Sensex flirts with 20000; SBI, Axis, YES Bank most active

14:19

Moneycontrol Bureau
Live Market Commentary
02:30pm FIPB to meet to consider Tata-SA JV

The Foreign Investment Promotion Board (FIPB) will consider a proposal from Singapore Airlines to set up an airline in the country in a joint venture with the Tata Group on October 18, according to the regulator's website.

Tata and Singapore Airlines plan to form a full-service airline based in New Delhi, the companies said last month. The two will initially invest a combined USD 100 million to start the carrier, with Tata Sons owning 51 percent and Singapore Airlines the rest, reports Reuters.

Also Read - Car sales up 0.7 percent in Sept - industry body

02:19pm Equity benchmarks maintained positive trend in afternoon trade with the Sensex gaining more than 100 points supported by ITC and ICICI Bank .

The Sensex is up 112.96 points at 20008.06, and the Nifty is up 28.50 points at 5934.65.

India's largest private sector lender ICICI Bank and capital goods major L&T are the major gainers among frontliners, rising 2.7 percent each. Bharti Airtel and Jindal Steel gained more than 2 percent.

Tata Power , one of the largest private power producers, rallied 2.6 percent after its subsidiary Tata Power Renewable Energy signed share purchase agreement for acquisition of 100 percent shareholding in AES Saurashtra Windfarms in Gujarat.

State Bank of India , Axis Bank , Infosys and YES Bank are the most active shares on exchanges.

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