Indian Shares Hold Steady In Early Trade

Indian shares held steady in early trade on Monday, tracking mostly positive cues from global markets.

The benchmark BSE Sensex was up 58 points, or 0.1 percent, at 85,290, after having snapped its two-day winning streak on Friday. The broader NSE Nifty index edged up by 28 points to 26,095.

Kotak Mahindra Bank was little changed after announcing a 1:5 stock split.

InterGlobe Aviation, IndiGo’s parent company, rose about 1 percent. The stock has joined the 30-stock Sensex index, replacing Tata Motors Passenger Vehicles.

Tata Consultancy Services edged up slightly despite an adverse U.S. appeals court ruling in its long-running legal battle with DXC Technology.

Rail Vikas Nigam gained 1 percent after it emerged as the lowest bidder for a Rs. 180.77-crore Northern Railway project.

Natco Pharma fell nearly 1 percent. The U.S. health regulator has issued seven procedural observations following an inspection of its Manali API facility.