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Equities

India shares post weekly gains, powered by upbeat earnings, HDFC Bank's jum

Mahindra, Coal India top performers on Sensex

MUMBAI (NewsRise) -- Indian shares outperformed other regional indexes this week on the back of upbeat earnings by key companies. Heavyweight HDFC Bank's biggest jump in 15 months also aided the advance.

The BSE Sensex and the Nifty 50 Index advanced 0.9% each this week, despite a pullback in Friday. Mahindra & Mahindra and Coal India were the top performers on the Sensex this week, up 5.2% and 6.6%, since last Friday. Mahindra's March quarter earnings topped expectations, helped by better-than-expected gross margins and cost reduction initiatives. In Coal India's case, while its earnings missed analysts' forecast on account of a jump in employee costs, robust realizations and revenue growth were a bright spot.

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