Indian shares flat; ONGC, Reliance Industries gain

Last Updated: Mon, Aug 13, 2012 09:53 hrs

India's benchmark BSE index rises 0.35 percent, while the 50-share NSE index gains 0.45 percent.

Shares in India's state-run producer Oil & Natural Gas Corp up 0.7 percent after the company reported over the weekend a higher-than-expected jump in quarterly profit.

Reliance Industries rise 0.8 percent, extend a rally this month on hopes its stand-off with the government over its KG-D6 blocks would ease, as well as on improved optimism about its gross refining margins.

However, Tata Motors shares fall 2 percent, after already dropping 3.1 percent on Friday following its disappointing April-June earnings last week.

Traders will eye Tuesday's inflation data for further direction after last week's surprise slump in industrial output.

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