The major Asian stock markets have opened the day in the green with the stock markets in Japan (up 1.4%) and Taiwan (up 0.8%) leading the gains. The Indian share markets have opened the day on a firm note as well. All sectoral indices have opened in the green with the stocks in the realty and power space leading the gains.
The Sensex today is up by around 90 points (0.4%), while the NSE-Nifty is up by about 30 points (0.5%). The mid and small cap stocks have also opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.7% and 0.8% respectively. The rupee is currently trading at Rs 61.44 to the US dollar.
Software stocks have opened the day mainly in the green with Moser Baer India Ltd and CMC Ltd leading the gains. However, Tata Consultancy Services Ltd (TCS) was facing selling pressure. As per a leading financial daily, the software major TCS has partnered with Microsoft Business Solutions (MBS) for the development of online and on-premise versions of Microsoft Dynamics CRM (customer relationship management). As per the partnership, TCS has established a development centre to support the upcoming releases and updates to the Microsoft Dynamics CRM Roadmap, namely Mira and Leo. The development centre aims to enhance roadmap platform through the development of innovative marketing business applications and additions to core technology and mobility platforms. The company has also invested in a test center which will work to identify and create solutions that will improve the user experience, drive process agility and automation.
Power stocks have opened the day mainly in the green with India Bulls Power Ltd and Reliance Infrastructure Ltd leading the gains. As per a leading financial daily, National Thermal Power Corporation (NTPC) Ltd has signed an agreement with State Bank of Bikaner & Jaipur (SBBJ) for a term loan of Rs 5 bn for fund expansion. As per the company statement, the loan facility is extended at the base rate of the bank, which is the bare minimum rate at which a bank can lend the loan. SBBJ has a base rate of 10.25% as per its website. The loan will be for duration of 15 years and will be used to part-finance capital expenditure. NTPC has an installed capacity of 42,964 MW, including plants operated through joint ventures and three renewable energy projects. It further plans to invest Rs 1.5 trillion in the five-year period ending March 2017.