MARKET EYE-Indian shares edge up; HDFC rises

Wed Feb 6, 2013 2:18pm IST

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The BSE index up 0.04 percent, and the 50-share NSE
index gains 0.16 percent, rebounding modestly from a
four-week low hit on Tuesday.
* Shares in HDFC Ltd up 1.5 percent a day after the
mortgage lender cut its prime lending rate by 10 basis points
starting Wednesday, which could boost loan growth despite the
hit to margins. 
* Sugar producers gain, with Shree Renuka Sugars Ltd 
up 4.6 percent and Balrampur Chini Mills Ltd up 6.6
percent, after The Economic Times reported India's food ministry
has decided to seek Cabinet approval to lift controls on sugar. 
 
* However, NTPC Ltd shares fall 1.6 percent ahead of
the government selling a 9.5 percent stake in the state power
utility, which will help it will raise around 120 billion rupees
($2.25 billion).    

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
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