collection of toll at all entry points to Delhi.
The company has been awarded the letter of award by the office of the director local bodies (Toll Tax Department) to engage as the contractor for South Delhi Municipal Corporation (SDMC).
The company will collect toll tax & environment compensation charge (ECC) at border points from specified commercial vehicles entering Delhi.
Finance Minister Arun Jaitley said the Goods and Services Tax (GST) collections in the first two months have met the target and going forward the revenue will see further surge.
"We are now just finished second month. As a base year of 2015-16, we had to give two hikes of 14 percent each to the states, and for both the months (July and August), with some part of the compensation cess, we are well within that figure," he said at the release of a book titled 'India@70 Modi@3.5'.
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