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Sensex, Nifty Edge Lower In Early Trade

Indian shares opened on a cautious note Friday, tracking weakness in other Asian markets amid worries over new pandemic restrictions in China.

The benchmark S&P BSE Sensex dropped 111 points, or 0.2 percent, to 49,513 in early trade, while the broader NSE Nifty index was down 25 points, or 0.2 percent, at 14,565.

Hero MotoCorp rose about 2 percent after surpassing the significant milestone of 100 Million (10 Crores) units in cumulative production.

Bajaj Auto jumped 3.7 percent after it posted the highest ever profit-after-tax for a quarter.

Bandhan Bank slumped 5 percent on reporting a 13 percent fall in Q3 net profit on higher provisions.

Asian Paints rose half a percent after its quarterly profit surged 62 percent.

Jindal Steel and Power was marginally higher on posting turnaround results for the December quarter.

SBI Cards and Payments Services surged 4 percent despite reporting a 52 percent decline in Q3 net profit.

Yes Bank and HDFC Life Insurance Company were modestly higher before unveiling their quarterly earnings.

Biocon plummeted 8 percent after it reported a 17 percent fall in quarterly consolidated net profit.

Zensar Technologies climbed 2.7 percent after its quarterly net profit more than doubled.

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