The stock traded at a P/E multiple of 64.59, while the price-to-book value ratio stood at 6.51.

HDFC Life Insurance company shed 4 per cent to 728.55, before trading at Rs 739.95.

“We have on our hands a beautiful full blown multi-year, multi-month bull market and one should hope that these times just last a little longer. ”

The S&P BSE Sensex index rose as much as 229 points to touch 58,081.12 in the first few minutes of trade, and the broader NSE Nifty50 benchmark climbed to as high as 17,311.95, up 78 points from its previous close.

Godrej Consumer Products Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 115080.83 Crore) operating in FMCG sector.

The government has sought bids for legal advisors for the second time for the public listing of Life Insurance Corporation (LIC) of India after insufficient interest was seen during the first attempt.

US West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $69.75 a barrel at 0200 GMT, while Brent crude futures fell 13 cents, or 0.2%, to $72.90 a barrel.

Sebi is pushing the housing finance firm to relook at a deal to sell a Rs 4,000-crore stake to private equity investors led by Carlyle on the grounds that valuation norms have not been followed.

Spot gold rose 0.1% to $1,811.79 per ounce by 0115 GMT, but was headed for its first weekly decline in four. US gold futures gained 0.2% to $1,814.80.

Investors shouldn’t worry about surprise losses and can keep their positions for now, as record low rates and an abundance of cash should help eke out more profit in coming quarters, Ashish Parthasarathy, treasurer at HDFC Bank Ltd., the country’s biggest lender by market value, said in an interview.