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Business News/ Markets / Live Blog/ Sensex surges over 350 points, Nifty ends above 11,050

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Sensex surges over 350 points, Nifty ends above 11,050

1 min read . Updated: 06 Feb 2019, 03:41 PM IST

Staff Writer

Heavyweights RIL and TCS lead the markets higher
Other top gainers include Tata Steel, Bajaj Finance, ONGC and ICICI Bank

Indian markets ended on strong note today, led by heavyweights such as TCS and RIL. Sensex ended 358 points higher at 36,975 while Nifty settled at 11,062, up 1.2%. Tech Mahindra, which surged 8% today, lead gains in IT stocks, while investors also await the outcome of a three-day RBI policy meeting that ends tomorrow. Heavyweights RIL and TCS rose nearly 1.5% each while while other top gainers included Tata Steel, Bajaj Finance, ONGC and ICICI Bank.

06 Feb 2019, 03:04:39 PM IST

Lupin shares down over 1%

Drugmaker Lupin posted a surprise third-quarter loss today, due to a one-off charge in the quarter. The company reported a net loss of ₹152 crore while it reported a one-time charge of ₹342 crore in the quarter.

06 Feb 2019, 02:57:05 PM IST

Strides Pharma Science shares down over 2%

Strides Pharma Science today said it has received the Establishment Inspection Report (EIR) from the US health regulator for its formulations facility in Bangalore. USFDA gives EIR on closure of inspection of an establishment that is the subject of an FDA or FDA-contracted inspection.

06 Feb 2019, 12:05:27 PM IST

Brokerages revise Tech Mahindra target price higher

Tech Mahindra held on its gains in noon trade, with shares up around 6%. Many brokerages have revised their target price higher, after the tech company posted strong Q3 performance. Edelweiss has revised target price higher on Tech Mahindra to ₹1,002, from ₹970 earlier. For JM Financial, Tech Mahindra remains the preferred pick in the tech sector. The brokerage has revised target price of the stock higher to ₹960 to ₹920.

06 Feb 2019, 10:48:24 AM IST

Trump speaks on China trade talks in State of Union address

President Donald Trump in his State of the Union address said a trade deal with China will have to address not only what he called the chronic U.S. trade deficit but also changes in Chinese policies to protect American workers and businesses. (Read more)

06 Feb 2019, 10:06:17 AM IST

HPCL shares higher on earnings boost

Hindustan Petroleum Corp Ltd or HPCL rose 2% to ₹229.65 after the company reported unexpected profit for December quarter despite higher crude oil prices. The company reported net profit of ₹247.55 crore in the quarter against ₹1,949.69 crore a year ago.

06 Feb 2019, 10:04:09 AM IST

Rupee flat against US dollar

Rupee was trading little changed against US dollar today as many Asian markets remained shut for the Lunar New Year. The rupee was trading at 71.54 a dollar, higher than its previous close of 71.57. The home currency opened at 71.55 a dollar.

06 Feb 2019, 09:51:31 AM IST

Tech Mahindra surges 5%

Tech Mahindra Ltd rose 5% to ₹783 after the company on Tuesday posted a 27.5% increase in consolidated profit after tax (PAT) to ₹1,203 crore in the December 2018 quarter. Revenue from operations increased 15% to ₹8,944 crore, against ₹7,776 crore in the year-ago quarter. (Read: Tech Mahindra’s impressive Q3 to add heft to its valuations)

06 Feb 2019, 09:14:42 AM IST

Tokyo stocks open higher helped by rallies in US

Tokyo stocks opened higher on Wednesday helped by a cheaper yen and rallies on Wall Street, but investors remained cautious ahead of the US State of the Union address.

The benchmark Nikkei 225 index was up 0.39 percent or 82.24 points at 20,926.69 while the broader Topix index edged up 0.28 percent or 4.47 points to 1,587.35.

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