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Sensex, Nifty Stuck In A Narrow Range

Indian shares were fluctuating in a narrow range in early trade Wednesday, tracking mixed global cues and ahead of key corporate earnings slated to be released later in the day.

The benchmark S&P BSE Sensex was up 27 points or 0.07 percent at 39,158 while the broader Nifty index was up 10 points at 11,673.

Cox & Kings slumped 5 percent after defaulting on its repayment obligations for the 4th time in 3 weeks.

Likewise, Suzlon Energy dropped 2.2 percent after defaulting on bond payments worth $172 million.

Wipro edged up slightly. The IT major will continually transform to scale new heights while remaining firmly committed to its values, Azim Premji, who will retire as the company's head this month, said.

Federal Bank fell over 2 percent despite reporting a 46 percent jump in Q1 profit.

Dewan Housing Finance rallied 3.7 percent on reports that lenders to the company are ready to accept limited haircuts in a restructuring plan.

HDFC Asset Management Company jumped 4.6 percent after clocking 42.15 percent year-on-year growth in Q1 net profit.

Adani Ports and Special Economic Zone gained half a percent after it has begun a tender offer to buy back bonds worth $650 million due next year.

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