Air India will now be able to better utilise the aviation bilateral rights with other countries. International travelers will, therefore, be able to travel more efficiently to more locations directly, instead of travelling through another country.

“There is a gamification of speculation segment which is looking at profit less prosperity with very welcoming eye.”.

The Nifty Pharma index closed 0.69 per cent up at 14615.35.

More than the Q2 performance, however, TCS’ stock became a victim of the over-the-top expectations that investors themselves had placed on a company trading at historic one-year forward valuations. Today’s episode, therefore, marks the beginning of the emergence of first doubt in the bull market in IT stocks over the past one year.

Among the stock-specific action, GOCL Corp, Shiva Cement, Aban Offshore and Borosil Renewables hit their upper circuit. Investors booked profits in Chambal Fertilizers and Bandhan Bank, whereas TCS tanked 6 per cent after a flop show in Q2.

Analysts said the index has support at 17,840, below which some selling pressure can set in. On the upside, they see resistance at 18,000 and 18,130 levels.

The Nifty Bank index closed 1.37 per cent up at 38293.8.

Four auto companies -- namely Maruti Suzuki, Hero MotoCorp, Mahindra & Mahindra and Eicher Motors -- may report 8-45 per cent fall in September quarter profit while Tata Motors may report losses, suggests Motilal Oswal Securities.

"We have to get a 40% return on capital employed. CIM Tools is a profit making company and our idea would be to improve on that and, of course, add to the top line."

The three companies have been issued observations by the watchdog, according to the update on the processing status of draft offer documents as on October 8.