Indian benchmark end higher on Monday, PM pushes for change in accounting year
Some of the key stocks that gained on Monday were GAIL, Axis Bank, Larsen and Toubro, HDFC Bank and Maruti Suzuki while Lupi, Cipla, NTPC, Wipro and ICICI Bank declined.
According to media reports, India's fourth largest software services firm HCL Technologies said on Monday that it will acquire US-based Urban Fulfillment Services (UFS), a provider of mortgage business process and fulfilment services.
Meanwhile, Prime Minister Narendra Modi has been pushing for a January-December fiscal year instead of the current practice of April-March accounting year, which was introduced about 150 years ago by the British.
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