Sensex in India Soars 1.4%, Coal India Strike Called Off

Mukesh Buch
08 Jan, 2015
New York City

HDFC Bank plans to raise Rs 10,000 crore or $1.6 billion. Wipro won a $400 million contract from the Swiss-based ABB. Kotak Mahindra closed at a record high after shareholders approved the purchase of ING Vysya Bank.

[R]6:00 PM Mumbai – HDFC Bank plans to raise Rs 10,000 crore or $1.6 billion. Wipro won a $400 million contract from the Swiss-based ABB. Kotak Mahindra closed at a record high after shareholders approved the purchase of ING Vysya Bank.[/R]

Stocks in Mumbai rebounded following market advances in Japan and Asia. Banks and Coal India were in focus after mining union called off a two-day old strike.

Kotak Mahindra jumped to a record high after shareholders approved the acquisition of ING Vysya Bank.

Indian rupee eased to 62.67 against one dollar.

The Sensex Index jumped 365.89 or 1.4% to close at 27,274.71. The CNX Nifty advanced 132.50 or 1.6% to 8,234.60.

Gainers & Losers

HDFC Bank Limited advanced 2.1% to Rs 964.50 and the financial service provider plans to raise Rs 10,000 crore by selling shares to domestic and foreign investors.

SPML Infra Limited jumped 5.7% to Rs 89.40 after the infrastructure developer received new orders worth Rs 334 crore from Karnataka Urban Infrastructure Development and Finance Corporation.

Suzlon Energy Limited slipped 1.7% to Rs 15.20 and the wind turbine maker is in talks to sell its German business for $2.5 billion.

Wipro Limited rose 0.6% to Rs 545.05 after the information technology company won a contract for about $400 million from Switzerland-based engineering company ABB.

YES Bank, Ltd advanced 1.5% to Rs 768.80 after the financial service provider plans to raise Rs 5,500 crore this year.