HCL Technologies gained 2.5 percent ahead of board meet on January 28-30 to consider bonus issue. GAIL India surged 3 percent after the management told CNBC-TV18 that the company won’t have to pay subsidies in the second half of current financial year 2014-15.

Prabhat Awasthi, Nomura says the December 2015 Sensex target of 33,500 implies 20 percent potential upside. “Our bullish stance on the Indian market for this year is based on our high-conviction view that the improvement in India’s macro environment over the past year is durable and will improve further. The lagged effect of the much-needed complete overhaul of the political economy is a significant tailwind. The extent to which this is not yet priced in will provide upside to multiples, thus adding to market returns over and above earnings growth, in our view,” he adds.

Equity benchmarks maintained early gains with the Sensex rising 188.91 points to 28310.80 and the Nifty climbing 50.75 points to 8564.55. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 1 percent each. Nearly three shares advanced for every share declining on the Bombay Stock Exchange. Wipro surged 7 percent as the company reported stronger-than-expected results with a constant currency growth of 3.7 percent which is the highest in the last 12 quarters and better than peers. JP Morgan says attractive valuations (14.6x FY16 & 12.9x FY17 EPS) could still give more than 15 percent potential stock return over CY15. HCL Technologies gained 2.5 percent ahead of board meet on January 28-30 to consider bonus issue.

GAIL India surged 3 percent after the management told CNBC-TV18 that the company won’t have to pay subsidies in the second half of current financial year 2014-15. However, HUL declined 1.5 percent, retreating from its life-time highs ahead of its earnings today.

Coustery :  http://www.moneycontrol.com/news/local-markets/sensex-nifty-hold-early-gains-gail-rises-3-hul-falls_1277546.html