India Hot Stocks:Rural Elec up after govt nod for FPO

The following stocks were on the move at the BSE on Wednesday.

At 10:25 a.m., the benchmark 30-share BSE index .BSESN was up 0.3 percent at 16,489.74 points.

The 50-share National Stock Exchange Index .NSEI was up 0.28 percent at 4,895.25 points.

Rural Electrification Corp (RURL.BO: Quote, Profile, Research) rose as much as 5 percent to 227.7 rupees after the company said late on Tuesday it received the federal nod for its follow-on public offer of 171.73 million shares of 10 rupees each.

Shares were up 4.89 percent at 227.5 rupees.

State-run miner NMDC (NMDC.BO: Quote, Profile, Research) extended gains and rose as much as 9.98 percent to 477 rupees on market talk that the government is planning to dilute 15 percent stake in the company, dealers said.

Shares were up 7.68 percent at 467 rupees.

Source:Reuters