Indian stock markets pared losses in the last two trading hours but continued to trade in the red. Majority of the sectoral indices are trading in the positive with Private Sector Units (PSU) and realty stocks leading the pack of gainers. FMCG and banking stocks were amongst the few sectors trading in the red.
The BSE-Sensex is trading down 63 points and NSE-Nifty is trading down 13 points. BSE Mid cap and BSE Small cap indices are up by 0.4% and 1.1% respectively. The rupee is trading at 52.73 to the US dollar.
Majority of the power stocks are trading in the green with GVK Power, Reliance Power and PTC India Ltd being the biggest gainers. As per a leading financial daily, Tata Power has started generating power from 800 MW super-critical unit 1 of the Mundra Ultra Mega Power Project (UMPP). The project at Mundra will have five units of 800 MW each and generate 4,000 MW of overall power. The first unit was slated to begin commissioning by September 2011. Of the four UMPP projects awarded so far, the remaining three in Sasan (Madhya Pradesh), Krishnapatnam (Andhra Pradesh) and Tilaiya (Jharkhand) have been bagged by Reliance Power. Tata Power stock is up 1.1%.
Stocks from the engineering sector are trading mixed with Bharat Bijlee and Finolex Cables leading the pack of gainers and Kalpataru Power and Jain Irrigation trading the weakest. As per a leading financial daily, Larsen And Toubro (L&T) is planning to be more aggressive in contracting new orders. At a time when the order inflows for the construction industry are slowing down, the company is planning to go for more international orders. As part of the plan, the company intends to set up new offices and hire more people. Besides looking at the Gulf region, the company is eyeing other economies. It has recently opened its offices in Istanbul in Turkey to bag orders from CIS (Commonwealth of Independent States) countries. The company is looking forward to orders from the hydrocarbons sector as well for which it may open offices in Saudi Arabia and Australia. Besides, the company is boosting manpower to secure more orders from South American economies apart from Brazil.
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GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.
GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).
STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).
JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..
JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .
BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 points.
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