Sensex, Nifty Little Changed; Metal Stocks Surge On China Stimulus Hopes
(RTTNews) - Indian shares struggled for direction in early trade on Wednesday despite positive global cues.
The benchmark S&P BSE Sensex was down 58 points at 63,084, giving up earlier gains. The broader NSE Nifty index was down 2 points at 18,714.
Metal stocks traded higher, with Tata Steel, JSW Steel and Hindalco climbing 1-3 percent on China stimulus hopes.
Maruti Suzuki India was marginally higher on reports that it would unveil the new MPV in July 2023.
TCS slipped half a percent after reports of mass resignation of female employees at the company because of return-to-office policy.
Adani Group stocks were seeing modest gains on reports that the Group is in talks with lenders to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements Ltd last year.
Ramkrishna Forgings advanced 1.7 percent on bagging an order worth 4.5 million euros from a European railway passenger coach manufacturer.
Vodafone Idea jumped 4 percent on news that it plans to infuse a total equity of Rs. 14,000 crore in the near term as part of its business revival plan.
Tata Chemicals fell 1.4 percent on reports it has slashed the price of soda ash by Rs 2,300 per ton.
Anupam Rasayan rallied 2.5 percent after it signed a Letter of Intent worth $265 million (Rs 2,186 crore) for the next 5 years with a Japanese company.
KEC International soared nearly 5 percent after the company said it has secured new orders of Rs 1,373 crore across its various businesses.
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