Sun Pharma topped the buying list, climbing 5 percent in addition to 3 percent rally in previous session after it decided to buy Ranbaxy for equity value of USD 4 billion.

Investors are buying shares of Tata Steel after the company said it is selling its New Zealand unit. “Steel & Tube Holdings of New Zealand has agreed to acquire Tata Steel International (Australasia) (TSIAL) for a cash consideration of NZ dollar 27.5 million on April 14,” the company said in its filing.

TSIAL, which is based in New Zealand, is a distribution business supplying stainless steel, engineering steels and composite floor decks to the New Zealand and Pacific Island markets.

The momentum in the market is very much intact eyeing the election results on May 16, says Harendra Kumar of Elara Capital.

The Nifty is likely to get closer to 6900-7000 levels, which could be the euphoric peak or an intermediate top, says Kumar in an interview to CNBC-TV18 He thinks if one wants to look at stock ideas beyond election coutcome and Narrendra Modi then there are global companies for whom the tailwinds from weak currency and strong global markets are huge.

One can look at Tata Group companies’ like Tata Global Beverage, Indian Hotels, Tata Motors, even Tata Steel is coming out of its restructuring and showing high EBITDA per tonne in Corus, he adds.

Amtek Auto’s senior MD and CEO John Flintham said the Amtek group’s revenue is expected to be around Rs 15,000-16,000 crore by September 2014. Year 2013 was a “spectacular year??? for the group on the back of three acquisitions, he said.

“The revenues of Kuepper group are around Rs 1,400 crore and have been holding very steadily over the last six months prior to acquisition and we see nothing to change that going forward,??? Flintham said, adding that Neumayor Tekfor margins have risen from 6.5 percent to 9.5 percent. He said among European markets, Germany is seeing good growth. While UK markets are growing on robust exports, Flintham sees small signs of recovery in certain pockets in Indian sharemarkets as well.