Indian Shares Rise On Global Cues; Nifty Regains 8,800

( – Indian shares followed global markets higher on Wednesday after Greece locked in a four-month extension of its financial lifeline and Federal Reserve Chair Janet Yellen signaled that the Fed was in no hurry to raise interest rates.

The benchmark BSE Sensex is currently up 210 points or 0.72 percent at 29,213.22, while the broader CNX Nifty index is up 63 points or 0.72 percent at 8,823.

ONGC is rising 1.3 percent. The government has suspended the company’s technology and field services director Shashi Shankar for alleged irregularities in an unawarded Rs 23 crore tender.

Oil India is rallying 2.4 percent and private sector rival Reliance Industries is gaining 1.7 percent.

ABB India is adding 2.1 percent. The company said it achieved sales of a cumulative capacity of 1 GW (Gigawatts) solar inverters.

SpiceJet is climbing 4.4 percent on news it has cleared its major outstanding dues related to Income Tax (TDS) payments.

Coal India is moving up 0.4 percent. The state-owned miner has decided to withdraw from International Coal Ventures Private Limited following suggestions from its board members.

SBI is gaining 0.7 percent. The country’s largest lender took control of Kingfisher House, one of the prime real estates of the long-grounded Kingfisher Airlines, which defaulted on loans to the tune of Rs 6,800 crore from a State Bank of India-led consortium.

Jubilant Life Sciences is up nearly 3 percent. The drug maker has received Abbreviated New Drug Application final approval from the U.S. Food and Drug Administration for Irbesartan tablets and Cetirizine Hydrochloride tablets.

Asian Paints is rising 1.1 percent on reports it is ramping up production. 

Godrej Consumer Products is adding 1.4 percent. The FMCG firm has entered into an agreement with the Darling Group for increasing its shareholding in Darling South Africa and Mozambique businesses to 90 percent.

Tata Teleservices is moving up 0.6 percent. The telecom major and rival Aircel can only top up their existing holdings and can’t bid for new airwaves in the remaining service areas where they do not have spectrum, the telecom department reportedly said.

The benchmark indexes Sensex and Nifty ended a choppy session largely unchanged on Tuesday as caution set in ahead of key events this week including the expiry of F&O contracts due on Thursday and the Union Budget on Saturday, preceded by the Economic Survey on Friday and the Railway Budget on Thursday.

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