Indian shares rise as Reliance gains on KKR investment deal

BENGALURU, Sept 23 (Reuters) - Indian shares rose on Wednesday, led by gains in Reliance Industries after an investment deal by KKR & Co Inc in the conglomerate’s retail arm, with a decision by India and China to not send more troops to the contested border aiding sentiment.

Shares of Reliance rose 2.9% after it said U.S. private equity firm KKR will invest 55.50 billion rupees ($755.09 million) in the conglomerate’s retail arm.

China and India agreed to stop sending more troops to a Himalayan flashpoint along their contested border and to avoid any actions that might complicate the tense situation there, the two countries said on Tuesday.

The broader NSE Nifty 50 index rose 0.7% to 11,230.20 and the S&P BSE Sensex 0.7% to 37,997.74 by 0345 GMT. Both the indexes have fallen for the past four sessions and lost nearly 3% this week as of last close. (Reporting by Nallur Sethuraman in Bengaluru; editing by Uttaresh.V)