- Title: Indian shares rise for third day on auto boost
- Date: 11th October 2021
- Summary: MUMBAI, MAHARASHTRA, INDIA (OCTOBER 11, 2021) (ANI - NO USE INDIA) VARIOUS OF BOMBAY STOCK EXCHANGE (BSE) BUILDING VARIOUS OF PEOPLE WALKING OUTSIDE BSE TICKER (SOUNDBITE) (English) STOCK MARKET EXPERT, SUNIL SHAH, SAYING: "What we are seeing in the market is the result of V-shaped recovery of (the) economy and the confidence of investors in the Indian economy, Indian corporates and Indian capital markets, that is the reason we are seeing that more and more liquidity is coming to the market by way of direct investment and also through mutual funds which are coming out every time with a record number of fund flows." PEOPLE WALKING OUTSIDE BSE
- Embargoed: 25th October 2021 09:25
- Keywords: BSE India Maharashtra Mumbai Nifty Sensex market shares stocks
- Location: MUMBAI, MAHARASHTRA, INDIA
- City: MUMBAI, MAHARASHTRA, INDIA
- Country: India
- Topics: Asia / Pacific,Economic Events
- Reuters ID: LVA001EYPRZ9R
- Aspect Ratio: 16:9
- Story Text: Indian shares rose for a third straight session on Monday (October 11), driven by auto stocks on expectations of a sales surge ahead of the festive season, while IT firms were dragged lower by a slide in Tata Consultancy Services.
The NSE Nifty 50 index rose 0.45% to 17,974.35, hitting a record high, while the S&P BSE Sensex was up 0.34% at 60,256.42 by 0450 GMT.
On Friday, Indian shares logged their best week in over a month after the central bank kept key interest rates unchanged as expected and promised adequate liquidity to support the economic recovery.
Jaguar Land Rover (JLR) parent Tata Motors soared as much as 8.5%, its highest since January 2018, and was the top gainer on the Nifty 50 index. The stock is up roughly 23% this month, after having gained 16% in September.
The company had said https://www.bseindia.com/xml-data/corpfiling/AttachHis/735d6346-fe64-4607-a673-03ff2f700da7.pdf on Friday that JLR's global retail orders were at record levels.
Energy stocks advanced as Coal India rose 6% to be among the top gainers on the Nifty.
Reliance Industries rose 1.82% to a record high after the company said it would buy Norwegian-based solar panel maker REC Solar Holdings and an up to 40% stake in India's Sterling and Wilson Solar.
Sterling and Wilson Solar rallied 17% to its highest level in nearly two years.
The Nifty IT index was the only major sub-index trading lower, led by 6% fall in Tata Consultancy Services.
TCS on Friday posted quarterly profit that beat estimates, but analysts flagged indications of moderating deal wins and margin pressure in future quarters.
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