Shares in Reliance Communications closed 2.2 percent higher on report that Emirates Telecommunications (Etisalat) is close to buying 26 percent in the firm.
The stock was among the top Sensex gainers with volumes of over 1.8 million shares on the BSE.
Shares of Technofab Engineering debuted on the BSE on Friday at 272 rupees, up 13.33 percent versus its issue price of 240 rupees.
Within minutes, the scrip touched a high of Rs 297, up 12 per cent from its opening price. The stock ended 23 percent higher from its issue price at 295.65 rupees with volumes of 9.4 million shares.
Shares in drugmaker Piramal Healthcare Ltd gained after the company said it will sell its diagnostic services unit to Super Religare Laboratories Ltd (SRL) for 6 billion rupees to focus on fewer and larger businesses left in its basket.
Piramal Healthcare had risen more than 2 percent in early trade on Wednesday but pared gains to close nearly 1 percent lower.
The BSE IT Index ended 2.68 percent lower on Tuesday weighed down by Infosys Technologies’ surprise 2.6 percent drop in April-June profit.
The country’s No. 2 outsourcer said before market hours its sales contribution from Europe fell to about 20 percent from nearly 25 percent a year ago and 23 percent in January-March.
Shares in Infosys, India’s second-largest software exporter, rose as much as 1.4 percent to a 52-week high of 2,911.55 rupees, on expectations it would raise its dollar revenue forecast for the full year when it unveils results on Tuesday.
The scrip pared morning gains to close 0.8 percent higher at 2894 rupees with volumes of 0.1 million shares.
Parabolic Drugs Ltd debuted on the BSE marginally above its issue price of 75 rupees on Thursday but later fell more than 14 percent in intra-day trade.
Shares in the counter ended 13.6 percent lower at 64.80 rupees with volumes of 7.8 million shares.
The BSE Oil & Gas sector ended 2.2 percent higher on Monday, the first full day of trade after the government raised fuel prices as part of a plan to move towards a market-determined price regime.
The government freed up state-subsidised petrol prices and raised the prices of other fuels as pressure to trim a budget deficit seemed to outweigh concerns about its political impact.
Shares in Reliance Natural hit an intra-day high of over 6 percent on Friday after chairman Anil Ambani signed a revised gas supply agreement with brother Mukesh’s Reliance Industries.
The counter, which had opened lower, trimmed gains made after the announcement and closed 3.2 percent up at 65.95 rupees. Shares in Reliance Industries closed 1.1 percent higher.