Nifty consolidates around 9050; Yes Bank up 2%, oil marketing cos gain

The market witnessed some consolidation after extending its gains in the previous sessions.

The 30-share Sensex was up 92.01 points at 29259.69, while the Nifty was up 33.05 points at 9063.50.

The market breadth was narrowing as 1,641 shares had advanced against a decline of 951 shares. Around 188 shares were unchanged.

Tata Motors, GAIL, and Yes Bank were among the top gainers, while TCS, ITC and Eicher Motors were the top losers on both the indices.

Yes Bank was on the investors’ radar, following buzz of its fundraising plans. Sources told CNBC-TV18 that the bank’s qualified institutional placement (QIP) was set to open on Thursday and it planned to raise USD 600 million.

Sadbhav Infrastructure Projects added more than 12 percent intraday Thursday after it was declared lowest bidder by National Highway Authority of India (NHAI). The company has been declared lowest bidder for the project of 4-Laning of Waranga to Mahagaon (Pkg-I) section of NH-361 in the State of Maharashtra under NHDP Phase-IV. The project cost is Rs 1071 crore and construction period is 910 days from appointment date.

Hindustan Zinc rose more than 3 percent intraday as it has declared special one-time interim dividend of Rs 27.50. The company at its meeting held on March 22, has declared special one-time interim dividend of 1375 percent (Rs 27.50) on an equity share of

Rs 2, which will entail an outflow of Rs 13985 crore including dividend distribution tax (DDT). The record date for the dividend will be March 30, 2017.

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