Broader markets strengthened, aiding investor sentiment, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 1.5 percent and one percent respectively.
The government is aiming to make the new simplified personal income tax regime more attractive for the salaried class, sources told CNBC-TV18.
The stock has rallied and some of the concerns around promoter group debt have yet not been addressed.
“For the bulls, 17,300 would be the important breakout level to watch and if the Nifty manages to close above the same, we could expect continuation of an uptrend wave up to 17,450-17,550 levels.
Going into the budget with low expectation is another plus, I don’t think the market is building up itself for some sort of exuberance at this point in time, which means that anything that comes through positively favorably is going to be good,” he said.
ONGC, Mahindra & Mahindra, Indian Oil, Bharti Airtel and Indian Oil were also among the top gainers.
Dalal Street began the February futures & options series on Friday, a day after the Nifty50 index ended the January series with a loss of 93.8 points or half a percent.
Punjab National Bank shares surged over 3 percent Friday after posting a 123 percent spike in net profit.
At the moment more than demand, it is the supply chain issue that has been hurting the sales of a lot of car companies and auto companies.
Torrent Pharma or, the US generic business per se is extremely unpredictable, it is an unbranded commodity market and we have always stayed away from that space, we are extremely underweight that space and it becomes very, very difficult to predict revenues or profitability of that space for any given company, let alone Torrent Pharma.
As per an exchange filing, the company’s net profit after tax was Rs 252 crore as against the net profit of Rs 248 crore for the same quarter in the previous fiscal.
The proposed Bad Bank had received all necessary approvals to start operations, said Dinesh Khara, the chairman of country’s largest lender SBI.
The share price of CE Info Systems Ltd, which operates under the brand name MapmyIndia, dropped 11.36 percent to hit a low of Rs 1,271.65 on the BSE after the firm reported lower-than-expected earnings for the December quarter.
Dr Reddy’s Laboratories shares jumped as much as 2.9 percent to Rs 4378.8 apiece on BSE after the earnings announcement, before giving up more than half of those gains.