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With markets surging on Monday's trading session, some companies saw a big rise in volumes, with East India Hotels topping the volume shockers, high gain screenerwith double digit gains. IDFC Bank and BASF also dominated the top gainers on high volume. Financing firm Capital First is also trading on high volumes today. CapFirst has been a win with analysts due to what they called its "favorable loan mix". 

The Securities and Exchange Board of India (SEBI) has passed new tax rules that would provide a big boost to India's hedge fund sector. SEBI has recommended "unit-based taxation" for products classified as hedge funds, according to Bloomberg. The rule change would make hedge fund investors eligible for exemptions on capital gains, reducing both the administrative and payment burdens these funds currently work under. The rule change, hedge funds say, would bring them on par with the mutual fund industry in terms of how they are being regulated. 

Till date a tax of about a third of income from hedge fund investments - versus no levy for mutual fund picks held for at least a year - kept India's hedge fund industry extremely small compared to the overall investment economy. Under the rules SEBI is looking to change, a return of 20% from the fund amounted to less than 12% after the taxes and feeswere paid out. Hedge funds are a recent play in India, with regulators allowing these funds only since 2012. 

A large number of reports will start coming in from analysts as the results season starts to pick up. In the meantime, some reports have landed from Motilal Oswal, ICICI Securities, Nirmal Bang and more. Stock pick of the week is Titan Company, with analysts noting the healthy double digit retail growth in the company's jewellery business, despite the large base. Regulation around gold hallmarking as well as GST has helped the shift from the unorganized to the organized sector in jewellery sales, helping players like Titan.