BENGALURU, April 21 (Reuters) - Indian shares marked their
best session since April 4 on Thursday, buoyed by sharp gains in
conglomerate Reliance Industries and beaten-down information
technology stocks, while automakers climbed to two-month highs.
The NSE Nifty 50 index jumped 1.49% to 17,392.6,
while the S&P BSE Sensex rose 1.53% to 57,911.68.
The indexes are still down marginally for the month on
worries around the Ukraine crisis, surging inflation and a rout
in technology stocks following weak earnings from Tata
Consultancy Services and Infosys.
The Nifty Auto index was the best performing
sub-index, climbing 2.2%. Top carmaker Maruti Suzuki
advanced 2.8%, while truckmaker Eicher Motors surged
Heavyweight Reliance rose for a third session and
settled at a record high. Morgan Stanley raised its target price
on the conglomerate's stock earlier this week and said it
expects up to a 10% boost to the company's net asset value in
anticipation of quicker hydrogen monetization.
Three-wheeler maker Atul Auto surged 11.7% after
its unit will partner with Valeo and Honda Power Pack Energy
India for electric vehicles with battery swapping solution.
IT services provider HCL Technologies was up 0.9%
ahead of its quarterly results.
The Nifty IT index, which plunged to eight-month
lows earlier this week, closed 1.4% higher.
Steelmaker Jindal Steel and Power slid 2.9% after
reports that India's federal financial crime fighting agency had
raided its offices over suspected violation of foreign exchange
($1 = 76.3520 Indian rupees)
(Reporting by Chandini Monnappa and Chris Thomas in Bengaluru;
editing by Uttaresh.V)