Indian Shares Edge Lower In Cautious Trade

Indian shares were a tad lower on Friday despite firm cues from global markets.

The benchmark BSE Sensex was down 208 points, or 0.2 percent, at 85,200 in early trade while the broader NSE Nifty index dipped 56 points, or 0.2 percent, to 26,085.
Tata Steel, Bajaj Finance and Sun Pharma all fell around 1 percent.

IndusInd Bank was moving lower after the Serious Fraud Investigation Office (SFIO) initiated a probe into the private bank over irregularities in its derivatives trading portfolio.

Vikran Engineering soared 4.4 percent on securing an EPC contract worth R. 459 crore from NTPC Renewable Energy.

KNR Constructions jumped more than 6 percent on news it will divest its entire stake in four road SPVs for a total value of Rs. 1,543.19 crore.

Ola Electric Mobility rallied 3.3 percent after it received government approval for the release of Rs. 366.78 crore in incentives under the PLI scheme for automobiles and auto components.

Castrol India climbed 2.6 percent after Motion JVCo, Stonepeak, and CPP Investment Board launched an open offer to acquire a 26 percent stake in the company.

Lenskart Solutions rose over 1 percent after its Singapore subsidiary approved an investment of KRW 3 billion (around Rs.186 million) to acquire a 29.24 percent stake in South Korea-based optical machinery company iiNeer Corp.