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- Indian Stock Market News January 23, 2015
Small caps out of favour Fri, 23 Jan 11:30 am
Indian equity markets continued to trade in the positive during the last two hours of trade. Most of the sectoral indices are trading firm led by auto and capital goods stocks.
The BSE-Sensex is trading up by 190 points and NSE-Nifty is trading up by 45 points. BSE Mid Cap and BSE Small Cap indices are trading down by 0.4% and 0.7% respectively. The rupee is trading at 61.69 to the US dollar.
Software stocks are trading mixed today. Tech Mahindra and Wipro are the leading gainers; while HCL Infosys and HCL technologies are the leading losers. NIIT Ltd, a skill development firm, reported a 46.2% YoY jump in consolidated net profit at Rs 18 m for the December quarter. Consolidated revenue grew 6% YoY to Rs 2.48 bn for the October- December quarter this fiscal against Rs 2.34 bn in the same quarter of 2013-14 fiscal. During the quarter, NIIT rolled out industry-aligned programmes in partnership with leading organizations like eBay, IEEE. NIIT also tied up with Microsoft to roll-out its 'Women in Tech' initiative across 5,000 schools, colleges and centers in 200 cities. NIIT also recently entered into a Memorandum of Understanding (MoU) with Guian New Area, the capital city of Guizhou province in China, to offer programmes in IT with special focus on Big Data.
Fertilizers stocks are trading strong today led by Gujarat State Fertilizers Corporation (GSFC) and Godavari Fertilizers. According to a leading financial daily, the state owned GSFC is planning to spend over Rs 12 bn towards capacity expansions this year. The company is planning to expand its Nylon-6 capacity with additional production of 15,000 MTPA to meet the growing demand for plastics. The expansion is estimated to require an investment of Rs 1.25 bn, while that of melamine capacity expansion would see an investment of Rs 10 bn taking the total investment in the expansion activities to Rs 12.09 bn.
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