HDFC Bank, Tech Mahindra lift Indian shares higher at open
Updates at 9:26 a.m. IST
Oct 21 (Reuters) -Indian shares opened higher on Monday, led by top private lender HDFC Bank and IT major Tech Mahindra after their better-than-expected quarterly earnings.
The NSE Nifty 50 .NSEI opened 0.3% higher at 24,923.2 points as of 9:26 a.m. IST, while the BSE Sensex .BSESN added 0.44% to 81,576.9 points.
HDFC Bank HDBK.NS, the heaviest-weighted stock on the Nifty, rose 3% after posting September-quarter earnings above expectations.
IT major Tech Mahindra TEML.NS also rose 4% after reporting a growth in quarterly revenue.
On the flipside, Kotak Mahindra KTKM.NS fell 3% on the back of a sequential margin contraction and asset quality deterioration in September quarter.
Meanwhile Tata Consumer Products TACN.NS shed 6.5% after its core margins for the quarter fell short of most analysts' estimates.
Reporting by Bharath Rajeswaran and Hritam Mukherjee in Bengaluru; Editing by Rashmi Aich and Savio D'Souza
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