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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets remain buoyant 
(Fri, 11 Jan 01:30 pm) 
 
Indian share markets pared initial gains but continued to hover above the dotted line in the post noon trading session. Majority of the sectoral indices are trading negative with FMCG, oil and gas and power being the biggest losers. Only IT and consumer durables stocks are trading in the green.

BSE-Sensex is up 51 points and NSE-Nifty is trading marginally down. Both BSE Mid Cap and BSE Small Cap indices are trading down by 0.8% each. The rupee is trading at 54.6 to the US dollar.

Majority of FMCG stocks are trading in the red with Hindustan Unilever and Marico being the biggest losers. Godrej Consumer Products and Nirma are the only stocks trading positive. According to a leading financial daily, Dabur is witnessing an increase in the category share of its packaged juices from rural markets with growing penetration in the hinterland. The company has extended its fibre-enriched fruit beverage range to a slew of new variants and has also stepped up its juice distribution network in the rural markets. As per market research agency, Nielsen, Dabur is the market leader in the juice category with a 54% market share. Reportedly, this category is the fastest growing category in the overall beverages market, logging annual growth rate of 15-18%. Capitalizing on the rising demand for health foods, players like Coca Cola, Del Monte, Pepsico, Parle Agro and Rasna have also been launching new juice variants. Pepsico is extending its Tropicana juices to the powder format and Rasna is planning to foray into premium ready-to-drink juices. Even Parle Agro plans to re-launch its 100% fruit juice brand, Saint. Modern trade is an important channel for packaged juices with a 30% contribution in overall sales as per the Future Group. Dabur stock is currently down 1%.

Most of the telecom stocks are trading in red with AGC Networks and Tata Communications being the major losers. As per a financial daily, Department of Telecommunications (DoT) has sent notices to Bharti Airtel and Vodafone to pay around Rs 88 bn as one time spectrum fee, as these companies hold additional spectrum. DoT demands the first installment amounting to Rs 38 bn to be paid by Jan 2013. Initially, telecom firms were given 4.4 MHz spectrum including license for Rs 16 bn for pan-India operations and additional 1.8 MHz on fulfillment of certain criteria. In November, the government decided that the operators should pay additional charges for holding spectrum above 6.2 MHz retrospectively, from July 2008 to January 1, 2013. Airtel has option to pay at least Rs 18 bn as first installment from the total amount of Rs 52 bn levied on the company. On the other hand DoT demands Rs 36 bn from Vodafone with an option to pay at least Rs 21 bn during Jan 2013. Bharti Airtel was trading down by 1%.

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May 26, 2017 (Close)

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