Market LIVE: Sensex surges 225 points, Nifty touches 12,250 mark; Ultratech cement up on Q3 results

FE Online

Market LIVE: Equity benchmarks Sensex, Nifty traded in green throughout the day after a flat opening on the week’s last trading day. Sensex finished the day trading at 41,613.19 having surged 226 points or 0.55 per cent while the Nifty reached the closing bells losing 73 points or 0.60 per cent at 12,248.25. Ultracemco finsihed the day topping the Sensex pack with 2.44 per cent of growth on the back of phenomenal Q3 numbers. The cement manufacturer posted over 90 per cent growth in profit at Rs 711.3 crore on a year-on-year basis from Rs 374.1 crore earned in the Q3 of FY 2019.

Meanwhile, the Department of Telecommunications (DoT) has decided to not to take any action against telcos that missed the deadline set for clearing the AGR dues. Reliance Jio has paid all its dues while Vodafone Idea and Airtel have deferred payment and requested the government to wait for the Supreme court verdict on pleas filed to extend the deadline or restructure the dues clearing process. Vodafone Idea has been asked by the Supre Court to pay 53,000 crore as AGR dues levied by the government and its chairman Kumar Mangalam Birla had said last month that the company will shut down if the government does not intervene.