Indian indices ended over 2 percent higher on Wednesday, extending gains for the third straight session, mainly led by a rally in banks, financials and metal stocks. Meanwhile, IT, pharma and FMCG sectors also supported the frontline indices.
The Sensex ended 1148 points higher at 51,444 while the Nifty rose 326 points to settle at 15,245. Broader markets were also positive for the day with the midcap and smallcap indices up 1.7 percent and 1 percent for the day.
All sectors, barring Nifty Auto, also ended in the green for the day. Nifty Metal rose the most, up over 3 percent while Nifty Bank and Nifty Fin Services rose over 2.5 percent each.
Here are the key stocks that moved today:
IRCON International: Shares of IRCON International fell over 7 percent as the company kicked off a 2-day offer for sale for up to 16 percent stake of the government. The price band for the OFS has been set at Rs 88 per share. Only non-retail investors can participate on day 1 of the issue while retail investors can participate on the second day. The base issue size of the OFS is 10 percent or over 4.70 crore equity shares, with a green-shoe option to retain over-subscription of 6 percent or over 2.82 crore shares.
RPP Infra: Shares of RPP Infra Projects rose over 5 percent after the firm said it has bagged four orders worth Rs 1,000 crore. The company, in an exchange filing, on Wednesday announced that it has received four letters of acceptance for four new projects.
Tata Power: Tata Power Company was up 5 percent after the company signed Power Purchase Agreement with Tata Steel. Tata Power announced that TP Saurya Limited, the wholly-owned subsidiary of The Tata Power Company Limited, has signed a Power Purchase Agreement with Tata Steel to develop a 15 MW solar project at Jamshedpur, Jharkhand, the company said in an exchange filing.
Interglobe Aviation: Interglobe Aviation (IndiGo) share price was up over 5 percent after Morgan Stanley maintained a buy call on the stock. The global research firm has retained a buy rating on the stock with a target of Rs 1,935 per share. It is of the view that the company is well placed to weather the current storm adding that the airline should gain share over FY20-23.
(Edited by : Pranati Deva)