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INFY - Infosys News Story

$18.16 0.3  1.6%

Last Trade - 14/05/21

Sector
Technology
Size
Large Cap
Market Cap £54.09bn
Enterprise Value £52.08bn
Revenue £9.73bn
Position in Universe 166th / 6846

Indian shares end flat as banks, pharma stocks drag

Tue 13th October, 2020 11:00am
BENGALURU, Oct 13 (Reuters) - Indian shares shed early gains
to end flat on Tuesday, as banking and pharma stocks fell, while
the country's top court adjourned a hearing on interest waivers
for loans under moratorium.
    The NSE Nifty 50 index  .NSEI  ended up 0.03% at 11,934.50,
while the S&P BSE Sensex  .BSESN  closed 0.08% higher at
40,625.51. Both indexes managed to post their ninth straight
session of gains.
    Indian banks are hoping that borrowers will not be given
further respite beyond the waiver on compound interest, which
the government has agreed to pay.  urn:newsml:reuters.com:*:nL4N2GU03G
    The Nifty Bank Index  .NSEBANK  ended 0.93% lower, with
shares of HDFC Bank Ltd  HDBK.NS  and State Bank of India
 SBI.NS  shedding 1.3% and 1.5% respectively.
    Data after market hours on Monday showed India's retail
inflation picked up to 7.34% in September, with food prices
surging ahead of the festival season, dashing hopes of more
interest rate cuts to boost the economy. 
    The Nifty IT index  .NIFTYIT  ended higher for its twelfth
straight session, adding 1.3%, led by gains in HCL Technologies
 HCLT.NS , Infosys  INFY.NS  and Tech Mahindra  TEML.NS .
    Wipro Ltd  WIPR.NS  ended 0.6% lower, just before the
company reported quarterly net profit fell to 24.66 billion
rupees ($336.58 million) from 25.53 billion rupees a year
earlier, below Street estimates of 24.94 billion rupees. 
    The company also approved a share buyback of up to 95
billion rupees.  urn:newsml:reuters.com:*:nFWN2H40BW
    The Nifty Infrastructure index  .NIFTYINFR  pared early
gains but ended 0.26% higher, a day after the government said it
would shore up investments by spending an extra 250 billion
rupees on roads, ports and defence projects.  urn:newsml:reuters.com:*:nL4N2H31ZY
    European and U.S. markets dented sentiment further,
pressured by news that U.S.-listed Johnson & Johnson  JNJ.N  was
pausing its COVID-19 vaccine candidate clinical trials because
of unexplained illness in a study participant.  MKTS/GLOB 

($1 = 73.2658 Indian rupees)

 (Reporting by Philip George in Bengaluru; Editing by
Ramakrishnan M.)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))
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