Sensex flat; Tata Motors near record high, Federal-Mogul up 20%

Equity benchmarks remained lacklustre in noon trade with the Nifty hovering around 8950 level after investors digested likely delay in Fed rate hike.

The Sensex gained 54.62 points at 29032.64 and the Nifty was up 5.60 points at 8948.60. The broader markets also gained momentum with the BSE Midcap and Smallcap rising marginally on positive breadth.

About 1349 shares advanced against 1045 declining shares on the exchange.

Tata Motors is near to its record high of Rs 601.95 touched on January 27, 2015 and today’s intraday high is Rs 598.60. It surged 99 percent from its Budget day lows.

Shares of Federal-Mogul Goetze are locked at 20 percent upper circuit at Rs 534.10 as Billionaire Carl Icahn’s investment firm, Icahn Enterprise said it would buy the remaining 18 percent of auto parts maker Federal-Mogul Holdings Corp for USD 9.25 per share. Federal-Mogul Holdings Corp holds a little less than 75 percent stake in the Indian entity.

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