The Indian markets rose on Friday, tracking firm global cues as Shanghai stocks continue to recover and Greece submitted a new bailout plan to international lenders on Thursday night, raising hopes a deal would be reached at a weekend summit of European leaders to rescue the country from imminent bankruptcy.
Investors also reacted favorably to media reports that negotiations on India-Mauritius double taxation avoidance agreement DTAA are in very advanced stage.
The benchmark index BSE Sensex is currently up 100 points or 0.35 percent at 27,670, while the broader Nifty index is up 30 points or 0.37 percent at 8,359.
Monnet Ispat shares are locked at the 20 percent upper circuit limit. The company has signed a non-binding agreement with JSW Energy to sell the controlling stake in its subsidiary, Monnet Power Company. JSW Energy is rallying 2 percent while Vedanta shares are moving up 1.8 percent.
Tata Consultancy Services is declining 0.4 percent. The country's largest software services exporter reported a better-than-expected quarterly net profit, while revenue fell short of expectations due to difficulties from the Japanese and Latin American markets.
Wipro is rising 1.1 percent. Its digital business unit Wipro Digital announced its intention to acquire global strategic design firm Designit for 85 million euros (about Rs 595 crore).
Maruti Suzuki India is gaining half a percent. The country's largest carmaker said its compact car Celerio has clocked sales of over 1 lakh units in the domestic market.
Cipla is adding 0.4 percent after approving divestment of its consumer healthcare business to a wholly-owned subsidiary.
Aurobindo Pharma is moving up 1.3 percent. The company has received shareholder approval for a 1:1 bonus issue.
The benchmark indexes Sensex and the Nifty fell about 0.4 percent each on Thursday even as risk sentiment improved somewhat globally.
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