Extending its gains for the second straight session,
Bajaj Auto ended the day with a gain of over 2 per cent on the bourses on Tuesday buoyed by the extension of a popular tax refund scheme offered to exporters up to September 30, 2011.
Shares of the
automaker , rose by 2.26 per cent to settle at Rs 1,372.45 on the BSE. In intra-day, the stock jumped by 2.82 per cent to touch a high of Rs 1,380.
On the NSE, the counter settled at Rs 1,376, up 2.30 per cent from the previous close. Analysts said that extension of DEPB scheme by three months led to investor's interest in the Bajaj Auto stock.
Bajaj Auto is among one of leading exporters that avail benefit under the popular Duty Entitlement Pass Book (DEPB) scheme.
The government yesterday announced extension of a popular tax neutralisation DEPB scheme up to September 30.
Meanwhile, the BSE benchmark Sensex settled the day at 18,308.66, up 42.63 points.
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