Sensex, Nifty Subdued After Last Week's Rally
(RTTNews) - Indian shares were subdued on Monday after rising sharply last week, buoyed by receding tensions in the Middle East and a sharp correction in global crude oil prices.
The benchmark S&P/BSE Sensex was down 240 points, or 0.3 percent, at 83,818 in early trade while the broader NSE Nifty index dipped 66 points, or 0.3 percent, to 25,570.
Bharti Airtel, Infosys, Power Grid Corp, NTPC and Kotak Mahindra Bank all fell around 1 percent while SBI and Larsen & Toubro both rose about 1 percent.
Tata Steel was little changed after receiving a Rs. 1,000-crore show cause notice from the GST audit department for irregular Input Tax Credit (ITC) claims.
Torrent Pharma was moving higher after acquiring a controlling stake in JB Chemicals. Titagarh Rail Systems jumped 1.6 percent after securing an order for the Pune Metro Rail Project.
Rail Vikas Nigam rose over 1 percent after it emerged as the lowest bidder for a Rs 213.22 crore railway electrification project in Andhra Pradesh.
Gujarat Industries Power added 1.7 percent after commissioning 105 MW of its 600 MW solar power project at the Renewable Energy Park in Khavda, Great Rann of Kutch.
ITD Cementation surged nearly 5 percent on securing an international marine contract worth around $67.4 million (approximately Rs 580 crore).
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