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Last year too, Hero had hiked about 3% stake in Ather Energy for about Rs 340 crore. The latter has raised Rs 286 crore from its founders and Stride Ventures in a mix of debt and equity funding. Ather Energy counts the likes of Tiger Global and Singaporean Sovereign Wealth Fund GIC among its investors

The Dow Jones Industrial Average rose 18.07 points, or 0.05%, at the open to 38,825.40.

Yes Securities has mentioned ​24 stocks across 8 sectors, including Hindalco, HUL, GAIL, in its conviction list, stating that the markets tend to perform well after the election results.

After remaining an underperformer in the current calendar year, Nifty IT (NSEIT) might be ready to take a U-turn, believes JM Financial, suggesting that it was time to start putting weight on the large cap stocks in this sector.

Tracking positive global cues, Nifty Bank rose 237 points to close at 49,291. The index saw some profit booking above the 49,600 level. PNB, Bank of Baroda and SBI closed with gains of 1-3%.

Sebi on Thursday came out with a framework on "financial disincentives" for stock exchanges and other market infrastructure institutions for their lapses in detecting abnormal or suspicious trading activities to safeguard the interest of retail investors.

The Nifty Auto index closed 0.47 per cent up at 24396.7.

The short-term trend of Nifty remains positive despite high volatility. On moving above the hurdle of 22,250 level recently, Nifty still has chances to move towards the next upper hurdle of 23,200 in the near term.

The Indian rupee ended weaker on Thursday, pressured by dollar demand from local importers and foreign banks even as most of its Asian peers gained.

Tech stocks led the rally with Narendra Modi set to return to power for a third straight term after two key allies pledged support to form a new government. Top Sensex gainers included Tech Mahindra, HCL Tech, SBI, NTPC, and Infosys which rose 3-4%. HUL, Asian Paints, M&M and Nestle India settled with cuts.