Indian shares saw slight gains as the Modi government announced plans for a major tax overhaul. The BSE Sensex rose by 147 points, and the NSE Nifty index increased by 39 points.

Reliance Industries surged 2% after entering the healthy functional beverage market through an acquisition. Vedanta rose 2% ahead of a dividend meeting, while Bharti Airtel and Tata Motors also saw gains.

Vodafone Idea climbed 1% as it explores funding options for capital expenditure. Rainbow Children’s Medicare rose 1.4% after acquiring a majority stake in Pratiksha Women & Child Care Hospital.

On the downside, Indian Oil Corporation dropped 1% for importing Russian crude despite U.S. pressure. Bajaj FinServ, BEL, UltraTech Cement, HCL Technologies, and Bajaj Finance all fell by around 1%.

Read more at Nasdaq: Sensex, Nifty Slightly Higher In Early Trade