At the closing bell, the BSE Sensex stood higher by 132 points, while the NSE Nifty finished up by 46 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 0.4% and 0.2% respectively. Gains were largely seen in auto, banking and oil & gas stocks.
BHEL share price surged 2.9% today after the company reported a net profit of Rs 1.09 billion for the quarter ended September 30.
Automobile stocks finished the day on a strong note with Tata Motors and Tata Motors Leading the gains. Ashok Leyland share price surged by 2.3% in today’s trade after the company posted a 71% jump in net profit at Rs 2.94 billion during the September quarter in the current financial year as against Rs 1.72 billion in the corresponding period last year.
Sentiments also remained upbeat after Ashok Leyland received approval from fair trade regulator Competition Commission of India (CCI) to buyout its Japanese partner Nissan Motors’ stake in three Joint Ventures (JVs).
In another development, Tata Motors’ subsidiary - Jaguar Land Rover (JLR) reported its best ever October retail sales of 46,325 vehicles, up 11% compared to October 2015.
Meanwhile, Tata Motors share price surged 6.5% in today’s trade.
ONGC Videsh Ltd (OVL), a subsidiary of ONGC, will provide US$ 318 million financing to help raise output at a Venezuelan oilfield after Venezuela signed a pact to supply 17,000 barrels per day of crude oil to India to clear past dues.
In another development, ONGC is reportedly seeking total pricing freedom for natural gas produced in India. According to company’s chairman, prices should be deregulated and be determined by the buyers and sellers collectively through the market forces.
ONGC share price finished the day up by 1.3% on the BSE.
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