Indian shares unchanged as HCL losses offset auto gains
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BENGALURU (Reuters) - Indian shares were flat early on Monday as a 6% drop in IT firm HCL Technologies, after disappointing quarterly results, countered gains in auto stocks.
The NSE Nifty 50 index fell 0.01% to 18,253.90 by 0402 GMT, while the S&P BSE Sensex dipped 0.04% to 61,186.83.
HCL Technologies slumped over 6% and was the top percentage loser on the Nifty 50 index after it posted a drop in its quarterly net profit late on Friday.
Auto stocks rose 1.3%, led by a 3% jump in Hero Motocorp after the two-wheeler maker said it will invest about $56.6 million in electric vehicle firm Ather Energy.
Four of the top gainers on the Nifty 50 index were auto stocks, with car maker Maruti Suzuki India climbing nearly 3% after it hiked prices.
