People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis MascarenhasBENGALURU, Jan 17 (Reuters) – Indian shares were flat early on Monday as a 6% drop in IT firm HCL Technologies (HCLT.NS), after disappointing quarterly results, countered gains in auto stocks.
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People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis MascarenhasBENGALURU, Jan 17 (Reuters) – Indian shares were flat early on Monday as a 6% drop in IT firm HCL Technologies (HCLT.NS), after disappointing quarterly results, countered gains in auto stocks.The NSE Nifty 50 index (.NSEI) fell 0.01% to 18,253.90 by 0402 GMT, while the S&P BSE Sensex (.BSESN) dipped 0.04% to 61,186.83.
HCL Technologies (HCLT.NS) slumped over 6% and was the top percentage loser on the Nifty 50 index after it posted a drop in its quarterly net profit late on Friday.
Auto stocks (.NIFTYAUTO) rose 1.3%, led by a 3% jump in Hero Motocorp (HROM.NS) after the two-wheeler maker said it will invest about $56.6 million in electric vehicle firm Ather Energy. read more
Four of the top gainers on the Nifty 50 index were auto stocks, with car maker Maruti Suzuki India (MRTI.NS) climbing nearly 3% after it hiked prices.
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Reporting by Chandini Monnappa in Bengaluru; editing by Uttaresh.V
Our Standards: The Thomson Reuters Trust Principles.
