Indian shares saw a modest rise in early trading on Thursday, spurred on by less aggressive stances implied from the Federal Reserve's most recent monetary policy announcement.
The key S&P BSE Sensex index increased by 108 points, a marginal gain of 0.1 percent, to reach 74,593. Concurrently, the wider NSE Nifty index grew by 30 points, representing a 0.1 percent increase, to stand at 22,635.
Banking and finance stocks were significantly active. Kotak Mahindra Bank's stock slid nearly 4 percent following the departure of K V S Manian. Manian, who had contributed to the bank as joint managing director, informed of his decision to resign and explore other career opportunities. Meanwhile, Federal Bank saw a 4 percent increase in shares amidst speculation that Manian might join its ranks.
There were mixed reactions in involving Godrej-associated companies. Godrej Industries and Godrej Consumer Products saw an increase in shares by over 1 percent and 0.7 percent respectively. On the other hand, Godrej Properties experienced a 2.4 percent decrease following company group division operations.
Other notable movements included Vedanta, experiencing a 1 percent rise in share value after announcing a staggering 4-year investment plan of $20 billion in India. TVS Motor's shares rose over 1 percent as it reported a remarkable 25 percent progression in monthly sales. Jindal Stainless, another to see a share value climb of 0.6 percent divulged details of its expansion plans.
Conversely, Adani Ports shares dipped 1 percent ahead of its impending profit announcement.