Indian Shares Little Changed In Early Trade

(RTTNews) - Indian shares are trading flat in early trading on Tuesday, tracking firm Asian cues. The RBI is committed to reducing inflation, but it will wait for the next set of data on inflation and industrial growth before taking a call on interest rates, RBI Governor Raghuram Rajan said in an exclusive interview with ET NOW.

Trading in a narrow range, the benchmark BSE Sensex is currently up 15 points or 0.07 percent at 21,117. The broader Nifty index is at 6,294, up 10 points or 0.15 percent from its previous close.

Infosys is moving up 0.4 percent and TCS is rising 0.2 percent after drifting lower yesterday. UltraTech Cement is gaining 1.6 percent after the Competition Commission of India approved its nearly Rs 3,800-crore deal with Jaypee Cement Corporation to acquire its facilities in Gujarat.

GMR Infrastructure is climbing 2.1 percent on reports it plans to sell its entire 40 percent stake in Istanbul airport to Malaysia airports holdings for 225 million euros. Lanco Infratech is rising 2.2 percent after receiving lenders' approval to restructure debt worth more than Rs. 7,000 crore.

Alstom T&D India is rallying nearly 3 percent. Tata Housing, the real estate development subsidiary of Tata Sons, has entered into an agreement with the company to buy its manufacturing unit spread across 20 acres in Bangalore for 120 crore.

IOC is moving up 1.4 percent. An appraisal committee of the ministry of environment and forests has given its nod for the company's Rs. 4,320 crore LNG terminal project at Ennore. UPL is up 1.8 percent ahead of a board meet next week to consider a share buyback.

Reliance Communication is declining 0.2 percent. A single bench arbitral tribunal has permitted the firm controlled by billionaire Anil Ambani and its subsidiary Reliance Telecommunications to completely exit the Universal Service Obligation Fund project under which the companies were tasked with providing mobiles services in rural areas.

The Indian markets followed global stocks higher on Monday, although gains remained marginal amid selling pressure in IT stocks and due to caution ahead of the expiry of monthly derivative contracts scheduled this Thursday. The BSE Sensex and the Nifty indexes closed up 0.1 percent and 0.16 percent respectively.