Infrastructure shares gain on government reform hopes

Infrastructure shares, including GMR Infrastructure Ltd, gain on hopes of additional foreign investment in infrastructure bonds after the government eased some of the debt investment restrictions.

Analysts also cite hopes of measures to revive stalled infrastructure projects.

"We expect a 'big bang' focus on stalled projects, with the Cabinet Committee on Investment meeting far more frequently and with more conclusive recommendations," Deutsche Bank said in a note dated Sunday.

GMR Infrastructure shares are up 12% and IRB Infrastructures Developers rises 4.2%. Bharat Heavy Electricals is up 0.8%.