The rupee has gained about 2 per cent to a 16-month high in March after PM Modi's landslide state election win, outperforming its Asian peers and all but five of the world's emerging-market currencies.
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The Union Cabinet has already given in-principle approval to the merger of BMB with State Bank of India (SBI).
ITC was the top gainer on the Nifty in morning deals, helping the index peek above its important crucial psychological level of 9,200.
Anil Agarwal, who has majority control of Hindustan Zinc Ltd through Vedanta Ltd, will make the investment via his family trust Volcan Holdings, Volcan said in a statement.
The inter-se transfers of shares have not resulted in any change in overall promoter group shareholding in Reliance Industries Ltd (RIL).
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