Sterlite Industries India rose 12.88% to Rs 231 on recent reports the company is still eyeing Asarco, which operates three copper mines in Arizona, but an agreement could only be reached at a substantially reduced price. Sterlite originally offered $2.6 billion to buy Asarco but withdrew from the deal in October 2008 because of falling metals prices.
IVRCL Infrastructures & Projects jumped 10.1% to Rs 136.30 as good order flow gave strong revenue visibility. It was the second biggest gainer in 'A' group. The company said on Monday, 24 November 2008 that its water and power divisions have bagged orders aggregating Rs 529.79 crore.
ICICI Bank gained 9.55% to Rs 350.50 on hopes the Reserve Bank of India could follow suit after China's steep rate cut. It was the third biggest gainer in A group. China's central bank today, 26 November 2008, cut banks' benchmark lending and deposit rates by 1.08% for the fourth time since mid-September 2008. The cut in the lending rate was the biggest since October 1997.
The steep rate cut by China raised expectations of a coordinated action by other central banks by way of rate cuts to counter the downside risks to the global economy.Deccan Chronicle Holdings rose 9.03% to Rs 45.30. It was the fourth biggest gainer in A group.HDFC Bank added 8.63% to Rs 907.20 on rate cut hopes. It was the fifth biggest gainer in A group.
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