MARKET EYE-Indian shares up; Tata Motors gains
* The BSE index is up 0.22 percent while the NSE index is higher 0.12 percent. * Gains were in line with Asian shares that rose on Wednesday after rounds of profit taking from a sharp rally at the start of the new year subsided. * Tata Motors Ltd shares are up 3.1 percent after hitting a record high, after Credit Suisse and CLSA upgraded their ratings on the stock, citing expectations for improving sales. * Larsen & Toubro gains 0.7 percent after falling 5 percent in the previous four sessions on concerns over order cancellations and weak investment cycle. * Oil marketing companies gain on hopes of diesel price hikes. Hindustan Petroleum Corp is up 2.15 percent while Bharat Petroleum Corp rises 1.5 percent.
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Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier.. Full Article | Full Coverage