May 8 (Reuters) - Indian shares rose on Monday, led by a rally in Ambuja Cements and ACC Ltd after the companies said they were exploring a merger, while lenders gained after the government further empowered the central bank to tackle bad debts in the sector.
The broader NSE index ended 0.31 percent higher at 9,314.05, while the benchmark BSE index closed up 0.23 percent at 29,926.15.
Ambuja Cements rose about 5.8 percent, while ACC rose 3.1 percent. State Bank of India, Bank of India and Bank of Baroda gained about 1 percent each.
For the mid-day report, see (Reporting By Samantha Kareen Nair in Bengaluru; Editing by Gopakumar Warrier)