(RTTNews) – Indian shares opened a tad higher on Tuesday, bucking the weak trend in other Asian markets.
Economic activity in the country is holding up admirably against Covid-19’s renewed onslaught but the rise in infections risks protracted restrictions and inflationary pressures, the Reserve Bank of India (RBI) said in its monthly bulletin.
The benchmark S&P BSE Sensex climbed 145 points, or 0.3 percent, to 48,531 in early trade, while the broader NSE Nifty index was up 60 points, or 0.4 percent, at 14,547.
Castrol India surged 5 percent after its quarterly profit nearly doubled on higher sales.
Mphasis edged up slightly after Blackstone Group Inc. offered to take a controlling stake in the company.
Tech Mahindra dropped half a percent after it reported a 17.4 percent sequential decline in consolidated profit for the quarter ended March 2021.
Tata Motors was moving higher despite saying it expects a temporary disruption in vehicle demand.
SBI Cards rose over 1 percent after its March quarter profit jumped to Rs 175 crore from Rs 84 crore in the same period last year.