Shares in Reliance Communications rose 2 percent on Monday after it announced the launch of its third-generation (3G) mobile services in four cities.
The second-largest mobile operator said it would cover all its 13 zones by next March and investors hoped the new service would boost the company’s earnings potential.
Shares in Reliance Industries, India’s top listed firm, gained 4 percent on Friday, helping the benchmark Sensex post gains of more than 250 points.
RIL, which has the highest weight in the Sensex, ended with volumes of 944,021 on BSE.
Shares in oil marketing firms like BPCL and HPCL posted decent gains on Wednesday on hopes of a fuel price hike.
Oil Secretary told reporters India will soon take a decision on raising diesel prices, in an effort to lower the government’s subsidy bill and boost the financial health of oil marketing firms.
Shares in Unitech, one of India’s top listed realty firm, gained 5 percent on Tuesday even as other stocks in the realty index ended weak.
The BSE Realty index ended down nearly 1 percent, with stocks like Indiabulls Real Estate and DB Realty ending down around 5 percent.
It was not a great start to the week for banking counters, as the BSE Banking index dropped 2.3 percent on fears margins could be hit.
India’s top lender State Bank of India said it will raise deposit rates by between 50 and 150 basis points for various maturities, with effect from Dec. 7.
Shares in Indian Oil Corporation ended 10.96 percent higher on Wednesday. Its chairman said the firm aims to raise $4.4 billion in January through a FPO and that the pricing for offer was likely to be at 450 rupees apiece.
Shares were up as much as 14 percent during trade.
The Indian government is selling a 10 percent stake, while the company will offer an equal number of new shares to raise 20 billion rupees, making the sale the biggest-ever share offering in the Indian market.
The banking index ended 2.9 percent lower on reports pointing to a probe into loans issued by some financial institutions, adding to investor nervousness.
After market hours, the CBI arrested eight top officials from banks and financial firms on charges of taking bribes to grant corporate loans.
Shares in microlender SKS Microfinance rose 5.75 percent to close at 714.45 rupees on Monday.
Shares took a beating on Thursday and fell 20 percent after the lender said the new regulations could squeeze profit and revenue. However, SKS on Friday said its balance sheet was healthy.