January 4, 2018 / 6:33 AM / 15 days ago

Indian shares edge up amid caution ahead of corporate results

* NSE index up 0.14 pct, BSE index 0.15 pct higher

* Coal India top pct gainer on NSE index

* L&T hits record high, Tata Steel near decade high

By Tanvi Mehta

Jan 4 (Reuters) - Indian shares edged higher on Thursday with market heavyweights Coal India Ltd, Tata Steel Ltd and Larsen & Toubro Ltd (L&T) leading the rise, amid caution ahead of the corporate results season starting next week and the annual budget due next month.

Investors are awaiting December-quarter results, including from Tata Consultancy Services Ltd and Infosys Ltd that are scheduled late next week, amid signs the economy is recovering after the withdrawal of high-denomination currency bills in late 2016 and the introduction of a national goods and services tax last year.

“Market is showing action for individual stocks,” said Deven Choksey, founder, KR Choksey Investment Managers.

The broader NSE index was up 0.14 percent at 10,457.70 as of 0549 GMT, while the benchmark BSE index was 0.15 percent higher at 33,845.73.

Coal India was the top percentage gainer on the NSE index, rising as much as 2.8 percent to its highest since Nov. 29, while L&T climbed up to 2.4 percent to an all-time high.

Tata Steel gained as much as 2.8 percent to its highest since June 2008, while State Bank of India rose up to 2 percent.

Metal stocks also continued to rise on the back of upbeat commodity prices, with the Nifty Metal index rising as much as 1.9 percent to a record high. (Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu)

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