Reliance Nippon, Pidilite Industries, PVR, Ajanta Pharma, Reliance Communications, Monnet Ispat, Gokaldas Exports, Videocon Industries, Wockhardt and Unitech rallied 1-6 percent while Bank of India and Motherson Sumi were down 1 percent each.
10:15 am Buzzing: Infrastructure company IVRCL said it has entered into a pact with Singapore-based Cube Highways and Infrastructure to sell its entire stake in two subsidiaries for Rs 726.18 crore. The stock rallied 17 percent.
“The company has entered into a share purchase agreements with Cube Highways and Infrastructure Pte Ltd for sale of the entire stake in two subsidiary companies viz., Salem Tollways Ltd (STL) and Kumarapalayam Tollways Ltd (KTL),” IVRCL said in a statement.
10:05 am Rupee Trade: The rupee wiped out early gains to trade flat at 64.11 against the dollar today after the US Congress gave its final seal of approval to a sweeping tax legislation.
Dubbed as the biggest overhaul of the US tax code in 30 years, the Bill slashes taxes for corporates as well as the middle class.In the opening session, the domestic unit went up 10 paise to 64.01.
Yesterday, it had lost 7 paise at 64.11 against the US currency due to dollar demand from importers.
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