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Sensex, Nifty Open Higher On Firm Global Cues

Indian shares opened higher on Tuesday, tracking positive cues from global markets.

The benchmark S&P BSE Sensex was up 278 points, or half a percent, at 53,513 in early trade, while the broader NSE Nifty index was up 82 points, or half a percent, at 15,918.

Tata Motors jumped 2.2 percent. The company aims to sell around 50,000 electric vehicles in the fiscal year ending March 31, 2023, and double the figures in 2023/24 period.

Grasim, Hindalco, Power GridCorp and Bajaj FinServ climbed 1-2 percent while Britannia Industries, Hero MotoCorp and ITC fell between half a percent and 1 percent.

Tata Power advanced 1.8 percent after it signed a pact with the Tamil Nadu state government to invest around Rs 3,000 crore for setting up a greenfield 4 GW solar cell and 4 GW solar module manufacturing plant in the Tirunelveli district.

HDFC and HDFC Bank were slightly higher after their merger proposal received approval from the Reserve Bank of India.

Tata Steel added 1.2 percent after it acquired a strategic stake in Neelachal Ispat Nigam.

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