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Sensex, Nifty Edge Lower In Early Trade

Indian shares opened a tad lower on Thursday after the release of weak macro data and amid tepid cues from other Asian markets as China's Hubei province at the heart of the coronavirus outbreak reported almost 15,000 new cases, saying it has started using a broader definition to diagnose people.

The benchmark S&P BSE Sensex dropped 92 points, or 0.22 percent, to 41,473, while the broader NSE Nifty index was down 25 points, or 0.21 percent, at 12,175.

Hinduja Group flagship Ashok Leyland tumbled 3 percent as it reported a whopping 93 percent fall in its net profit for the December quarter.

State-owned NBCC also lost around 3 percent after posting a 41 percent fall in consolidated net profit for the quarter ended December.

Yes Bank shares surged 4.4 percent. The private sector lender said it has received non-binding expressions of interest from four investors.

In another development, India Ratings and Research has downgraded the bank's long-term issuer rating to 'A-' from 'A'.

Dr Reddy's Laboratories rose half a percent after it signed a pact to acquire select divisions of its branded generics businesses.

Bharti Airtel edged down slightly on fund raising reports.

TCS and Infosys rose about half a percent. India's information technology and back-office sector will likely grow by 7.7 percent in fiscal 2020, industry body Nasscom said.

IRCTC jumped over 9 percent after its Q3 profit jumped nearly three-fold.

Bajaj Auto was marginally lower after launching BS-VI compliant version of its popular motorcycle Pulsar.

Hero MotoCorp gained half a percent after it forayed into connected mobility solutions.

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