ICICI Bank has increased its stake in the debt-laden IVRCL Limited to 11.43% by acquiring a fresh 39.91 million shares amounting to 7.3% of the equity share capital of the company. Prior to the fresh acquisition the bank held 22.57 million equity shares or 5.03% of the total equity capital at that point of time.

The bank has acquired the shares on a cumulative basis under the terms of the Strategic Debt Restructuring(SDR) between June 25, 2015 to April 13, 2016, according to a filing issued to the BSE.

Infosys has rallied 8% to Rs 1,268, also its record high on the BSE in early morning trade after India’s second-largest information technology (IT) services firm forecast strong revenue growth of 11.5%-13.5% in consent currency (CC) in the current fiscal.

In dollar terms, the company expects revenue to grow between 11.8% and 13.8% for the fiscal year ending March 31, 2017, Infosys said in a statement.

The market on Wednesday opened on strong note building hopes for a good monsoon. The Sensex rolled up 301.24 points or 1.2% at 25446.83, and the Nifty gained 82.80 points or one per cent at 7791.75.

At 1059 hours the Sensex was up 412.63 points or 1.64% at 25,558.22. While on NSE at 1101 hours was up 125.65 points or 1.63% at 7,834.60.

The benchmark BSE Sensex rose over 57 points in early trade on buying by domestic investors and foreign funds ahead of IIP and inflation data scheduled to be released later in the day amid firm Asian cues.

Also, the NSE Nifty again crossed the 7,700—mark.

The 30—share index was 57.05 points or 0.23 per cent higher at 25,079.21 in early trade with sectoral indices led by consumer durables, oil&gas, healthcare, auto, realty and banking in the positive zone.

Domestic benchmark indices BSE Sensex and NSE Nifty plunged over 2 per cent this week despite a rate cut of 25 basis points by the Reserve Bank of India (RBI). For the week ended April 8, the 30-share index shed 595.80 points at 24,673.84, while the 50-share index lost 157.85 points at 7,555.20.

Among the 51 stocks in the Nifty pack, 34 components ended the week in red with Adani Ports falling 9.82 per cent. It was followed by Maruti Suzuki (down 7.69 per cent) and ICICI Bank (down 7.05 per cent).

The BSE Sensex and NSE Nifty slid nearly 1 per cent on Thursday as investors continued to book profit in the recent outperformers ahead of result season which is expected to remain weak. Sentiments also remained under pressure after data showed that foreign institutional investors sold shares worth Rs 493.56 crore on Wednesday. Sensex closed 215 points down at 24,685.42, while Nifty 50 settled 67.90 points down at 7,546.45.

After Tuesday’s major fall, the benchmark BSE Sensex recaptured the crucial 25,000-mark by rebounding 117 points in early trade on fresh buying by funds and retail investors in bluechips amid firm Asian cues.

The Sensex had plunged 516.06 points in yesterday’s trade after Reserve Bank cut repo rate by 25 basis points to 6.5 per cent, which was in line with market expectations. The 30-share index rebounded by 117.06 points or 0.47 per cent to 25,000.65 in early trade as realty, metal, auto and banking sector stocks led the recovery.

It’s been six months since Reserve Bank of India (RBI) governor Raghuram Rajan reduced repo rate by 50 basis points to 6.75 per cent on September 29. The consensus view now is for 25 basis points cut by the central bank in the upcoming monetary policy scheduled on April 5. The government has also recently pared small savings interest rate by up to 1.3 per cent providing cushion to the Reserve Bank for cutting the policy rate.

Repo rate is the rate at which the central bank lends money to commercial banks in the event of any shortfall of funds.

Private sector lender Yes Bank today said it has raised Rs 545 crore by issuing Basel-III complaint tier-II bonds.

"The Bank has successfully raised Rs 545 crore from Basel III compliant Tier II bonds on private placement basis. The issue was closed on March 31, 2016," Yes Bank said in a regulatory filing.

Shares of Infosys have moved higher to its record high of Rs 1,237 on the National Stock Exchange (NSE) in noon deals today ahead of theJanuary-March (Q4) quarter results next week.

The information technology (IT) company is scheduled to announce the financial results for the quarter and year ended March 31, 2016 on April 15, 2016.

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