New-generation private sector lender IndusInd Bank soared 8.66% to Rs 77.80. The scrip topped the gainers in the BSE’s A group shares. The stock gained on reports that the bank is looking to acquire a bank in the next two years. IndusInd is scouting for banks with a relatively higher current account and savings accounts (CASA) ratio, the report added.

IVR-Prime Urban Developers, in which IVRCL Infrastructures and Projects hold major stake, jumped 6.78% to Rs 414.30. It was the second biggest gainer in A group. Real estate firms gained on bourses today on expectation of softer interest rates after US Federal Reserve cut the interest rates by half percentage point on Tuesday, 18 September 2007. Soft interest rates may raise demand for real estate properties.

South India based television broadcaster Sun TV Network moved up 6% to Rs 353.40 and came third among top gainers in A group. Earlier this month, Sun TV had acquired 48.9% stake in Red FM, promoted by NDTV. In return (on a swap ratio basis), the Red FM promoters had picked up 35% stake in South Asia FM, the subsidiary of the company.

ONGC’s subsidiary Mangalore Refinery and Petrochemicals escalated 5.42% to Rs 51.50. It was the fourth biggest gainer in A group. The company is reportedly foraying into retail marketing of petroleum products under the brand name HiQ. The first three retail outlets would be in Karnataka followed by fifteen such outlets in various parts of South India including Kerala.

Inorganic chemicals and fertilizers maker Tata Chemicals rose 5.42% to Rs 281.90 and came fifth among top gainers in A group. The company had raised $100 million through a private placement in the United States in August 2007, a few days before India tightened rules on foreign borrowing. The private placement was led by the Bank of America, and the proceeds would be used for purposes including acquisitions.