Indian shares edge up to new 2-yr highs; oil, IT stocks gain

MUMBAI Fri Jan 4, 2013 3:38pm IST

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MUMBAI Jan 4(Reuters) - Indian shares edged higher on Friday to touch two-year highs as oil companies such as ONGC rose on hopes a proposed change in the government's pricing formulas would boost gas prices, while IT stocks rose on expectations for a better 2013.

Oil and Natural Gas Corp Ltd provisionally rose 1.3 percent, while Hindustan Petroleum Corp Ltd jumped 5 percent.

Tata Consultancy Services Ltd rose 1.4 percent.

The BSE index provisionally gained 0.02 percent, while the 50-share NSE index ended up 0.11 percent, both marking their highest closes since January 2011. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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