The rally in Nifty was led by gains in Tata Motors, Hero MotoCorp, L&T, Hindalco and GAIL.
Tracking the momentum, the S&P BSE Sensex also managed to rally as much as 216 points to hit its fresh record high of 26854.08, supported by gains in capital goods, consumer durables, banks, power and metal stocks.
India's economy expanded at its fastest pace in more than two years in the April-June quarter. India's GDP grew at 5.7 per cent in the first quarter of 2014-15, exceeding expectations.
At 10:00 a.m.; BSE Sensex was trading 192 points higher at 26831.76. It hit a fresh record high 26854.08 and a low of 26732.39 in trade today.
The 50-share Nifty index also managed to surge over 60 points to hit its fresh record high of 8022.70, led by gains in NTPC, Coal India, Hindalco, L&T and SBI. As much as 65 stocks rose to their fresh 52-week high on the National Stock Exchange.
Here is a list of fifteen stocks which are in focus today:
BPCL, IOC, HPCL: Petrol price was today cut by Rs 1.82 a litre, the third reduction in rates this month, but diesel rates were hiked by 50 paise per litre.
At 10:20 a.m.; BPCL was trading 0.6 per cent higher at Rs 698, HPCL was up 1.4 per cent and IOC was trading 2 per cent higher.
M&M Ltd: Auto major Mahindra & Mahindra, will invest Rs 4,000 crore over a 7-year period to expand its existing facility at Chakan in Maharashtra.
At 10:20 a.m.; M&M was trading 0.13 per cent higher at Rs 1407.
CEAT: Tyre maker Ceat, which plans to raise up to Rs 500 crore through issue of securities, will use majority of the fund to finance expansion of its ongoing projects in Bangladesh and Gujarat.
At 10:20 a.m.; the stock was trading 3 per cent higher at Rs 605.10.
NTPC: Power major NTPC said it is aiming at 8,000-9,000 MW capacity takeover in stressed power plants but the recent Supreme Court ruling on coal mines may have an impact on the move.
At 10:20 a.m.; the stock was trading 1.09 per cent higher at Rs 139.20.
Alstom India Ltd: French electrical engineering group Alstom has won contracts with a total value of 800 million euros to build high-voltage direct current power transmission lines in India, South Korea and Canada, the firm said.
At 10:20 a.m.; the stock was trading 1.8 per cent higher at Rs 495.55.
Adani Enterprises Ltd: Adani Enterprises has agreed to pay A$155 million ($145 million) to Linc Energy to buy out the Australian firm's rights to future royalties from Adani's huge but delayed Carmichael coal project, already four years behind schedule.
At 10:20 a.m.; the stock was trading 0.8 per cent higher at Rs 482.
ONGC: The oil ministry has ordered an inquiry into the difficulties experienced by the Oil & Natural Gas Corp (ONGC) in executing projects, resulting in production targets being missed.
At 10:20 a.m.; the stock was trading 0.9 per cent higher at Rs 439.15.
Dewan Housing Finance: US-based Prudential Financial Inc., which manages $1.3 trillion globally, will sell a 50% stake in its Indian asset-management company Pramerica Mutual Fund for an undisclosed sum to Dewan Housing Finance Co., according to three people with direct knowledge of the development.
At 10:20 a.m.; the stock was trading 2.7 per cent higher at Rs 365.55.
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