Indian shares rose notably on Monday, as the Indian rupee extended gains for a third consecutive session amid positive Asian cues and easing risk aversion after surveys showed Greece's pro-bailout conservatives have regained an opinion-poll lead. The rupee was last trading up 32 paise at 55.05 against the greenback in early trading.
Banking, power, FMCG, metal and auto stocks are among the prominent gainers, while IT and healthcare stocks are subdued. The benchmark 30-share is currently at 16,305, up 87 points or 0.53 percent from its previous close and the broader Nifty index is up 28 points or 0.57 percent at 4,948.
Reliance Communication is rallying 2.5 percent after the telecom major posted strong quarterly earnings over the weekend. Rivals Bharti Airtel and Idea Cellular are also gaining over a percent each after the Telecom Commission asked industry regulator TRAI to analyze the impact of the proposed spectrum pricing on subscribers, industry and government revenues.
Coal India is moving up 0.9 percent ahead of its FY12 consolidated results due today. Sun TV Network is posting a modest 0.2 percent gain despite reporting a 24 percent fall in quarterly net profit.
Pratibha Industries is climbing 3.8 percent after its board approved a proposal to issue shares on a rights basis. The company also converted 16,30,435 compulsorily convertible participatory preference shares allotted to Van Dyck, Mauritius into equity shares.
Hotel Leela is climbing 4 percent after redeeming outstanding zero coupon convertible bonds worth $41.6 million. JSPL is trading flat amid reports that it has dropped its ambitious $2.1-billion investment plan in Bolivia.
Lanco Infratech is rising 1.3 percent on a ET report that the company will sell its roads business and power arm to pare debt.
by RTT Staff Writer
For comments and feedback: email@example.com