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Oil & Gas stocks lead the gainers
Wed, 25 Feb 01:30 pm

Backed by persistent buying activity, Indian equity markets continued to trade strong during the post noon trading session. Barring stocks from the Healthcare sector; all the sectoral indices are trading in the green. The most noticeable upward movement is being witnessed in the stocks of IT and Oil & Gas sector.

BSE-Sensex is up 220 points and NSE-Nifty is trading 60 points up. BSE Mid Cap and BSE Small Cap indices are trading up by 0.3%. The rupee is trading at 62.27 to the US dollar.

Majority of Software stocks are trading on a positive note with Wipro and Infosys leading the pack of gainers. According to a leading financial daily, Infosys is about to make its second startup investment this year, in a firm that makes air quality detectors as India's second-biggest software company doubles down on identifying next generation technologies. The deal is expected to close by April. The latest investment also aligns with the new strategy which bets on big data and artificial intelligence among the ideas that could potentially become big revenue earners. Earlier this year, Infosys made its first startup investment, tapping into the newly established US$500 million fund, in a DreamWorks spin-off. Infosys bought a minority stake in the startup for around US$15 million (Rs 900 m). Infosys was trading up by 1.8% on the BSE at the time of writing.

Realty stocks are trading on a mixed note. DLF and Prestige Estates are the leading gainers while Godrej properties and Sobha Ltd are trading in the red. According to a leading financial daily, Piramal Fund Management Ltd, a unit of Piramal Enterprises Ltd, will invest up to Rs 50 bn before March 2016 to finance construction projects. Reportedly, the company would invest in financing nine construction projects across major Indian cities. The projects are a mix of late-stage and mid-market residential developments, including at suburban locations, with a completion timeframe of 3 to 5 years. Piramal Fund Management, which has a real estate finance joint venture with Canada Pension Plan Investment Board, manages US$2 billion across various funds. It is to be noted that Piramal Enterprises Ltd is a pharmaceutical company.

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