The development came a day after announcing that US technology investor Silver Lake will invest Rs 7,500 crore in Reliance Retail Ventures.
Bajaj Auto accelerated by 4.4 per cent to Rs 2,670.10 per unit while Hero MotoCorp gained by 3.2 per cent and Eicher Motors by 1.1 per cent.
Besides, the GDP growth has been forecast to dip to an 11-year low of 5 per cent in the current financial year, mainly due to poor performance by the manufacturing and construction sectors.
Among stocks, Zee Entertainment gained by 6.84 per cent at Rs 328 per share following reports that the parent Essel Group is planning to sell 16.5 per cent stake in the subsidiary company to financial investors. The group plans to repay loan obligations to certain lenders.
Among stocks, Bharat Petroleum Corporation gained by 5.3 per cent, Zee Entertainment by 4.8 per cent, Grasim by 3.1 per cent and Wipro by 2.9 per cent.
Hotel stocks were up after the cut in corporate taxes and rationalisation of Goods and Services Tax (GST) rates. Lemon Tree Hotels gained by 13.7 per cent