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Longer-term rates, like the 10- and 30-year Treasury yields, were less moved because they are influenced by factors that have more to do with the long-term outlook for the economy.

That gave Berkshire about 228.1 million Occidental shares, a 25.8% stake worth approximately $14.4 billion.

Estimates about how much of a "windfall" the Haslams said Berkshire would receive at their expense because of its accounting were redacted.

“Some of the IT headwinds in terms of subcontracting costs, the margins because of aggressive wage hikes, and the big time hiring that they did, are behind in terms of numbers. We should see some margin improvement, as well as when the demand comes up those things will look much better.”

From the Sensex stocks, Infosys, Tata Steel, M&M, NTPC, SBI and Wipro opened with gains, while only Asian Paints, UltraTech Cement, and HUL opened with cuts.

India VIX was up by 3.71% from 11.31 to 11.73 levels on Thursday. Volatility spiked to 12.7 zones during the day and paved the way for the bears to completely take over the market.

“The company has been reporting a good set of numbers on the industrial side since the last few quarters. However, the core decorative business, has been a little sluggish since the last two quarters. So definitely, volume growth is coming up. We will see how the second half goes for the company and the industry as well.”

Jefferies maintained a buy rating on Colgate Palmolive India and raised the target to Rs 2320 from Rs 2180 earlier.