Indian shares rise on auto, telecom boost ahead of cabinet meeting

BENGALURU: Indian shares edged higher on Wednesday, boosted by gains in some energy stocks, while automobile and telecom companies jumped after local media reported that the government was considering incentives and financial relief for the sectors.

The blue-chip NSE Nifty 50 index was 0.19% higher at 17,412.60 by 0355 GMT, and the benchmark S&P BSE Sensex rose 0.18% to 58,358.53.

Auto stocks rose 0.47% on reports that the government would likely consider production-linked incentive scheme for specific segments of the sector in a cabinet meeting.