Benchmark indices opened higher, with the Sensex rising 201 points to 38,937, and the Nifty climbing 47 points to 11,599.
Nifty Pharma and IT led the gains over a depreciating rupee which fell 25p to 68.69/$ on foreign outflows.
Shares of Infosys
soared over 4% after it revised its full year constant currency revenue growth guidance upwards to 8.5-10%. The company's PAT declined by 6.8% qoq but up 5.1% yoy to Rs3,798cr against median consensus estimates of Rs3,703cr.
Sun Pharma also climbed over 3%, followed by Dr. Reddy's which was up 2% in opening trade.
On the flip side, Nifty Realty and PSU Banks were trading lower, dragged by Allahabad Bank
which plunged over 10%.
Avenue Supermarts (DMart)
is also trading higher by over 4% after it reported a 32% rise in PAT. The company reported revenue of Rs5,780.5cr, up 26.8% yoy and broadly in-line with estimates. EBITDA jumped by 41.0% yoy to Rs595.9cr, ~12% higher than the estimate. PAT for the company was ~10% higher than the estimate.
On Friday, India's CPI and IIP numbers came in. June CPI rose 3.18% yoy vs. 3.05% yoy in May, while May IIP was up 3.1% yoy.
The wholesale price index and trade data is due later today.
Infosys Ltd is currently trading at Rs758.60 up by Rs31.5 or 4.33% from its previous closing of Rs727.10 on the BSE.
Sun Pharmaceuticals Industries Ltd is currently trading at Rs420 up by Rs12.3 or 3.02% from its previous closing of Rs407.70 on the BSE.
Allahabad Bank is currently trading at Rs42.35 down by Rs4.8 or 10.18% from its previous closing of Rs47.15 on the BSE.