Sensex, Nifty Little Changed In Cautious Trade
(RTTNews) - Indian shares held steady on Monday despite weak cues from global markets and concerns over the impact of rising oil prices on economic growth.
The benchmark S&P BSE Sensex was up 60 points, or 0.1 percent, at 66,068 in early trade, while the broader NSE Nifty index was little changed at 19,673.
Bajaj Finance rallied 3.4 percent after reports that it plans to raise funds to the tune of $800 million- $1 billion. Group firm Bajaj FinServ jumped 2.6 percent.
JSW Steel rose about 1 percent after its U.S. subsidiary Caretta Minerals entered into an agreement to sell its plant and equipment, property, and mineral rights to West Virginia Properties for $24 million.
Blue Star added 0.8 percent after raising Rs. 1,000 crores through a qualified institutional placement (QIP) issue.
Maruti Suzuki India and Asian Paints both rose over 1 percent.
SBI Life fell 1.5 percent to pace the decliners while Hero MotoCorp, HDFC Life, Infosys and Dr Reddy's Laboratories all fell around 1 percent.
ICICI Lombard General Insurance fell over 1 percent after appointing Sanjeev Mantri as its new MD & CEO.
Delta Corp plunged 15 percent on news the casino operator has received a notice from the government to pay a tax of Rs. 11,140 crores along with interest and penalty for the period July 2017 to March 2022.
SBI was little changed after it raised a whopping Rs. 10,000 crores through an infrastructure bond issue.
Reliance Industries edged down slightly after Reliance Retail received full subscription amount of Rs. 2,069.50 crore from global investment firm KKR.
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