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Indian equity markets remain firm
Tue, 5 Mar 11:30 am

Indian equity markets have traded in green during the previous two hours of trade. The most noticeable upward movements have been witnessed in the IT and realty sectors while consumer durables was the only sector witnessing selling pressures.

The BSE Sensex is up by 160 points and NSE-Nifty is up by 50 points. BSE Mid Cap index and BSE Small Cap index were trading higher by 0.77% and 0.38%. The rupee is trading at 54.73 to the US dollar.

All except one large software stock, Patni Computers have traded in red. According to a leading financial daily, TCS, India's largest IT services provider, has been ranked fourth on Brand Finance's list of most valuable IT services brands. IBM, HP and Accenture have taken the top 3 slots. This is the second straight year in which TCS got ranked among the top 4 IT Services brands. TCS has increased its brand valuation by US$ 1 bn to US$ 5 bn during this period. Brand Finance, which assesses the dollar value of the intangibles, viz., reputation, image and intellectual property associated with world's leading companies, has said that TCS earned its place by virtue of its strong performance across client engagements, community development, sponsorships and employee satisfaction. TCS's share is trading up by 1.2%.

All except three auto stocks, Hero Motocorp, Maharashtra Scooters and Bajaj Auto have traded in green in the last two hours of trade. According to a leading financial daily, another Tata Group Company, Tata Motors, India's largest automaker by revenue has slashed the prices of its hatchbacks and sedans by up to Rs 50,000 in order to boost sales. The announcement follows the dismal monthly performance by the company in the month of February when the domestic passenger car sales dropped by 62% YoY. February 2013 was also the month in which Tata Motors recorded the lowest sales volume of passenger cars in more than 6 years. While the price of Nano remains unchanged, the Indica hatchback bears a price cut of Rs 29,000 and the Manza sedan is cheaper by Rs 50,000. The new prices are effective from March1, 2013. Tata Motor's share is trading up by 3.2%

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