Markets up; Reliance rise, Maruti drops

Markets up; Reliance rise, Maruti drops

Mumbai: Shares rose more than 1% in early trade on Monday, with energy conglomerate Reliance Industries climbing on strong quarterly earnings.

Maruti Suzuki dropped more than 3% as the top car maker cited input costs and currency volatility as concerns. Credit Suisse downgraded the stock to neutral from outperform.

At 9:15am, the 30-share BSE index was up 1.35% at 20,302.44 points, with 28 components advancing. The 50-share NSE index was up 1.3% at 6,093.55.

Reliance Industries rose as much as 2.7% after posting its highest quarterly profit in nearly three years.

Hero Honda, the country’s top motorcycle maker, was down 2.5% after it reported a 15 percent drop in September quarter profit.