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Small & midcaps outperform
Fri, 27 Feb 11:30 am

After opening firm, the Indian Indices have continued to trade in the positive territory during the morning trading session. All sectoral indices are trading in the green barring the FMCG sector.

The BSE-Sensex is up by 150 points and NSE-Nifty is up by 52 points. BSE Mid Cap index and BSE Small Cap index are trading up by 1.1%. The rupee is trading at 61.79 to the US dollar.

Indian pharmaceutical stocks are in favor today. Strides Arcolab and Indoco Remedies are trading the strongest. According to a leading financial daily, the US Food and Drug Administration (USFDA) has raised fresh concerns in Wockhardt's Waluj manufacturing plant after a week-long inspection. The FDA has banned imports from the Waluj plant since May 2013 over concerns related to manufacturing practices. It has also imposed a similar ban on another Wockhardt plant in Chikalthana. Waluj is one of seven plants in India owned by Wockhardt, which also has production facilities in the United States, Britain and Ireland. The United States is the largest market for Wockhardt, accounting for 43 per cent of its revenue.

Barring Neyveli Lignite and KSK Energy, power stocks are trading in the green. Jaiprakash Power and GVK Power and Infra are leading the pack of gainers. State-owned NTPC's board has approved the investment proposal for 1,320 MW thermal power project in Madhya Pradesh. The company has accorded the investment approval for the Khargone power project at an appraised current estimated cost of Rs 98.7 bn. Reportedly, the Board of Directors has also approved the company's proposal to set up 10,000 MW of renewable energy projects during the next five years.

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