Key benchmark indices ended near the day’s high after stellar rally on Monday, supported by positive global shares. Easing crude oil prices and strengthening rupee also boosted sentiment. IT major Infosys was the biggest contributor to index gains. The stock got a boost after encouraging Q3 numbers.
India’s industrial output (IIP) grew 1.8% in November against a contraction of 3.8% in October, according to the data released by the government.
Shares of Chinese electric-vehicle makers including Warren Buffett-backed BYD Co. jumped after the government signaled it won’t continue reducing subsidies for the industry at the same pace this year.
Miao Wei, the minister for industry and information technology, told an audience in Beijing on Saturday EV-purchase subsidies won’t be cut July 1, like they were on that date last year.
Lupin Ltd. informed the exchanges that the USFDA classified the inspection conducted at its Tarapur manufacturing (API) facility between September 16 to September 20, 2019, as Official Action Indicated (OAI).
Tata Steel’s Netherland arm announces successful refinancing of €1.75 billion of European debt.
Shares of Edelweiss Financial Services rose 6% in early trade, recovering partly from Friday’s losses. Shares of the company fell on Friday after media reports suggested the company’s involvement in the Capstone Forex-related money laundering scam.
Shares of Yes Bank fell 7% after the bank board approved raising of funds of up to Rs10,000 cr in one or more tranches through qualified institutional placement (QIP) or any other private placement of equity or debt on Friday.
Tata Power Solar Systems Limited, India’s largest solar energy company and a wholly-owned subsidiary of Tata Power, has received Letter of Award (LOA) from NTPC for a 250MW solar project under the CPSU scheme.
Asian markets traded mostly higher on Monday morning ahead of the potential signing of the U.S.-China partial trade deal due this week.
Australia stocks were lower after the close on Monday, as losses in the Energy, Healthcare and Consumer Staples sectors led shares lower. At the close in Sydney, the S&P/ASX 200 declined 0.37%.
Israel stocks were lower after the close on Sunday, as losses in the Oil & Gas, Insurance and Financials sectors led shares lower. At the close in Tel Aviv, the TA 35 declined 0.06%.
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