At 15:11pm (IST), Sensex surged 417 points at 15,658 and the NSE Nifty surged 123 points at 4,652.

Unabated buying have lifted the NSE Nifty above the 4650 levels led by gains in the index heavyweights like Reliance Industries, ICICI Bank, L&T, Infosys, ITC and HDFC.

At 3:13 pm (IST), the BSE 30-share Sensex surged 417 points at 15,658 and the NSE Nifty surged 123 points at 4,652.

Shares of ICICI Bank have advanced by 3% to Rs769 following reports that the company could make IPO in four subsidiaries or sell stake in its insurance ventures once the government raises sectoral FDI limit.

The stock opened at Rs750 and made an intra-day high of Rs774 and a low of Rs750. Total traded volumes stood at 3.9mn shares.

Shares of Tech Mahindra have gained by 3.5% to Rs849 after the company secured a portion of Rs15bn IT outsourcing deal from Etisalat, stated reports.

The stock opened at Rs839 and made an intra-day high of Rs852 and a low of Rs828. Total traded volumes stood at 0.6mn shares.

Shares of Austral Coke have shot up by over 9% to Rs52.45 after the company announced that it plans to raise upto US$200mn via QIP and also plans to consider bonus issue on September 3.

The stock opened at Rs52.45 and made an intra-day high of Rs56.40 and a low of Rs49.75. Total traded volumes stood at 1.8mn shares.

Shares of BGR Energy have surged by over 8% to Rs432 after its Electrical Projects Division of the company secured a turnkey contract worth Rs271mn from Nuclear Power Corporation of India Ltd, for implementation of 415 V Motor Control Centers (MCC) package for Bharatiya Nabhikiya Vidyut Nigam Ltd (BHAVINI), the 500 MW Prototype Fast Breeder Reactor (PFBR) Project at Kalpakkam, Chennai.

The scope of the contract includes supply of complete 415 V MCC Panels and associated Automation Systems for the 500 MW Plant. BGR Energy was successful against the only other qualified bidder viz., Larsen & Toubro in this tender.

The stock opened at Rs407 and made an intra-day high of Rs435 and a low of Rs404. Total traded volumes stood at 0.47mn shares.

source: Indiainfoline

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