Indian Shares Likely To Open On Firm Note

(RTTNews) - Fairly strong GIFT Nifty and firm Asian markets indicate a positive start for Indian shares on Monday.

IT bellwether Infosys will be in focus after Infosys ADRs hit a 52-week high of USD 30 on Friday after rallying 40%, triggering two trading halts as extreme volatility disrupted the session.

Infosys has also announced the stock exchanges that a US court granted final approval to the McCamish settlement. The matter relates to certain class action lawsuits filed in the United States. Infosys had earlier reached an agreement in principle with the plaintiffs in lawsuits pending against Infosys McCamish Systems LLC and some of McCamish's customers.

Indraprastha Gas will be in focus after the company entered into a joint venture agreement with Hindustan Waste Treatment for setting up compressed biogas plant and biofuel projects.

Fortis Healthcare's subsidiary International Hospital has signed definitive agreements to acquire the 125-bedded People Tree Hospital in Yashwantpur, Bengaluru, via 100% acquisition of TMI Healthcare for Rs 430 crore.

Indian shares snapped a four-day losing streak on Friday thanks to easing concerns over artificial intelligence spending and valuations, as well as optimism about more monetary easing by the Federal Reserve following soft inflation data.

The benchmark BSE Sensex ended with a gain of 447.55 points or 0.53% at 84,929.36. The broader Nifty50 index of the National Stock Exchange settled at 25,966.40, gaining 150.85 points or 0.58%.

Data on infrastructure output for the month of November is due after trading hours today.

The infrastructure output in India was unchanged from the previous year in October, holding the upwardly revised 3.3% increase in the previous month. It was the first period without expansion in 14 months.