MUMBAI, Feb 27 - Indian shares rose nearly 2 percent on Friday, their best single-day advance in six weeks, as blue chips rallied on hopes the government would deliver a budget that increases public investment but sticks broadly to its fiscal deficit targets.
The benchmark BSE index ends up 1.65 percent and the broader NSE index closes 1.85 percent higher, their best single-day advance in six weeks, as blue chips rally on hopes the government would deliver a budget that increases public investment but sticks broadly to its fiscal deficit targets.
MUMBAI, Feb 27 - Indian shares gained 1.5 percent on Friday, heading for their best single-day advance in nearly six weeks as blue chips rallied on hopes the government would deliver a budget that increases public investment but sticks broadly to its fiscal deficit targets.
** State bank of India is up 3.3 pct, Bank of Baroda gains 5.4 pct and Oriental Bank of Commerce rises 4.9 pct ** Expectations of an intra-policy rate cut have increased after economic survey and railway budget, traders say ** India can increase public investment to drive growth without borrowing more, according to a key government report on Friday ** Also, India signals private-sector bosses could run state-owned banks ** There is also market talk that the government may open
** Barclays sets 12-month target of 10,219 for India's NSE index, previous target was set almost a year back ** Indian companies could generate double-digit returns in 2015, bank says in a report on Thursday ** Cites underlying earnings growth expectations, valuations and India's relatively better position vs other emerging markets as key reasons ** Highlights Axis Bank, Container Corp, HDFC Bank and Hindalco Industries among top picks ** Also, likes Just Dial, Lupin, Maruti Suz
** India's car solutions provider Logix Microsystems jumps 19.9 pct to daily upper limit ** Indian portfolio manager Porinju Veliyath bought 0.1 million Logix shares at 36.4 rupees a piece in block deal on Thursday - NSE data ** Logix is a much bigger and better business model, and is in more geographies than some of its peers like CarDekho.com - Porinju V. Veliyath, MD and portfolio manager at Equity Intelligence ** They are very strong in Europe and have tie-ups with many premium
** Shares in India's IFCI Ltd gain as much as 4.4 pct ** CARE Ratings have upgraded the company's debt rating to A+ from A ** Upgrade in rating was based on recent developments including operational and financial performance - IFCI (Reuters Messaging: firstname.lastname@example.org)
** Indian auto component manufacturer Bosch Ltd gains 3 pct ** Stock to be included in MSCI India and the MSCI Emerging market index after Friday's session ** Stock trades at 50.15 times of one-year forward earnings vs 24.05 times of rivals - Thomson Reuters data ** Bosch up 37.5 pct YTD vs a 5.5 pct gain in India's broader NSE index (Reuters Messaging: email@example.com)
** Shares in India's infrastructure companies gain ** GMR Infrastructure Ltd gains 1.7 percent, GVK Power & Infrastructure Ltd adds 2.3 pct ** Adani Port and Special Economic Zone Ltd rises 1.2 pct, Reliance Infrastructure Ltd gains 1 pct ** Government may give more thrust to infrastructure in federal budget due on Feb. 28, analysts say ** Measures could be announced to attract investments, revive investment cycle in infrastructure space, say some analysts (Reuters Messaging: i
** Shares surge in India's Larsen and Toubro, Tata Power, Rolta India and Bharat Electronics Ltd ** Rolta India rises over 12 pct to the highest since March 2011 ** The companies were shortlisted for a defence contract worth 500 billion rupees ** The battlefield management system contract would be one of the largest for defence equipment manufactured indigenously - Edelweiss Securities ** Action in the defence sector continues to gain momentum; opening up a sizeable opportunit
All Indian Indices
|Symb||Index||Mkt Report||Time||Last||Chg||Chg %|
|.BSESN||BSE Sensex||27 Feb 2015||29,220.12||--||--%|
|.NSEI||Nifty||6 Feb 2015||8,661.05||-50.65||-0.58%|
|.BSEOIL||BSE Oil & Gas||27 Feb 2015||9,601.92||--||--%|
|.BSEIT||BSE IT||27 Feb 2015||11,879.03||--||--%|
|.BSEMET||BSE Metals||27 Feb 2015||10,592.54||--||--%|
|.BSEFMCG||BSE FMCG||27 Feb 2015||8,572.97||--||--%|
|.BSECG||BSE Capital Goods||27 Feb 2015||17,825.10||--||--%|
|.BSEBANK||BSE Banking||27 Feb 2015||21,858.46||--||--%|
|.BSEREAL||BSE Realty||27 Feb 2015||1,838.53||--||--%|
|.BSEAUTO||BSE Auto||27 Feb 2015||19,769.71||--||--%|
|.BSEPOWER||BSE Power||27 Feb 2015||2,295.44||--||--%|
|.BSEHC||BSE Healthcare||27 Feb 2015||15,539.50||--||--%|
Nifty Most Actives
NEW DELHI - Prime Minister Narendra Modi's stomach for free-market economics faces a major test on Saturday, in a budget India's top economic advisor has warned could wreck the leader's promises of "good days" if there's no roadmap to reform.