* NSE index up 0.45 pct, BSE index 0.56 pct higher
* SEBI settles case against SpiceJet chairman
* Tata Power, Adani Power fall as top court sets aside
By Tanvi Mehta
April 11 Indian shares rose on Tuesday after
three consecutive sessions of falls as recent decliners such as
IT stocks recovered, but overall sentiment was cautious ahead of
the start of the earnings reporting season.
Earnings are shaping as critical for investors to ascertain
whether the double-digit rise in the shares' value can be
sustained. The broader NSE index has risen about 12.7
percent so far this year, touching a record high of 9,273.90
Meanwhile, analysts expect shares to trade in a narrow
range. Infosys Ltd, the country's second-largest
software services company, is due to report results on Thursday,
unofficially kicking off the reporting season for major
"Market will remain in this range of 9,000-9,250 points on
Nifty, watching out for earnings," said Rakesh Tarway, head of
research, Reliance Securities Ltd.
The NSE index was up 0.45 percent at 9,222.7 as of 0559 GMT.
The benchmark BSE index gained as much as 0.7
percent in its biggest intraday percentage gain in over a week
and was last up 0.56 percent at 29,742.78.
The Nifty IT index was 0.64 percent higher,
recovering from a loss of 1.4 percent in the previous session.
Infosys Ltd, which had shed nearly 7 percent this
month as of Monday's close, gained as much as 1.9 percent.
Financial stocks drove the gains on the NSE index,
contributing about 17 index points. The Nifty Bank index
had gained about 18.4 percent this year as of
SpiceJet Ltd rose as much as 2.9 percent after the
country's capital markets regulator settled a case against
chairman Ajay Singh over whether he violated disclosure rules
when he bought shares from promoters in February 2015.
India's top court set aside an order by the Appellate
Tribunal For Electricity allowing compensatory tariff to Tata
Power Ltd and Adani Power Ltd, sending their
shares down 12.5 percent and 4.5 percent respectively.
(Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu