Sensex, Nifty Modestly Higher In Early Trade

Indian shares eked out modest gains on Tuesday despite mixed cues from global markets and concerns over rising oil prices.

The benchmark S&P/BSE Sensex was up 210 points, or 0.3 percent, at 77,552 in early trade while the broader NSE Nifty index was up 59 points, or 0.3 percent, at 23,596.

Among the prominent gainers, Mahindra & Mahindra, HDFC Bank, UltraTech and Hindalco all were about 1 percent.

Tata Motors was marginally higher. Chairman N Chandrasekaran said that the proposed demerger of its existing automotive businesses into two listed entities will help enhance synergies.

Happiest Minds Technologies plunged 7.3 percent on news of stake sale by promoter Ashok Soota.

Borosil jumped 4 percent after launching a QIP issue to raise up to Rs 250 crore.

Maruti Suzuki India was slightly lower. The automobile major has received a GST demand notice of Rs 5.4 crore for the period July 2017 to March 2023.

Shree Cement gained half a percent. The company said it has achieved an installed power capacity of 1,000 MW.

RBL Bank rose about half a percent on fund raising reports.