Indian Shares Open Higher In Cautious Trade
(RTTNews) - Indian shares opened on a positive note Friday despite mixed cues from global markets and escalating tensions around the Strait of Hormuz.
The benchmark BSE Sensex was up 321 points, or 0.4 percent, at 75,720 in early trade, while the broader NSE Nifty index edged up by 107 points, or half a percent, to 23,797.
Tata Motors Passenger Vehicles climbed 4.3 percent after Jaguar Land Rover said it is targeting 1.7 billion pound ($2.3 billion) in cost savings over the next two years.
United Spirits soared 5 percent on reporting a 28 percent rise in its Q4 consolidated net profit.
Adani Airport Holdings rallied 2 percent after it partnered with IHG Hotels & Resorts to introduce five new hotels in the country.
Adani Enterprises rose about half a percent and Adani Ports surged 1.8 percent in the wake of reports that U.S. authorities may soon drop fraud charges against Gautam Adani.
Apollo Tyres advanced 1.6 percent after reporting a more than three-fold jump in Q4 consolidated net profit.
State-run oil marketing companies BPCL, HPCL and IOC fell 1-2 percent despite the government hiking retail selling prices of petrol and diesel by Rs.3 in four metro cities.
Voltas declined 2.3 percent after its fourth-quarter profit halved.
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