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Sensex, Nifty Modestly Higher In Early Trade

Indian shares opened higher on Monday, mirroring firm global cues as expectations grew of further stimulus by global central banks.

Closer home, finance minister Nirmala Sitharaman on Friday said her officials are in discussions with the PMO on the economy and once the talks are over, the government will figure out what remedial steps should be taken to arrest the deepening slowdown.

The benchmark S&P BSE Sensex was up 131 points or 0.35 percent at 37,481 while the broader Nifty index was up 32 points or 0.29 percent at 11,080.

Coffee Day Enterprises rallied 5 percent after disclosing its debt position at group level.

Bank of India was marginally higher. The public sector bank is expecting to recover around Rs. 2,500 crore with the resolution of about eight to 10 big NPA cases.

ONGC slid half a percent after it prepared a blueprint for doubling its oil & gas output from its domestic and overseas fields.

Cipla advanced 1.7 percent as it received shareholder nod for raising up to Rs 3,000 crore.

Lupin rose over 1 percent on receiving approval from the U.S. FDA for generic Hydrocortisone Valerate cream.

Tech Mahindra gained 0.7 percent after divesting 73.38 percent stake in its subsidiary FixStream Networks Inc

TVS Motor edged down slightly after its Singapore arm invested $3.2 million in U.S.-based Predictronics Corporation.

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