The broader sharemarket outperformed benchmarks with the BSE Midcap and Smallcap indices gaining 0.8 percent. More than three shares advanced for every share declining on the Bombay Stock Exchange.

Shares of Aban Offshore soared over 13 percent intraday after Credit Analysis and Research (CARE) Ratings upgraded. The rating agency has revised credit rating of bank facilities of Aban Offshore by 3 notches to BB- from D. CARE notes that timely deployment of rigs going off the contract, optimum deployment of its fleet, changes in day rates, effective cash flow management notwithstanding improvement in liquidity position in the recent past would be key rating upgrade parameters.

“The revision in the ratings assigned to the bank facilities of Aban takes into account improvement in capital structure consequent to mobilization of fresh equity during FY14 (refers to the period April 1 to March 31) and H1FY15, improvement in the financial performance during FY14 and H1FY15 and completion of refinancing of debt at the group level,??? CARE said in a note.

“Manufacturing is where the jobs are,??? Jaitley said at a public event, adding the sector had the potential to grow at 13-14 percent. He said the entry point into manufacturing had to be eased to be able to create more jobs. Referring to RBI Governor Raghuram Rajan’s remark that the Make in India campaign should be targeted more towards domestic demand and not so much the export market, Jaitley said: “Whether Make in India is made for consumers within India or consumers outside, is not so relevant. The principle today is that consumers across the world like to buy products that are cheaper and of good quality.???

Equity benchmarks continued to see buying interest with the Sensex rising 183.65 points to 27425.43 and the Nifty climbing 55.40 points to 8256.10. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices gaining 0.8 percent. More than three shares advanced for every share declining on the Bombay Stock Exchange.

Coustery : http://www.moneycontrol.com/news/local-markets/sensex-nifty-strong-midcaps-smallcaps-gain-too_1262666.html

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