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Benchmark indices comeback sharply after falling in previous two straight sessions, The BSE Sensex rallied 424.50 points or 1.12 percent to 38,233.41 and the Nifty50 climbed 129 points or 1.14 percent to 11,483.30.
The Nifty Midcap index also gained over a percent but the market breadth was not so great.About 1,377 shares advanced against 1,286 declining shares on the BSE.
NTPC, Reliance Industries, SBI, Vedanta and Bajaj Finance were leading gainers among Nifty50 stocks, rising 3-4 percent while Tech Mahindra, IOC, UPL, Infosys and Wipro lost 0.6-2.4 percent.
Whereas, HCC said the board of directors approved the proposal for monetisation of an identified pool of arbitration awards & claims (transaction) for which the company today signed terms.
Under the terms of the transaction, the company said it would seek to transfer the beneficial interest/rights in a portfolio of identified awards & claims of the Company (Specified Awards & Claims) for a consideration of Rs 1,750 crore to a consortium of Investors led by BlackRock (Investors).
A special purpose vehicle (SPV), to be controlled by the Investors, is being setup in this regard, it said. However, SBI Life said the board of directors declared an interim dividend of Rs 2 per share for the financial year 2018-19 on the paid-up equity share capital of the company of the nominal value of Rs 10 each.
The interim dividend for Financial Year 2018-19 will be paid to those shareholders whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares determined with reference to the record date of April 4, 2019.