Indian shares opened higher on Tuesday, mirroring positive global cues. The benchmark 30-share BSE Sensex rose 70 points, or 0.1 percent, to 52,923, while the broader NSE Nifty index was up 31 points, or 0.2 percent, at 15,856.
Jindal Stainless rallied 2.2 percent as it returned to black in the April-June quarter and announced a Rs 2,150 crore investment plan to double the capacity of its Jajpur unit.
DLF jumped 2.7 percent. The realty firm reported a net profit of Rs 337 crore in the first quarter versus Rs 72 crore loss a year ago.
Equitas Holdings soared 7.4 percent on receiving shareholder approval for a scheme of amalgamation with Equitas Small Finance Bank.
Biocon gained 0.8 percent. Its subsidiary Biocon Biologics has tied up with a U.S. company to manufacture and commercialize an antibody treatment of COVID-19 for India and select emerging markets.
SBI Life Insurance edged up slightly despite reporting a 42.9 percent year-on-year drop in its June quarter net profit.
SBI rose 0.7 percent after announcing a major reshuffle in HR and technology divisions.
Axis Bank fell 1.3 percent on reporting lower growth in net interest income during the first quarter ended June.
Tata Motors was little changed. The company’s consolidated net losses for the June quarter narrowed year-on-year as well as quarter-on- quarter, but lagged Street estimates.
Larsen & Toubro was marginally higher. The company’s net profit and operating income missed consensus estimates, but revenue matched expectations.
HUDCO dropped 2.4 percent on stake sale news.
Alembic Pharmaceuticals slumped 5.7 percent on reporting a 45 percent fall in quarterly consolidated net profit.
Sensex, Nifty Modestly Higher In Early Trade
2021-07-27 04:28:22
