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SEBI has proposed the introduction of gold exchange in order to have better price discovery of gold.

The Nifty Bank index closed 0.3 per cent up at 38635.75.

In dollar terms, net profit was up 57.3 per cent at $54 million and revenues were up 34.1 per cent at $350.1 million. The L&T group company also announced an interim dividend of Rs 10 per equity share.

“The big are getting bigger and the strong are getting stronger, but the breadth of the market and the opportunity set are likely to remain much wider.”

A total of 1,586 shares changed hands on the counter till 01:31PM (IST)

On the technical charts, the RSI of the stock stood at 43.81.

Rakesh Jhunjhunwala’s meeting with Prime Minister Narendra Modi came in the backdrop of the impending launch of his low-cost airliner Akasa Air.

The Relative Strength Index of the stock stood at 73.93 on Wednesday.

The stock quoted a 52-week high price of Rs 1481.4 and low of Rs 680.0.

The stock got listed on August 23 at Rs 471, a 17.37 per cent discount to its issue price of Rs 570. Though the stock fully recovered, making a 52-week high of Rs 577.50 on September 9, it has been falling since then.