Mumbai: Indian shares rose 0.9% in early trade on Monday, with Reliance Industries leading the rise after the energy major agreed to buy a telecoms firm.
At 9:03am, the 30-share BSE index was up 0.88% at 17,214.78 points, with 29 components advancing. It rose as much as 1%. The 50-share NSE index was up 0.8% at 5,161.40.
Billionaire Mukesh Ambani-led Reliance Industries made a dramatic return to telecoms, agreeing to buy Infotel Broadband on Friday, which was the only company to win a nationwide licence in India’s broadband wireless spectrum auction. The stock was up 1.9% at Rs1,065.70.