Indian shares up 1.1 pct early; UltraTech gains
MUMBAI, Nov 16 (Reuters) - Indian shares rose 1.1 percent in early trade on Monday, led by gains in Reliance Industries (RELI.BO: Quote, Profile, Research) and Larsen & Toubro (LART.BO: Quote, Profile, Research) and tracking firmer Asian markets.
At 9:59 a.m. (0429 GMT), the 30-share BSE index .BSESN was up 1.11 percent at 17,035.18, with 27 components advancing. It rose above 17,000 for the first time since Oct. 23.
Shares in UltraTech Cement (ULTC.BO: Quote, Profile, Research) swung widely and were up 2 percent at 744 rupees after its board approved issuing four shares for every seven held in group firm Samruddhi Cement to form India's largest cement firm with capacity of 48.8 million tonnes. [ID:nSP337897
The 50-share NSE Index .NSEI was up 1.1 percent at 5,053.50. (Reporting by Ami Shah)
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