10:05 am Market Check: Equity benchmarks maintained uptrend, with the Sensex rising 177.44 points to 33,126.65 and the Nifty rallying 60.60 points to 10,227.30.

About 1,474 shares advanced against 547 declining shares on the BSE.

9:55 am Earnings Reaction: Shriram EPC share price was locked at 20 percent upper circuit at Rs 24.30 after the company turned profitable in the quarter ended September 2017.

The Shriram Group’s engineering and infrastructure company has reported a profit of Rs 2.44 crore in July-September quarter against loss of Rs 21.8 crore in year-ago. Other income and revenue boosted profitability.

Revenue during the quarter grew by 44 percent to Rs 115.30 crore, compared with Rs 80.08 crore in corresponding period last fiscal.

Other income shot up to Rs 30.63 crore in September quarter 2017, from Rs 19.43 crore in year-ago.

9:45 am Buzzing: HDFC Bank gained a percent after Credit Suisse raised the target price to Rs 2,075 from Rs 1,955. This implies an upside of 6 percent.

The global research firm expects the bank to undertake its next capital raise in FY19 and highlighted how the stock has historically performed well around capital raise.

Further, it said that the bank has CET1 at 12.2 percent, similar to the levels seen in FY15.

Credit Suisse said that if USD 3 billion is raised, then expect 4 percent dilution and increase in capital base by 20 percent. It also said that the amount was enough to support growth for next 3-4 years, if the loan growth is at 23-25 percent.

9:38 am Rupee Trade: The Indian Rupee traded higher at 64.55 against the US dollar, rising 2 paise compared with previous close.

Increased selling of the American currency by exporters and banks supported the rupee. Positive equity markets also aided sentiment.

On Thursday, the rupee had lost further ground to end at a near two-week low of 64.57 against the US currency, falling by 5 paise.

source: moneycontrol.com