In the Sensex pack, Bajaj Finance and Bajaj Auto ended up to 6.09 per cent higher after posting strong quarterly numbers.
The BSE benchmark Sensex rose 192 points to end at 39,250 on Sunday as investors built up fresh positions in the special Muhurat trading session to mark the beginning of Hindu Samvat year 2076.
Strong gains in Vedanta Ltd, Adani Ports, Bharti Airtel and Maruti Suzuki helped the index touch record levels.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
Cairn Energy, which owns a 52.11 per cent stake in Cairn India, "has voted to accept (government) conditions", the company said.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).
The exploration company will buy back shares from January 23 and extinguish them.
Tata Motors was the biggest loser in the Sensex pack, cracking 4.56 per cent. Bajaj Finance, RIL, Yes Bank, NTPC and Tata Steel too fell up to 3.95 per cent.
The Environment and Forests Ministry was in news throughout 2010 -- be it for Vedanta Resources, Posco and Lavasa -- or for Jairam Ramesh's aggressive green activism.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Prime Minister Narendra Modi, who won a landslide election victory in May largely on a promise of economic growth, is expected to speed up divestments to bolster revenue generation.
The directions came after the Delhi government told the court that oxygen that was to come from Panipat in Haryana was not being allowed to be picked up by the local police there.
The CM also announced compensation of Rs 10 lakh each for those killed during the protest and Rs 3 lakh each for the injured, government jobs for the family members of the deceased also announced.
International investment in the domestic energy sector could get affected if the government unduly delays the deal between Cairn Energy and Vedanta Resources, says Bill Gammell, Cairn India Chairman and CEO of its British parent.
Vedanta had proposed to buy a 51 per cent stake in Cairn India for $9.6 billion in the middle of last year. The Cabinet Committee on Economic Affairs is expected to take up the issue next week.
The Securities and Exchange Board of India (Sebi) is unlikely to clear Vedanta Resources and Sesa Goa's open offer to the shareholders of Cairn India till the government approves the Cairn-Vedanta deal, according to officials familiar with the matter.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
The government has told Cairn Energy that its deal with Anil Agarwal-promoted Vedanta Resources will go through only after a formal proposal to the government is made and all clearances are obtained.
Top gainers include Yes Bank, HUL, Vedanta, NTPC, Bharti Airtel, Adani Ports, PowerGrid and Tata Motors, rising up to 5 per cent.
The $9.6-billion deal is contingent upon government nod as the deal involves change of ownership of strategic assets like the giant Rajasthan oilfields.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Villagers have been protesting against the Sterlite factory since February 12, with an effigy of Vedanta Chairman Anil Agarwal as the backdrop. More than 75 days hence, the dharna continues, the summer vacation seeing children joining the protest.
Environment struggles are now being used to create political space and new form of vote bank politics, alleges BJP activist Bhupender Yadav.
UK's Cairn Energy has informed Oil Ministry that it will comply with all contractual obligations in selling majority stake in its Indian arm and that London-listed Vedanta Resources was a fit candidate to take over operations.
Yes Bank was the top gainer in the Sensex pack, rallying 6.74 per cent, followed by TCS, Tata Motors, Bharti Airtel, M&M and RIL.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
'As of now there are no mining activities,' but 'who knows the future?'
UK's Cairn Energy Plc on Tuesday said it will seek shareholder nod for sale of majority stake in its Indian arm, Cairn India, to London-listed Vedanta Resources Plc for up to $8.48 billion on October 7.
The company sent the reminder on September 10, ONGC said in a filing to the Bombay Stock Exchange. Vedanta is offering $8.48 billion to buy up to a 51 per cent stake in Cairn India, which has 10 oil assets in the country, including the giant Rajasthan oilfield.
Yes Bank gained the most, spurting 5.94 per cent. Bajaj Finance, Hero MotoCorp, TCS, HUL, Bajaj Auto, HCL Tech, Infosys, SBI, M&M, ICICI Bank and Tata Motors rose up to 1.65 per cent.
The Sensex was mainly dragged by Reliance Industries, HDFC, HDFC Bank, ICICI Bank and SBI, which lost up to 3.35 per cent.
After one stop-work order on the Rs 54,000-crore Posco project, a four-member panel appointed by the Union ministry of environment and forests has dealt a body blow to yet another big-ticket investor in Orissa, the London-based Vedanta Resources Ltd.
The Essar group is exploring the option of an $8-billion listing on the London Stock Exchange, potentially making it the first Indian company to enter LSE since Vedanta Resources seven years ago.
'Acting for On The Quest was a very fulfilling experience,' Sandeep Hebbar tells Praveen Sundaram/ Rediff.com
Cairn, which is sitting on a cash pile of about $3 billion, in a statement said its board has approved buying 17.09 crore shares or 8.9 per cent of the total shareholding, from open market at no more than Rs 335 apiece.
Top gainers in the Sensex pack included IndusInd Bank, ITC, L&T, M&M, PowerGrid, Asian Paints and SBI, ending up to 3.79 per cent higher.
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