Indian Shares Open Higher On US Trade Deal Optimism
(RTTNews) - Indian shares opened higher on Monday as investors parsed the details of the interim trade agreement disclosed by the U.S. and India through a joint statement.
The benchmark BSE Sensex was up 378 points, or half a percent, at 83,958 in early trade, while the broader NSE Nifty index rose by 120 points, or half a percent, to 25,814.
State Bank of India jumped 5.7 percent on reporting a 24 percent year-on-year increase in its standalone net profit for the third quarter ended December.
BEML rallied 3.5 percent after its board approved an investment of around Rs. 1,500 crore for a greenfield rail manufacturing plant in Umariya, Madhya Pradesh.
Tata Steel advanced 1 percent after Q3 net profit surged 723 percent.
Force Motors climbed 2.3 percent after signing a pact to acquire a 100 percent stake in Veera Tanneries for Rs. 175 crore.
Kalyan Jewellers soared almost 10 percent on reporting a 90 percent jump in quarterly profit.
Zydus Lifesciences edged up slightly, Bajaj Electricals gained 1.7 percent and Bata India added 1.6 percent ahead of their Q3 earnings results due today.
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