Nifty’s 11,500 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract fell 23.33 percent to Rs 22.20. Over 2.8 lakh shares were added to the open interest which stood at over 36.76 lakh shares.

Shares of Bata India extended gains for the third consecutive trading session to hit an all-time high.

The stock traded at 50 times its estimated forward earnings per share compared to a 39.4 times for the two-year historical average, according to Bloomberg data. The scrip returned 22.3 percent so far this year and advanced 91 percent in the past 12 months.

Shares of Lupin extended declines for the second consecutive trading session and fell as much as 0.47 percent to Rs 720.30, the lowest since May 2013.

The stock declined 14.1 percent so far this year and fell 0.9 percent in the past 12 months.

Shares of the construction company fluctuated between gains and losses to trade a little changed at Rs 1,370.

The company’s construction arm secured orders across various states in India, according to its stock exchange filing. The total deals are worth about Rs 1,000-2,500 crore, the statement added.

Shares of Mahindra & Mahindra Financial Services rose as much as 1.6 percent to Rs 432.95.

The company increased its stake from 88.75 percent to 98.43 percent in Mahindra Rural Housing Finance for Rs 286.78 crore, according to its stock exchange filing.

Trading volume was almost triple its 20-day average, Bloomberg data showed. The stock traded at 14.2 times estimated forward earnings per share compared to a 16.6 times for the two-year historical average.