Sensex up 0.7%; autos rally, Patni drops

Sensex up 0.7%; autos rally, Patni drops

Mumbai: Shares rose 0.7% in early trade on Monday, with automakers leading the gains on strong December sales.

At 9:16 am, the 30-share BSE index was up 0.65% at 20,642.73 points, with 27 components advancing.

Tata Motors was up 1.8% as it said its India sales rose 31% in December, and it raised prices of some vehicles.

Patni Computer Services fell more than 3% after US software company iGate said on Sunday it cancelled a news conference it had scheduled for Monday, at which it was expected to announce a deal with Apax Partners for a majority stake in the Indian firm.

The 50-share NSE index was up 0.6% at 6,171.60 points.