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The Nifty rose 169.80 points, or 0.94 percent, to 18,161.75, a record closing high.
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"Earnings are supporting the market momentum. The optimism on recovery from the pandemic is key and we are looking at sector rotation."
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The scrip traded 15% up at Rs 483.90 in the early trade on Wednesday, while the benchmark BSE Sensex was up 241 points, or 0.40%, at 60,525.
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"The market momentum continues to surprise us continuously and perhaps the Nifty could touch even 20,000 at this pace by Diwali"
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Infosys, Mindtree and Wipro will announce their quarterly results today.
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The government data also showed that the Index of Industrial Production has risen 11.9% year-on-year for the month of August as against 11.5% in July.
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India's retail inflation eased again in September, government data showed on Tuesday.
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Milan Vaishnav of Gemstone Equity Research and Advisory is positive on Bank of Baroda with a target price of Rs 96
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Rahul Shah of Motilal Oswal Financial Services spoke to Money9 on what to expect from markets going forward
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Alkeon Capital and funds managed by Morgan Stanley and Goldman Sachs keen on $2.2-billion initial offer