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Among the individual shares, Larsen & Toubro (L & T) shares rose 6% to 1,379 rupees per share. BSE started early in the morning after the company announced a 23% increase in its one-year consolidated net profit (RY) of 22.30 billion rupees in September (T2A19). Consolidated gross receipts for the quarter increased 21 percent to 320.81 billion rupees year-on-year. Apart from this, the YES bank also rose by more than 7% to 201.40 rupees for intra-day trade.
Among sector indices, the Nifty Metal index rose 0.5%, led by Welspun Corp. and Tata Steel. In addition, HCL Technologies and Tata Consultancy Services (TCS) weighed more than 2% on the Nifty IT index.
Investors will closely follow the evolution of the stalemate between the government and the RBI. The imminent resignation of RBI governor Urjit Patel on Wednesday morning sparked speculation. But in the afternoon, he had convened a meeting of the board of directors on November 19 to continue discussions with the government. The finance ministry also issued a statement that the central bank and the government "must be guided by the public interest and the requirements of the Indian economy".
Company Results
Approximately 150 companies, including Hindustan Petroleum Corporation, HDFC and GlaxoSmithKline Consumer Healthcare, are expected to announce their results for the September quarter later in the day.
World Markets
(with Reuters inputs)
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