Sensex Powers Ahead 2% on Rally in Asia

Mukesh Buch
05 Oct, 2015
New York City

TVS and Tata Motors total vehicle sales slipped. National Buildings Construction secured new contracts and expanded its backlog. Life Insurance Corp sold its 2% stake in Chennai Petroleum. NTPC plans to sell electricity to Bangladesh.

[R]6:00 PM Mumbai – TVS and Tata Motors total vehicle sales slipped. National Buildings Construction secured new contracts and expanded its backlog. Life Insurance Corp sold its 2% stake in Chennai Petroleum. NTPC plans to sell electricity to Bangladesh.[/R]

Stocks in Mumbai soared following an Asia-wide rally on the back of a sharp jump in market indexes in Europe in today’s trading and in New York on Friday’s close.

Rupee strengthened 23 paisa to 65.28 against one U.S. dollar.

The Sensex Index jumped 564.60 or 2.1% to close at 26,785.55. The CNX Nifty advanced 168.40 or 2.1% to 8,119.30.

Gainers & Losers

Ahluwalia Contracts (India) Limited edged up 0.3% to ₹268.10 after the construction company won new orders worth ₹220.47 crore.

Biocon Limited rose 0.8% to ₹451.10 after the drug maker acquired business assets of Acacia Life Sciences Private Limited.

Chennai Petroleum Corporation Limited increased 1.2% to ₹222.55 after the petroleum products maker said the Life Insurance Corporation sold its 2% stake in the company.

Educomp Solutions Ltd soared 11.9% to ₹12.75 after the digital content solutions provider’s subsidiary sold its entire stake in Singapore-based Wiz Learn Tech.

Kalyani Steels Limited increased 1.9% to ₹131.20 after the steel products maker increased its stake in Lord Ganesha Minerals from 50% to 77.50%.

National Buildings Construction Corporation Ltd advanced 2.1% to ₹974.05 after the infrastructure developer secured contracts worth ₹276.96 crore from various clients in September.

NTPC Limited gained 2.9% to ₹127.40 after the power producer plans to sell electricity to Bangladesh from its upcoming 750 megawatts plant at Kokrajhar in Assam.

Tata Motors Limited soared 6.1% to ₹315.20 the truck maker said September passenger and commercial vehicles (including exports) sales decreased 2% at 45,215 units compared to 46,154 units from a year ago period.

TVS Motor Company Limited edged down 0.3% to ₹229 after the automaker said total sales in September fell 1.7% to 232,775 units.