The Nifty Auto index closed 1.19 per cent up at 10572.9.

"On his appointment as Director on the Board of Bharat Heavy Electricals Limited (BHEL), Upinder Singh Matharu, 58, has assumed charge as Director (Power) of the Public Sector Engineering and Manufacturing Enterprise,” a company statement said.

Zomato is a great business and that its business expansion is underway but the valuations are unattractive, Ramesh Damani said.

A total of 309,764 shares changed hands on the counter till 11:11AM (IST).

Assam relief benefit not factored in credit costestimates; Q4 seasonally strong quarter.

“We have been liking a number of names, starting with EaseMyTrip. We also like Orient Cement given that the company over the next few years is going to bring their debt significantly down. We have been liking a number of logistics names starting with TCI Express. These are the names which we feel can potentially double. ”

The stock quoted a 52-week high price of Rs 512.05 and low of Rs 350.35.

Some options strategists say the recent gains could be fleeting and are advising clients to buy hedges against volatility, which have become cheaper in recent days as demand for portfolio protection has ebbed.

The Relative Strength Index of the stock stood at 42.26 on Wednesday.

Stock is placed above all important moving average parameters, indicating uptrend on all time frames