HDFC Bank, India’s No 2 private sector lender surged on Monday after it
reported on Saturday that quarterly profit had risen by a third.

HDFC Bank rose as much as 2.8 percent, racing to an all-time high of
1,997.85 rupees, before closing 2.3 percent higher at 1990 rupees.

Shares in JP Associates ended 6.2 percent higher at 159 rupees with volumes of 2.7 million.

The stock was the top performer of the day and also among the top traded counters.

Shares in Reliance Industries ended 2 percent higher on Thursday at 1075 rupees on reports that it would buy along with Atlas more Marcellus acreage.

Independent oil and gas company Atlas Energy Inc said it would buy 42,344 acres in the gas-rich Marcellus shale along with Reliance, weeks after the two announced a joint venture.

Shares in Unitech, India’s second-largest listed real estate firm rose on Wednesday after it announced the demerger of its infrastructure operations, including the telecom business, into a new entity to unlock the value of none-core businesses.

The stock ended 2.4 percent higher at 85.55 rupees and was among the top traded stocks of the day with volumes of over 15 million shares.

The BSE Banking Index closed 0.34 percent lower on Monday in a broader market that closed 1.08 percent down at 17,400 points.

Top lenders State Bank of India and ICICI Bank fell 0.7 percent and 0.2 percent respectively, a day ahead of the Reserve Bank of India (RBI) policy review.

Shares in Goenka Diamond listed on Friday at a discount of nearly four percent on the BSE and over 8 percent on the NSE from its issue price of 130 rupees.

The stock ended 5.3 percent lower after plunging nearly 32 percent from its issue price to 92.35 rupees in intra-day trade, with volumes of over 30 million shares.

Shares in Zee News rose over 30 percent in intra-day trade before closing 27 percent higher at 18.25 rupees after it demerged its General Entertainment Channel business.

Zee News has approved the scheme of arrangement between the company, Zee Entertainment Enterprises and their respective shareholders and creditors, for demerger of the Regional General Entertainment Channel Business undertaking of the company.

The BSE IT Index ended 3.09 percent higher on Tuesday, mainly led by IT bellwether Infosys Technologies which rose 3.6 pct.

The main index however closed 0.17 percent lower, weighed down by weakness in global markets.

The BSE IT Index continued its downtrend from yesterdays trade and ended nearly 1 percent lower on Tuesday.

Outsourcers that get most of their revenue from exports were weighed down by the rupee that strengthened to 19-month-high against the dollar on Monday and looked to climb further, which could squeeze profit margins of the companies.

Shares of Bharti Airtel closed 0.3 percent up on Wednesday in a broader market that ended 0.4 percent higher.

The telecom major hit an intra-day high of over 2 percent before closing.
Bharti Airtel needs to work on getting regulatory clearances for its $9 billion deal to buy 15 African operations of Kuwaiti telecom Zain, and turning around the loss-making assets would be its priority.