BENGALURU Indian shares extended their post-budget gains to a second session on Tuesday, led by advances in finance and infra stocks, as investors cheered…
Provided by Dow Jones By Yifan Wang Housing Development Finance Corp. said its net profit for its fiscal third quarter rose 35%, driven by higher fair-value gains and income growth from its life insurance business. Net profit for the October-to-December quarter was at 51.77 billion Indian rupees ($708 million), compared with INR38.35 billion a year earlier. Revenue rose 35% to INR392.68 billion, the firm said in a stock exchange filing on Tuesday. The firm s cumulative pandemic provisions stood at INR9.59 billion as of the end of last year, it added. Write to Yifan Wang at yifan.wang@wsj.com (END) Dow Jones Newswires Sponsor Center
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BENGALURU (Reuters) - India s main stock indexes ended at record closing highs on Tuesday, boosted by gains in financials and infrastructure stocks, after the government unveiled plans to hike spending to revive growth in the country s pandemic-hit economy.
The benchmark S&P BSE Sensex closed 2.46% higher at 49,797.72, while the NSE Nifty 50 index climbed 2.57% to 14,647.85.
The benchmark index breached the 50,000-mark earlier in the session, surging as much as 3.2% to 50,154.48.
In its budget on Monday, India boosted healthcare spending by 135%, lifted caps on foreign investment in its vast insurance market, and increased capital expenditure for 2021/2022 by 35%.
Home loan provider Housing Development Finance Corp pared some gains, but ended 3.1% higher after reporting a quarterly profit that beat analyst estimates.
BENGALURU (Reuters) - Indian shares extended their post-budget gains to a second session on Tuesday, led by advances in finance and infra stocks, as investors cheered the government s move to step up spending to aid the economy s recovery from the COVID-19 pandemic. The NSE Nifty 50 index rose 2.14% to 14,586.55 by 0352 GMT, while the benchmark S&P BSE Sensex was up 2.1% at 49,621.80. Both the indexes had gained 4.7% and 5%, respectively, after the federal budget was announced on Monday. India boosted healthcare spending by 135%, lifted caps on foreign investment in its vast insurance market, and increased capital expenditure for 2021/2022 by 35% in its federal budget.
India s main stock indexes ended at record closing highs on Tuesday, boosted by gains in financials and infrastructure stocks, after the government unveiled plans to hike spending to revive growth. | February 8, 2021