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$18.16 0.3  1.6%

Last Trade - 14/05/21

Large Cap
Market Cap £54.21bn
Enterprise Value £52.20bn
Revenue £9.73bn
Position in Universe 163rd / 6849

Indian shares rise on gains in Reliance, Titan; TCS buyback plan awaited

Wed 7th October, 2020 6:47am
By Philip  George
    BENGALURU, Oct 7 (Reuters) - Indian shares rose on Wednesday
as Reliance Industries gained after securing a $750 million
investment in its retail arm and Titan Company rose after
flagging a strong recovery at its jewellery division in the
second quarter.
    The NSE Nifty 50 index  .NSEI  rose 0.53% to 11,724.35 as of
0436 GMT, while the S&P BSE Sensex  .BSESN  was up 0.68% to
    Shares of Reliance Industries  RELI.NS  rose as much as 4.5%
to 2,309 rupees after it said on Tuesday Abu Dhabi Investment
Authority would invest 55.13 billion Indian rupees in its retail
    Titan Company  TITN.NS  said its jewellery division saw a
quarterly recovery rate of 98% while it continued to sell excess
gold in its inventory, sending its shares up to their highest in
seven months and making it the top gainer on the Nifty 50.*:nFWN2GX0XW 
    "Markets have been gaining on the back of quarterly
commentary coming from companies and then a big support to the
market has been Reliance," said Siddhartha Khemka, head of
retail research at Motilal Oswal. 
    Meanwhile, the Trump administration announced a rule that
may curb U.S. companies' use of skilled foreign workers by
narrowing the definition of "specialty occupations" eligible for
H-1B visas and require companies to pay higher wages to those
enrolled in the visa program.*:nL1N2GX1E0
    The Nifty IT index was trading 0.14% lower, with Infosys
 INFY.NS  down 0.8% and Wipro  WIPR.NS  0.6%. 
    Shares of Tata Consultancy Services  TCS.NS , however, rose
as much as 1.8% to a record high ahead of its quarterly results,
with the top IT services exporter expected to lay out a
highly-anticipated share buyback.
    Shares of gas producers Oil and Natural Gas Corp  ONGC.NS 
and Oil India  OILI.NS  rose 3.5% and 2.4%, respectively, after
TV channel CNBC Awaaz reported the government may consider a
proposal to end price controls over locally produced gas.*:nL4N2GY113

 (Reporting by Philip George in Bengaluru; Editing by Rashmi
Aich and Arun Koyyur)
 ((; +91 8061822657; Reuters
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