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The company had earlier announced a bonus issue to investors in the proportion of 6:1, which means, for every one share held, investors will get an additional six shares.

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The index made a strong bullish candle on daily charts as it rose 1,617 points or 3.6% to close at 46,431. It hit an intraday record high of 46,484. The Nifty50 index rose more than 400 points to close at 20,686. Nifty Bank has risen more than 6% in a week as well as more than 8% in a month.

Gold prices on Monday increased Rs 450 to hit a fresh record high of Rs 64,300 per 10 grams in the national capital amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 63,850 per 10 grams.

While the dollar index fell 3% in November amid a slump in U.S. yields, the rupee stayed on the sidelines and ended the month slightly weaker even as Asian currencies rallied.

Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold.

All the sectoral indices recorded gains with oil and gas surging the highest 3.77 per cent followed by Bankex rising to 3.56 per cent. While the power sector index went up 2.99 per cent, financial services advanced 2.98 per cent and utilities jumped 2.94 per cent.

“The huge opening upside gap of Monday remains unfilled. Technically, this pattern indicates strong upside momentum and a decisive upside breakout of the previous top at 20200 levels,” said Nagaraj Shetti, technical research analyst, HDFC Securities.

“What we are expecting here is that the fear of missing out (FOMO) could take the markets even higher and we are expecting 21,000 to be tested anytime soon in December. My reading is the market may not give us that opportunity for a dip. A small dip may be possible but a big dip will be latched upon quickly by the money that is waiting on the sidelines. ”