Markets continued to trade firm in noon trades even as profit taking in IT major Infosys shaved off some of the early gains.
At 12pm, the the S&P BSE Sensex was up 236 points at 28,096 and the Nifty50 was up 63 points at 8,655.
In the broader market, the BSE Midcap and Smallcap indices were up 0.4%-0.7% each.
Among the index heavyweights HDFC and ITC were up 1% each followed by Reliance Industries which gained 2%.
SBI was trading flat with positive bias ahead of its results later today.
Grasim pared early losses and was trading flat while Aditya Birla Nuvo was down nearly 18%. Kumar Mangalam Birla, chairman of Aditya Birla Group, on Thursday announced the merger of Aditya Birla Nuvo (ABNL) with Grasim Industries.
Auto component major Bosch was down over 2% after posting lower-than-expected June quarter earnings. The company posted a net profit of Rs 379 crore for the June quarter against expectations of Rs 383 crore.
Among other shares, shares of Mafatlal Group companies such as Mafatlal Industries, Navin Fluorine International and Nocil have rallied up to 10% in intra-day trade on the BSE on the back of heavy volumes.
Alkem Laboratories was up 2% to Rs 1,625 on BSE after the pharmaceutical company announced the successful US drug regulator inspection at its bioequivalence facility at Taloja, Maharashtra. The stock is trading at its highest level since listing in December last year.
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