Sensex, Nifty Rise On Strong Earnings
(RTTNews) - Indian shares opened on a positive note Wednesday, with firm global cues and encouraging earnings updates from the likes of Tata Motors and Larsen & Toubro helping underpin investor sentiment.
The benchmark S&P BSE Sensex was up 388 points, or 0.6 percent, at 66,743 in early trade, while the broader NSE Nifty index was up 109 points, or 0.6 percent, at 19,789.
Tata Motors rallied 2.2 percent after it swung back into profit on improved JLR performance. Tata Motors DVR jumped more than 14 percent.
Larsen & Toubro soared over 4 percent as it announced a Rs. 10,000-crore share buyback at Rs. 3,000 per share.
ITC, Tata Consumer Products and Reliance Industries gained 1-2 percent.
Bajaj Finance and Axis Bank both edged up slightly ahead of their earnings results.
CEAT climbed 2.8 percent after reporting multi-fold jump in Q1 profit on higher demand and lower costs.
Can Fin Homes shares have plummeted 7.2 percent. The company said employees at its Ambala branch committed fraud to the tune of Rs 38.5 crore over a period of time.
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