Falling global crude oil prices and ease in inflation headline number has fuelled hopes of a rate cut by RBI at its December 2 monetary policy review.
Brent crude oil prices posted its steepest one-day falls since 2011, as OPEC decided against cutting output despite a huge oversupply in world markets.
Tracking the momentum, the 50-share Nifty index rose as much as 100 points to hit its lifetime high of 8593.45, supported by gains in auto, banks, pharma, metal and oil & gas stocks.
At 10:05 a.m.; the 30-share index was at 28,739.77, up 300 points or 1.06 per cent. It touched a high of 28,765.99 and a low of 28,483.99 in trade today.
The Nifty was at 8586, up 92 points or 1.09 per cent. It touched a high of 8593.45 and a low of 8516.25 in trade today.
Here is a list of ten stocks which are in focus today:
Oil & gas stocks: Brent crude oil plunged as much as $6.50 a barrel on Thursday, and US crude dropped by nearly as much, posting their steepest one-day falls since 2011, after OPEC decided against cutting output despite a huge oversupply in world markets.
At 10:05 a.m.; HPCL was trading 10 per cent higher at Rs 603. BPCL was up 7.1 per cent to Rs 772.10.
ITC: ITC plans to invest about Rs 9,000 crore in the next three to four years to expand its hotel portfolio to 150 hotels, said Nakul Anand, executive director at the tobacco-to-hospitality conglomerate. ITC Hotels, one of the largest hotel chains in the country, currently operates 102 hotels.
At 10:05 a.m.; the stock was trading 0.8 per cent higher at Rs 363.70.
Dr Reddy's Laboratories Ltd: Drugmaker Dr Reddy's Laboratories Ltd has received a letter from the U.S. Food and Drug administration highlighting concerns about its manufacturing plant in the southern Indian state of Andhra Pradesh, the company said on Thursday.
At 10:05 a.m.; the stock was trading 0.2 per cent higher at Rs 3614.
Alstom T&D India Ltd: The company has bagged a 7-million (approx Rs 56 crore) contract to introduce the first energy management system to Sri Lanka's national grid and to monitor and control its electricity transmission network.
At 10:05 a.m.; the stock was trading 0.8 per cent higher at Rs 468.
Dalmia Bharat Ltd: Sources with direct knowledge suggest that Delhi-based Dalmia Bharat is in talks to place a bid for one or more European cement assets put on the block by Holcim and Lafarge as part of the global cement deal.
At 10:05 a.m.; the stock was trading 0.5 per cent higher at Rs 496.40.
Coal India Ltd: Coal India will soon start mining in Mozambique, which, along with the projects of the Adani group in Australia and Sanjiv Goanka in South Africa, will increase supplies of the dry fuel in India where a shortage at present is crippling power production.
At 10:05 a.m.; the stock was trading 0.3 per cent higher at Rs 350.40.
Suven Life Sciences: Sources say the company will launch the QIP within a week. The QIP will likely be Rs 192 per share which is at a 7% discount to the market price. The company is raising this capital with an aim of launching a new drug molecule. The new molecule, SUVN 502 has completed phase 1b clinical trial in the USA
At 10:05 a.m.; the stock was trading 1.1 per cent higher at Rs 205.25.
Just Dial Ltd: The Reserve Bank has allowed domestic search engine Just Dial Ltd to raise the foreign shareholding limit to a maximum of 75 per cent of its paid-up capital under the portfolio investment scheme (PIS).
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