(RTTNews) – Indian shares opened higher on Wednesday, with banks, automakers and IT companies pacing the gainers.
The benchmark S&P BSE Sensex rose 330 points, or 0.7 percent, to 49,274 in early trade, while the broader NSE Nifty index was up 92 points, or 0.6 percent, at 14,744.
Bajaj Finance climbed 3.1 percent and Bajaj FinServ advanced 2.2 percent. Non-banking financial companies (NBFCs) have asked the RBI to allow a fresh round of loan restructuring for businesses and consumers undergoing stress.
TVS Motor Company soared 11 percent after reporting a four-fold increase in Q4 profit.
Axis Bank was marginally lower. The private sector bank beat Street estimates to post its highest-ever quarterly standalone net profit in the March quarter on the back of lower provisioning.
Info Edge shares jumped 2.4 percent. The company said it will sell stake worth Rs 750 crore in the initial public offering (IPO) of its investee company Zomato.
ABB India gained 1.4 percent after its quarterly profit jumped more than two-fold.
United Breweries added 1.6 percent after it posted over two-fold jump in Q4 profit.
Britannia Industries lost nearly 2 percent on reporting a 3 percent fall in March quarter profit.