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State Bank said on Saturday it expected a stronger second quarter after provisions for sour loans coupled with treasury losses led to a 46 percent drop in net profit for its fiscal first quarter ended June.
Shares in Reliance Communications was up 0.8 percent at 85 rupees. The No. 2 mobile operator reported a sharper-than-forecast 37 percent fall in quarterly profit on Saturday, but rise in call prices was positive for the firm.
At 9:18 a.m. (0348 GMT), the 30-share BSE index was up 1.03 percent at 17,012.48 points, with all but two of its components rising.
The 50-share NSE index was up nearly 1 percent at 5,121.20 points.
Indian markets were closed on Monday for a national holiday.