Indian shares opened higher on Monday after the country’s drug regulator granted approval to two coronavirus vaccines for restricted emergency use.
Positive GST collection data and encouraging auto sales figures also boosted hopes of a swifter economic recovery from the coronavirus pandemic.
The benchmark S&P BSE Sensex rose 226 points, or half a percent, to 48,095 in early trade, while the broader NSE Nifty index was up 75 points, or half a percent, at 14,093.
BEML surged 4 percent. The government has invited expressions of interest for selling a 26 percent stake in the company.
Cadila healthcare advanced 1.5 percent after the drug firm received DCGI approval to initiate Phase III clinical trials of its Covid-19 vaccine.
Reliance Industries dropped half a percent. Reliance Jio announced that it is ending interconnect usage charges for all domestic voice calls. Vodafone Idea shares jumped 4.5 percent, while Bharti Airtel was marginally lower.
JSW Steel and Jindal Steel & Power both rose about 2 percent on reports they have submitted expressions of interest for debt-laden Uttam Galva Steels.
Hero MotoCorp eased half a percent on reporting 5 percent increase in total sales in December.
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