Business News Live: Sensex Touches Fresh Milestone, Crosses 63.5K, Nifty Trades Above 18.8K

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At 12:43 pm IST, BSE Sensex was trading 303.68 points up at 63,403.33 and NSE Nifty was trading 84 points up at 18,842.35.

Mumbai: Bull run in Indian stock markets continues. Both Sensex and Nifty have corrected their 52-week highs to 63,583.07 and 18,887.60 respectively.

At 12:43 pm IST, BSE Sensex was trading 303.68 points up at 63,403.33 and NSE Nifty was trading 84 points up at 18,842.35.

STOCKS IN FOCUS

Zomato: Chinese e-commerce giant Alibaba’s arm Alipay Singapore sold 26.28 crore shares or 3.07 per cent stake in Alibaba at an average price of Rs 62.06 apiece for Rs 1631.4 crore.  However, Camas Investments Pte Ltd, a subsidiary of Singapore-based sovereign wealth fund Temasek, picked 9.8 crore shares in the company at an average price of Rs 62 per share.

Tata Consultancy Services: IT major TCS has bagged a six-year contract from Rail Delivery Group based in the United Kingdom to design, develop, implement, and operate UK’s rail data marketplace.

Wipro: IT major Wipro has launched Wipro Data Intelligence Suite running on Amazon Web Services (AWS). Wipro Data Intelligence Suite offers reliable and secure means to migrate from existing platforms and fragmented legacy systems to the cloud.

National Mineral Development Corporation: Public sector undertaking NMDC under the Ministry of Steel has hiked prices of iron ore and fines by Rs 300 per tonne from November 30. The price of iron ore has been hiked to Rs 4,100 from Rs 3,800 and prices of fines have been hiked to Rs 2,910 from Rs 2,610.

Punjab National Bank: State-owned lender PNB has raised lending rates by 5 bps across tenures from December 1. The overnight MCLR has been hiked from 7.40% to 7.45%, 1-month MCLR hiked from 7.45% to 7.50%, the three-month MCLR hiked from 7.55% to 7.60%, six-month MCLR hiked to 7.75% to 7.80%, 1-year MCLR goes up from 8.05% to 8.10% and 3-year MCLR goes up from 8.35% to 8.40%.