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Shares of the Sunil Mittal-led telecom operator rose 2.2 percent intraday to Rs 340.85, its highest since September 2018. The company reported its March quarter results on Monday.
The company’s revenue from its Indian mobile business grew at its fastest pace in three years and margin improved in a quarter when the telecom operator changed strategy to turn around its fortunes.
The stock traded over 10 times its 20-day average for this of the day, Bloomberg data showed.
Opening Bell: Sensex, Nifty Open Higher
Indian equity benchmarks opened higher, lifted by gains in Yes Bank and metal stocks.
The S&P BSE Sensex rose as much as 0.48 percent to 38,778.13 and the NSE Nifty 50 rose as much as 0.42 percent to 11,649. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.41 percent higher.
The market breadth was tilted in favour of buyers. About 925 stocks advanced and 427 shares declined on National Stock Exchange.
All sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 0.79 percent gain
Money Market Update: Rupee Opens Higher
The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.13 percent to 69.32 against the greenback.
Technicals show that the 68.35 March low is at risk of being tested today. Rupee traders will keep an eye on flows from ICICI Bank's $3 billion overseas fund raise today. Reserve Bank of India probably bought $5.3 billion of foreign currency assets in the week ended April 26, according to Bloomberg Economics’ estimates.
Shares of the Sunil Mittal-led telecom operator rose 2.2 percent intraday to Rs 340.85, its highest since September 2018. The company reported its March quarter results on Monday.
The company’s revenue from its Indian mobile business grew at its fastest pace in three years and margin improved in a quarter when the telecom operator changed strategy to turn around its fortunes.
The stock traded over 10 times its 20-day average for this of the day, Bloomberg data showed.
Opening Bell: Sensex, Nifty Open Higher
Indian equity benchmarks opened higher, lifted by gains in Yes Bank and metal stocks.
The S&P BSE Sensex rose as much as 0.48 percent to 38,778.13 and the NSE Nifty 50 rose as much as 0.42 percent to 11,649. The broader market index represented by the NSE Nifty 500 Index rose as much as 0.41 percent higher.
The market breadth was tilted in favour of buyers. About 925 stocks advanced and 427 shares declined on National Stock Exchange.
All sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 0.79 percent gain
Money Market Update: Rupee Opens Higher
The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.13 percent to 69.32 against the greenback.
Technicals show that the 68.35 March low is at risk of being tested today. Rupee traders will keep an eye on flows from ICICI Bank's $3 billion overseas fund raise today. Reserve Bank of India probably bought $5.3 billion of foreign currency assets in the week ended April 26, according to Bloomberg Economics’ estimates.
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