United Bank of India gained 10 percent as media report suggested that financial services secretary says the bank is likely candidate for merger this fiscal.Prasad Koparkar, Senior Director at CRISIL Research is confident of the automotive space seeing a 15 percent growth in FY15. On the back of passenger vehicles and heavy commercial vehicles showing signs of revival, he expects auto and auto components to perform well hereon. CRISIL Research expects India Inc to report a revenue growth of 9 to 10 percent Year-on-Year in the September quarter, against 13 percent growth reported in the June quarter.

Investors lapped up huge shares of Hindalco Industries on hopes of strong numbers in second quarter after its global rival Alcoa posted better-than-expected earnings in September quarter. The stock gained as much as 6 percent intraday. Pittsburgh-based Alcoa (Aluminum Company of America), a global leader in lightweight metals technology, engineering and manufacturing, has reported a revenue of USD 6.2 billion, up 7 percent sequentially and up 8 percent from prior year period. Analysts had expected revenue of around USD 5.9 billion. Net income of the company increased 71 percent sequentially and 208 percent year-on-year to USD 370 million or USD 0.31 per share, led by strong productivity and pricing.

The GVK Hancock joint venture still needs to finalise a plan with coal rail operator Aurizon Holdings , overcome legal challenges to the project, and sign coal sales agreements before lining up financing for the huge project. “Now that we have our Environmental Authority for our Alpha Coal Project our key focus is to continue advancing the project to a point where construction can commence,” GVK Hancock said in a statement.

Bull remained in full control of Dalal Street. The Sensex shot up 306.79 points or 1.17 percent to 26553.58 and the Nifty rose 89.95 points or 1.15 percent to 7932.65 while the BSE Midcap and Smallcap indices gained 1.4 percent and 1.5 percent, respectively.

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