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INFY - Infosys News Story

$18.18 0.2  1.0%

Last Trade - 16/04/21

Sector
Technology
Size
Large Cap
Market Cap £55.75bn
Enterprise Value £53.74bn
Revenue £9.75bn
Position in Universe 163rd / 6850

Indian shares close at record highs on gains in financial, infra stocks

Tue 2nd February, 2021 10:00am
BENGALURU, Feb 2 (Reuters) - India's main stock indexes
ended at record closing highs on Tuesday, boosted by gains in
financials and infrastructure stocks, after the government
unveiled plans to hike spending to revive growth in the
country's pandemic-hit economy.
    The benchmark S&P BSE Sensex  .BSESN  closed 2.46% higher at
49,797.72, while the NSE Nifty 50 index  .NSEI  climbed 2.57% to
14,647.85.
    The benchmark index breached the 50,000-mark earlier in the
session, surging as much as 3.2% to 50,154.48. 
    In its federal budget on Monday, India boosted healthcare
spending by 135%, lifted caps on foreign investment in its vast
insurance market, and increased capital expenditure for
2021/2022 by 35%.  
    Home loan provider Housing Development Finance Corp
 HDFC.NS  pared some gains, but ended 3.1% higher after
reporting a quarterly profit that beat analyst
estimates. urn:newsml:reuters.com:*:nFWN2K801E
    India's largest private lender HDFC Bank  HDBK.NS  was the
top boost, rising 5.7% and helping the Nifty Bank index
 .NSEBANK  end the day 3.56% higher.
    Infrastructure companies gained on proposals for higher
capital expenditure in 2021/22 along with plans for a slew of
infrastructure projects.  urn:newsml:reuters.com:*:nL4N2K81BP
    The Nifty Infrastructure sub index  .NIFTYINFR  ended the
day 3.5% higher. 
    The benchmark auto index  .NIFTYAUTO  rose 4% after the
finance minister announced a new voluntary scrappage policy,
while a string of auto companies like Maruti Suzuki India
 MRTI.NS  and Tata Motors  TAMO.NS  reported higher sales for
January.  urn:newsml:reuters.com:*:nL4N2K816P
    Jaguar Land Rover parent Tata Motors  TAMO.NS  ended the day
15.2% up as the top percentage gainer.

 (Reporting by Philip George in Bengaluru; Editing by Shailesh
Kuber)
 ((P.george@thomsonreuters.com))
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