By RTT News,
December 22, 2013, 11:30:00 PM EDT
(RTTNews.com) - Indian shares rose on Monday, tracking firm Asian cues after U.S. GDP data beat estimates and the International Monetary Fund said it expects the U.S economy to expand at a faster pace next year, amid improving job market and some signs of compromise in Congress.
The key benchmark indexes in Australia, Indonesia and Malaysia are subdued, while the markets elsewhere are posting modest gains.
Closer home, the benchmark BSE Sensex is up 69 points or 0.33 percent at 21,149, with 24 of its components advancing. The broader Nifty index is at 6,296, up 22 points or 0.34 percent from its previous close.
Hindalco Industries is rallying 4 percent, while Tata Motors, Bajaj Auto, Larsen & Toubro, Axis Bank, Tata Steel, Hero MotoCorp and BHEL are up 1-2 percent.
Larsen and Toubro is adding 1.1 percent after its subsidiary L&T IDPL sought FIPB approval for raising up to Rs. 2,000 crore through FDI.
IL&FS Engineering is moving up 0.8 percent on bagging a Rs. 144.65-crore railway project.
Steel makers Tata Steel and SAIL are up about a percent each on price hike buzz.
Jindal Steel & Power is rising 1.8 percent despite receiving a show-cause notice from the coal ministry for delay in the development of coal mines.
State-run oil companies are gaining ground after hiking fuel prices. BPCL is gaining 0.9 percent, HPCL is up 0.3 percent and IOC is edging up 0.2 percent.
Infosys is losing 1.3 percent after V Balakrishnan, board member and former CFO who heads Infosys BPO India business, resigned to start his own private firm.
United Breweries Holdings (UBHL) is declining 1.8 percent and United Spirits (USL) is down 1.7 percent after the High Court ruled as void the sale of a 6.9 percent stake in USL by UBHL to Diageo.
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