Markets have recovered sharply after inflation slipped to nine month low. The annual, point-to-point inflation stood at 6.84% in the week ended Dec. 6 as against 8% in the previous week. Inflation was expected to decline to around 7.5%. Among the 30-components of the Sensex, 21 stocks are in the green and 9 stocks are in negative terrain. Infosys, Satyam, ITC and ICICI Bank were among the major gainers. On the other hand, Reliance Industries, ONGC and Tata Steel were among the major losers. At 12:23 pm (IST), the BSE 30-share Sensex was up 110 points at 9,826 and the NSE Nifty was up 34 points at 2,989. Shares of Lupin have gained by 2% to Rs565 after the company said that it settled all lawsuits that tried to block it from selling a generic version of Schering-Plough Corp.'s Clarinex allergy medicine. The scrip has touched an intra-day high of Rs585 and a low of Rs555 and has recorded volumes of over 8,000 shares on NSE. Shares of Patel Engineering have rallied by over 13% to Rs185 after the company announced that it won an order worth Rs38.6bn for an irrigation project in the state of Andhra Pradesh along with BHEL and Navyuga Construction. The scrip has touched an intra-day high of Rs192 and a low of Rs166 and has recorded volumes of over 4,00,000 shares on NSE.

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