SBI, Axis Bank, UltraTech Cement, Bharti Airtel, Maruti Suzuki, HDFC and Eicher Motors were early gainers while Infosys and HUL were losers.
Drug firm Alembic Pharmaceuticals today said the US health regulator has granted fast track designation to its associate company Rhizen Pharmaceuticals SA's RP6530 (tenalisib), used in treatment of cancer.
"The US Food and Drug Administration (USFDA) has granted Fast Track Designation for RP6530 (tenalisib)...for the treatment of patients with relapsed/refractory peripheral T- cell lymphoma (PTCL)," Alembic Pharmaceuticals said in a BSE filing.
Fast track designation is awarded to drugs that treat a serious condition and fill an unmet medical need, it added.
Tata Motors today said it will increase prices of its passenger vehicles by up to Rs 25,000 from January to offset the impact of rising input costs.
"The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase," Mayank Pareek, President, Passenger Vehicle Business, Tata Motors said in a statement.
The introductory prices of the recently launched compact SUV Nexon will be ending by December 31 and this entire range will also witness a price hike from January 2018 by up to Rs 25,000, the company said.
Maruti Suzuki India share price continued its run up on first day of the week, adding another 1.4 percent gains to hit a fresh record high of Rs 9,167.70 after the global brokerage house raised target price sharply.
Morgan Stanley has retained its overweight call and raised target price to Rs 10,563 (from Rs 9,102 per share), implying 16.8 percent potential upside from Friday's closing price.
The research house said Maruti is one of the most profitable car original equipment manufacturers (OEMs) globally. End-market opportunity and superior return on capital employed justified the current valuation, it added.
"Maruti is a key beneficiary of coming turn in demand. Suzuki-Toyota alliance will help set Maruti up for electric vehicles," it said.
Equity benchmarks continued to trade higher despite profit booking at higher levels as investors await second phase of Gujarat elections (on December 14) followed by exit polls on same day and actual results (December 18).
The 30-share BSE Sensex was up 106.93 points at 33,357.23 and the 50-share NSE Nifty rose 29.50 points to 10,295.20.
The gap between advances and declines narrowed. About 1,383 shares advanced against 1,017 declining shares on the BSE, against 5:1 in early trade.
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