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Realty stocks on a high
Thu, 15 Jan 11:30 am

After opening in the green, the Indian Indices have steadily managed to hold on to their early gains. Realty and banking stocks are leading the gainers. Mid and small cap stocks too are witnessing buying interest

The BSE-Sensex is trading up by 535 points. The NSE-Nifty is trading up by 156 points. The BSE Mid Cap index is trading up 1.1% and the BSE Small Cap index is trading up 1%. The rupee is trading at 62.15 to the US dollar.

Most automobile stocks are trading higher today. M&M and Maruti Suzuki are leading the gainers. According to a leading business daily, Hero MotoCorp has beaten Honda Motorcycle and Scooters India to emerge as the country's largest scooter exporter after venturing into international markets. It is worth remembering that the company is also India's largest two-wheeler maker with a 40% share of the 16 m unit market. The company has exported 84,690 scooters in 2014. This is an almost 550% leap over 2013 when it exported just 15,776 scooters. Its competitor Honda Motorcycle on the other hand saw an 85% rise in scooter exports to 79,184 in 2014.

Most telecom stocks are trading higher today. Tata Teleservices and Idea Cellular are leading the gainers. As per a leading financial daily, India's largest telecom firm Bharti Airtel, may have to pay Rs 4.36 bn for merging its subsidiary Airtel Broadband Services with itself. This subsidiary was the erstwhile Wireless Business Services, a company founded by US chip manufacturer Qualcomm. This company had won a broadband license in 2010 and was acquired by Bharti in 2013. The Department of Telecom (DoT) is currently seeking legal opinion regarding this issue. It must be kept in mind that Reliance Jio Infocomm (RJio) had paid about Rs 16.7 bn for settling the issue of shifting its broadband license to the full Unified License (UL). Bharti might need to do so as well. Bharti Airtel is trading up 1.3% today.

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