After opening the day on a positive note, Indian equity markets have continued to witness buying interest during the previous two hours of trade. Realty and FMCG stocks are the leading gainers. Banking and pharma stocks are the leading losers.
Majority of the Indian pharmaceutical stocks are trading in the green. Wockhardt Ltd and Ipca labs are the leading gainers while Ranbaxy and Sun Pharma are trading the weakest. According to a leading financial daily, Cipla has been awarded a tender worth Rs 11.7 bn for antiretroviral drugs by The Global Fund to Fight AIDS, Tuberculosis and Malaria. Cipla has been selected as a 'panel supplier' under a supplier partnership agreement. The contract is effective from January 1 and will run for three years. The supplies will begin from the fourth quarter of FY15. The antiretroviral drugs will be manufactured in Cipla's facilities in India.
Mining stocks are trading on a positive note. Sesa Sterlite and Hindustan Zinc are the leading gainers. According to a leading financial daily, Hindalco Industries has bagged the Kathautia coal block in Jharkhand for Rs 28.6 bn a tonne on the second day of coal auction. This would imply that the company would pay Rs 2.2 bn a year and Rs 68 bn for a period of 30 years. The block is for end-use in the unregulated sector - iron, steel, cement and captive power generation. GMR and Reliance Cement bagged one mine each yesterday for an estimated Rs 13.7 bn and Rs 7.9 bn respectively. Hindalco is trading up by 0.6% on the BSE.