The stake sale is part of the government's aim to raise Rs 69,500 crore ($10.52 billion) by March by selling minority stakes in government-owned companies.

Broking firm Angel Broking expects the Sensex to hit 31,500, a 16 per cent upside from the present levels with a 12-18 month horizon.

\"Despite a rise in other income and operating profit, our profit is flat because we had higher provisioning,\" Deputy Managing Director BK Batra said in Mumbai.

\"The various options include a minority stake-sale of upto 25-40% in our overseas business,\" said Amtek Auto in a BSE filing.

In a regulatory filing, the firm said it was considering various options, including a minority stake sale of up to 25-40 per cent in its overseas business.

Unless there is a convincing and compelling reason to buy a company, investors should stay away from an IPO, says experts.

The IPO closed on October 16 after three days of bidding in a price band of Rs 316-328 a piece for the shares on offer.

The Rs 1,150-crore IPO received bids for 1,93,74,885 shares against the total issue size of 2,58,14,198 shares, according to data available with the NSE till 1700 hours.

The IPO of Coffee Day Enterprises received bids for 34,24,275 shares against the total issue size of 2,58,14,198 shares on offer, receiving 13 per cent subscription, data available with the NSE till 1700 hours showed.

The operator of the popular Cafe Coffee Day (CCD) chain plans to mop up Rs 1,150 crore through the IPO, which would be the biggest in the country in nearly three years.

Metals stocks clocked smart gains in the markets today with Hindalco being the top gainer on the Sensex. The stock ended 9.64 per cent up at Rs 81.90.

Housing Development Finance Corporation (HDFC) would mop up Rs 5,000 crore through issuance of non-convertible debentures besides over Rs 5,000 crore worth warrants.

Fresh grim cues from China and lack of positive domestic triggers kept the Indian market in the negative zone on Thursday as the benchmark BSE Sensex snapped its two-session rally to fall to 25,622.17.

The central government's Make in India initiative and a spurt in interest shown by angel investors and venture capitalists to fund tech hardware start-ups might just give the much-needed boost to the industry.

The BSE banking index ended the day with 0.99 per cent gains at 21,711.73.

Banking stocks remained under pressure on Friday after the Reserve Bank of India's (RBI) stress tests surprisingly showed private banks are likely to see a significant rise in bad loans.

A day after the Reserve Bank's policy announcement, country's third-largest private sector lender Axis Bank on Wednesday announced a deposit rate cut of up to 0.20 per cent.

The S&P BSE Sensex and the NSE Nifty index on the National Stock Exchange gained 1.39 per cent and 1.34 per cent to 27,251.10 and 8,235.45, respectively.

The Group on Sunday merged its apparel businesses into a Rs 5,290 crore entity named Aditya Birla Fashion and Retail (ABFRL), which will be the largest fashion lifestyle company in the the country.

Market analysts revised their target price post Q4 numbers and looking bullish on the further movement of the shares of Axis Bank.