* BSE index rises to record high of 28,360.66 * NSE index marks life high of 8,489.80 * NSE bank index surges to all-time high * Expectations for more M&As boost smaller Indian banks By Abhishek Vishnoi MUMBAI, Nov 21 - Indian shares soared to record highs on Friday as lenders surged after Kotak Mahindra Bank's acquisition of ING Vysya sparked hopes for further consolidation in the sector, while expectations of more reforms ahead of the winter session of parliament
* Rupee ends at 61.7625/7725 per dlr vs 61.94/95 on Thursday
MUMBAI, Nov 21 - Indian shares soared to record highs on Friday as lenders surged after Kotak Mahindra Bank's acquisition of ING Vysya sparked hopes for further consolidation in the sector, while expectations of more reforms in the winter session of Parliament also helped.
* India's NSE index rises as much as 0.7 pct to mark record high of 8,461.65. * The BSE index also up 0.67 pct, just 0.13 pct away from record high. * Bank stocks lead gainers. Kotak Mahindra Bank's acquisition of ING Vysya Bank adds to confidence in the Indian economy and its lenders - Traders. * Kotak Mahindra Bank surges to record high after buying ING Vysya Bank in record $2.4 bln share deal. * Axis Bank rises 1.9 pct, Indusind Bank is up 2 pct, while HDFC Bank gains 0.8 pct. (abhishek.v
* Texmaco Rail & Engineering gains 2.2 pct, while Titagarh Wagons Ltd is up 4.3 pct. * The Railway Board issued orders to release 50 pct of wagon manufacturers' withheld allocation, newspaper DNA reported on Friday. (http://bit.ly/1Aqx4Fg) (firstname.lastname@example.org / email@example.com)
* Kotak Mahindra Bank surges as much as 9.3 pct to 1,264.70 rupees, its second consecutive record high. * Kotak buys ING Vysya Bank in record $2.4 bln share deal. * Acquisition of ING Vysya at a swap ratio of 0.72 times better than the 0.8 times ratio mentioned in a news channel report - Nomura says in a note. * The merger will add 10 pct to earnings and 15 pct to networth of Kotak, Nomura adds. * ING Vysya shares also gain 2.4 pct. * Combined entity's market capitalisation will be more than
* India's Kotak Mahindra Bank buys ING Vysya Bank in record $2.4 bln share deal. * Deal to raise speculation over likely mergers in the sector - Traders. * Lenders that markets see as potential acquisition candidates rise. Karnataka Bank 2.3 pct Karur Vysya Bank 2 pct City Union Bank 2 pct Lakshmi Vilas Bank 1.4 pct Dhanlaxmi Bank 4.2 pct South Indian Bank 3.4 pct * Those markets see as potential suitors also edge higher. ICICI Bank and Axis Bank up 0.2
* Yes Bank shares gain 2.5 pct. * India central bank on Thursday said restrictions placed on the purchase of its shares by foreign investors withdrawn. * RBI in September said further share purchase by foreign investors will be allowed only after obtaining its approval. (firstname.lastname@example.org / email@example.com)
* Tech Mahindra shares gain 1 pct, adding to Thursday's 3 pct rise. * Company to buy network services operator Lightbridge Communications Corp (LCC) for $240 million. * LCC acquisition is happening at reasonable valuations and will bring in market share gains for Tech Mahindra - Analysts * "There are 20 new customers that LCC brings to TECHM, which should present cross-selling opportunities," Religare said in a note. * LCC is expected to have revenues of $430 million in 2014, it added.
NEW YORK - The Dow and S&P 500 finished at record highs on Thursday as data showed further strength in the U.S. economy and Intel gave an upbeat forecast.
All Indian Indices
|Symb||Index||Mkt Report||Time||Last||Chg||Chg %|
|.BSESN||BSE Sensex||21 Nov 2014||28,334.63||+267.07||+0.95%|
|.NSEI||Nifty||21 Nov 2014||8,477.35||+75.45||+0.90%|
|.BSEOIL||BSE Oil & Gas||21 Nov 2014||10,874.65||+93.07||+0.86%|
|.BSEIT||BSE IT||21 Nov 2014||10,922.98||-78.75||-0.72%|
|.BSEMET||BSE Metals||21 Nov 2014||11,127.12||+15.26||+0.14%|
|.BSEFMCG||BSE FMCG||21 Nov 2014||7,832.83||+69.68||+0.90%|
|.BSECG||BSE Capital Goods||21 Nov 2014||16,234.17||+211.66||+1.32%|
|.BSEBANK||BSE Banking||21 Nov 2014||20,683.54||+478.83||+2.37%|
|.BSEREAL||BSE Realty||21 Nov 2014||1,625.20||+1.85||+0.11%|
|.BSEAUTO||BSE Auto||21 Nov 2014||18,925.28||+102.34||+0.54%|
|.BSEPOWER||BSE Power||21 Nov 2014||2,133.24||+4.92||+0.23%|
|.BSEHC||BSE Healthcare||21 Nov 2014||14,893.70||-49.87||-0.33%|
Nifty Most Actives
NEW DELHI - Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts.