MARKET EYE-Indian shares gain; banks, Bharti Airtel leads

Wed Nov 7, 2012 10:08am IST

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Stocks

   

* The BSE index up 0.55 percent and the NSE index
 gains 0.51 percent.
* Banking stocks such as ICICI Bank gain on hopes of
rising demand for loans in the holiday season.
* ICICI bank gains 1.2 percent, while the State Bank of India
 is up 1.1 percent.
* Bharti Airtel gains 0.7 percent after reporting
margins slightly better than analysts' expectations, dealers
say.
* Bharti said consolidated net profit fell 29.8 percent to 7.21
billion rupees ($132.5 million)for its fiscal second quarter
ended September from 10.27 billion rupees a year earlier.
 
* However, shares in Tata Power Co Ltd fell 1.03
percent after posting a surprise second-quarter loss on Tuesday,
hit by higher finance and depreciation costs at its power
projects and lower revenue from its coal units. 

 (abhishek.vishnoi@thomsonreuters.com)
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