The markets snapped five-session long losing streak after Asian markets bounced tracking a firmer Wall Street after weaker-than-expected July consumer price data led investors to bet that benign inflation would keep the US Federal Reserve from raising rates again this year.

Back home, investors will react to industrial output data, which slipped into negative territory in June, dragged down by a contraction in manufacturing, apart from an unabated fall in capital goods.

Figures for the Index of Industrial Production (IIP), released by the government on Friday, showed national factory output contracting by 0.1%, a 48-month low, as compared to the 2.7% rise seen in the previous month of May.

Suzlon Energy, CESC, BEML, Adani Ports, DLF, Sun TV, CG Power, JP Associates, GVK Power, GMR Infra, Techno Electric, Voltamp Transformers and Mercator surged up to 7 percent.

Benchmark indices remained strong in morning trade as the Sensex was up 219.35 points at 31,432.94 and the Nifty rose 70.95 points to 9,781.75.   More than four shares advanced for every share falling on the BSE.   9:25 am Buzzing: Shares of Suzlon Energy added 10 percent intraday as the company turned profitable in the quarter ended June 2017.

The company has reported net profit of Rs 63.7 crore in the quarter ended June 2017 (Q1FY18) against the loss of Rs 257 crore, in the same quarter last fiscal.   Revenue of the company increased 62.5 percent at Rs 2,676 crore versus Rs 1,646 crore.

The board also approved the issuance of redeemable non-convertible debentures (NCDs) to the extent of Rs 900 crore on private placement basis in one or more tranches for replacement of existing debt subject to approval of shareholder in the ensuing annual general meeting of the company.   The company’s 2nd AGM will be held on September 22, 2017.

source: moneycontrol.com