The partially convertible rupee at 62.17/18 per dollar, sharply stronger than its close of 62.4950/5050 on Tuesday on the back of bunched-up dollar inflows as markets re-open after a five-day holiday. Gains in most other Asian units on the back of weak U.S. jobs data also aid sentiment.
INDIAN STOCK MARKET
• The benchmark BSE index up 0.07 percent.
• NSE index higher 0.03 percent.
• Sun Pharmaceutical surged 5.6 percent.
• Ranbaxy Laboratories rose 5.6 percent.
• Bank Nifty Index adding 2.3 percent.
• India's one-day cash rate at 7.45/7.50 percent.
MARKET HIGHLIGHTS
TVS Motors Ltd: TVS group, the $5billion diversified industrial conglomerate consisting of India's third largest two-wheeler maker TVS Motors, is in talks with the Andhra Pradesh government to set up one of its largest forging units close to Krishnapatnam port on the state's southern coast.
Dr Reddy's Laboratories Ltd: India's second largest drug maker by sales, on Wednesday said it is entering into a definitive agreement to acquire a select portfolio of Belgium-based pharmaceutical firm UCB in India for Rs 800 crore.
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