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Software services exporter Mahindra Satyam jumped 11.7 percent to 64.65 rupees after the firm reported its third quarter net profit, which more than doubled from a quarter ago.
The company also said that it put a planned merger with its parent firm, Tech Mahindra, on hold.
Shares in Tech Mahindra ended 10.6 percent higher.
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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 Coal India rose 1.8 percent on Thursday to close at 328.45 rupees.
The company, which is the world’s largest coal miner, may miss the current fiscal year’s 460.5 million tonnes production target, its technical director said on Wednesday.
The government recently raised about 152 billion rupees through the sale of some of its holding in Coal India.
Shares in Larsen & Toubro ended 1.2 percent higher at 2013.15 rupees after the firm announced a good set for Q2 numbers.
The firm topped market estimates with a 32 percent rise in profit on the back of a pickup in orders, and stood by its outlook for 20 percent revenue growth in fiscal 2011.