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Sensex, Nifty Rise As S&P Reaffirms India Rating

Indian shares opened higher on Friday after rating agency S&P Global reaffirmed India's long-term rating at 'BBB', saying it believes the country is experiencing a cyclical, rather than a structural, economic slowdown.

The benchmark S&P BSE climbed 210 points, or 0.51 percent, to 41,670, while the broader NSE Nifty index was up 60 points, or 0.49 percent, at 12,234.

BPCL advanced 1.7 percent as it reported near trebling of net profit in the December quarter.

Adani Transmission gained 1 percent on reporting a 32.53 percent rise in Q3 consolidated net profit.

Vodafone Idea shares soared 9 percent. The telecom major narrowed its quarterly net loss to Rs. 6,438.8 crore in the three months to December.

Apollo Hospitals Enterprise rose over 1 percent as it reported a 9 percent growth in standalone net profit for the third quarter ended December.

TVS Motor Company edged up slightly after it acquired additional shares in a U.S.-based information technology company.

Bharti Airtel climbed 1.2 percent after it joined hands with equipment provider Nokia to offer private LTE network solutions to enterprises.

SpiceJet rallied 1.8 percent, ONGC edged up slightly and Glenmark Pharma gained 1.3 percent ahead of their quarterly earnings results due today.

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