ONGC and Bharti Airtel surged 2% each to Rs 936 and Rs 850, respectively. ONGC reported a 13% decline in net profit to Rs 2,681.64 crore in the fourth-quarter of fiscal 2007 compared to a net profit of Rs 3,085.89 crore in the same period a year ago. Total income advanced nearly 10% to Rs 15,400 crore in fiscal 2007, compared to Rs 14,200 crore in the year ago period.

Bharti Airtel advance was on sustained buying after HSBC raised the price target of Bharti Airtel by 9%, and added that the company will continue to expand market share.

State run engineering large-cap BHEL gained 1.4% to Rs 1,471 as the company secured an order worth Rs 106 crore from Rashtriya Ispat Nigam. Grasim gained 1.4% each to Rs 2,496 and Tata Motors advanced over 1% to Rs 684. Satyam Computers was the only It large-cap which advanced rose 0.4% to Rs 456.

Decliners

Ranbaxy dropped 2.4% to Rs 348 as it was allegedly involved in a cartel of fixing drug prices. Profit taking weighed on cement stocks. Gujarat Ambuja Cements lost 1% to Rs 116 and ACC dipped 1.2% to Rs 846. IT stocks advanced on a weaker rupee until the last hour of trading when they declined. TCS was down 0.3% to Rs 1,122, Infosys Technologies sank 0.7% to Rs 1922, and Wipro lost 1.3% to Rs 509.