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Sensex, Nifty Modestly Higher In Early Trade; Top Banks Decline On Weak Q4 Results
(RTTNews) - Indian shares were trading higher on Monday as firm cues from global markets helped offset disappointing earnings from the banking sector.
The benchmark S&P/BSE Sensex edged up by 335 points, or 0.4 percent, to 80,837 in early trade while the broader NSE Nifty index rose by 129 points, or half a percent, to 24,475.
Tata Motors jumped 1 percent after its board approved the issuance of non-convertible debentures (NCDs) worth up to Rs 500 crore.
IRCON International rallied 3.3 percent on winning a new work order worth Rs 458.14 crore from Northeastern Electric Power Corporation.
Mahindra & Mahindra was up 0.6 percent and Indian Hotels Company climbed 1.8 percent ahead of their earnings results due today.
Marico soared 5 percent as it reported 8 percent growth in Q4 profit.
Kotak Mahindra Bank plunged 5 percent on reporting a 14 percent fall in quarterly profit.
State Bank of India declined 1.6 percent after Q4 profit fell 10 percent year-on-year.
Avenue Supermart fell 2.5 percent after reporting a 2 percent fall in its quarterly net profit.
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