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Sensex, Nifty open higher; L&T surges post results

Sensex, Nifty open higher; L&T surges post results
The Sensex and the Nifty opened the day higher on the back of solid 6 per cent gains in L&T after the company reported better than expected results.

Other Nifty gainers included GAIL, Reliance and Sun Pharma. Shares in Infosys also rallied one per cent after reports hinted at former SAP board member Vishal Sikka may be chosen as new CEO of the company.

Shares in Mahindra and Mahindra were down marginally after the company reported a drop in number of vehicles sold for the month of May. HeroMotor Corp on the other hand was trading higher after the company sold higher number of vehicles for the month of May.

Early Nifty losers were from the banking space including the likes of ICICI Bank and Axis Bank. Mid cap stocks continued to have a good day in trade except Aurobindo Pharma which fell a huge 5 per cent in early trade.

Gainers from the mid cap space were GMR Infra, Unitech and HPCL. Realty stocks also had a good day in trade with notable gainers being Anand Raj, HDIL and Sobha Developers.

Blue Star was up more than 3 per cent after the company reported a good set of results for the quarter ending March 31, 2014.

Suzlon on the other hand was up a huge 10 per cent after the company managed to cut its losses. Meanwhile, markets in Asia were trading mostly flat in the absence of any major triggers.

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