After opening in the green, the Indian Indices have added to the early gains and are trading well above the dotted line currently. Banking and consumer durables stocks are leading the gainers. Mid and small cap stocks too are witnessing buying interest.
As per a leading business daily, coal major Coal India will see senior IAS officer S. Bhattacharya assume charge as its new full time chairman and managing director by the 5th of January. It may be noted that the company has been without a fulltime head since S. Narsing Rao resigned from the post in May 2014. A better performance as far as meeting coal production targets is likely to be top on the agenda of the new management head of the company.
In a sign of a pick-up of manufacturing activities, the HSBC purchasing managers' index (PMI) rose to a 2 year high in December due to a rise in output and order flows from both domestic and overseas markets. The PMI was up at 54.5 points in December compared to 53.3 points in November.