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Markets open higher; Tata Motors surges
Markets opened the day higher on the back of strong gains across the globe, after the US Dow Jones hit another record level.
The Sensex was trading higher by 100 points and the Nifty gained 24 points in trade. Among the eraly gainers was Tata Motores which surged following good numbers reported by Jaguar Land Rover. The stock was up more then 3.7 per cent in trade. Nifty heavyweight, ICICI Bank also surged more then 2 per cent folloiwng buying in the stock by institutions.
Software major Infosys was also up 1.81 per cent ahead of its results to be declared on Thursday. The stock was last trading at Rs 2866.
Tata Steel was trading higher after the firm said it will merge wholly-owned subsidiary companies Tata Metaliks Ltd and Tata Metaliks Kubota Pipes Ltd (TMKPL) with itself through a scheme of amalgamation.
Kingfisher Airlines Ltd was up after the company sought regulatory approvals to relaunch its operations and submitted plans to the DGCA on infusion of funds and revival of its flights.
Mahindra Holidays was up after the Mahindra group firm said its board has finalised the price of Rs 255 per scrip for the issue of shares to qualified institutional buyers.
Among the top Nifty losers in trade were Bharti Airtel, Mahindra and Mahindra, HDFC, ONGC and Reliance Infra.
The realty index was trading higher following gains in DLF, Unitech and Sobha Developers. Meanwhile, markets in Asia were trading higher led by gains in the Japanese Nikkei and the Taiwan index.
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