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Indian markets pare gains
Mon, 31 Mar 01:30 pm

The Indian stock markets pared most of their gains during the previous two hours of trade on account of gradual selling among the index heavy weights. Power and FMCG stocks are leading the pack of losers, while stocks from consumer durable space are trading firm.

The BSE Sensex is trading higher by 24 points and the NSE-Nifty is trading higher by 4 points. The BSE Mid Cap index is trading up by 0.7% and the BSE Small Cap index is trading up 1%. The rupee is trading at 60.09 to the US dollar.

Software stocks are trading mixed today. HCL Technologies and Infosys are leading the pack of gainers, while Tech Mahindra and Wipro are trading weak. As per a leading business daily, TCS is expected to invest more in developing automation based software platforms. It is looking for setting up automation platforms for up to 40% to 50% of tasks. It also plans to eliminate the age old business processes that are no longer relevant at current times. As per the company management, it would first eliminate processes that are redundant and then from the balance processes it would opt for opportunity to automate routine and customized tasks by up to 40%-50% levels. The development would lead to improvement in the company's revenue earned per employee. For instance, TCS has already started investing and creating intellectual property across the board for robotic automation. The automation based model would perform tasks at costs of one-fourth the billing rates and at a fraction of time than it would take for a human engineer.

Majority of the FMCG stocks are trading higher. Godrej Consumer and P&G are trading higher, whereas Emami Ltd. is trading weak. The personal and home care product maker Godrej Consumer Products Ltd (GCPL) plans to restructure its business operations. On the back drop of turbulent times the company management aims to save costs by up to Rs 2.5 bn during FY15. It would put more emphasis on profitability first and then the sales growth, that has already been affected on account of economic downturn. For instance, it has decentralized decision making in its domestic operations to state level focus. On international front, the management has dissolved the position of global head of operations. For international business which accounts for half of GCPL consolidated sales, the company has created 3 international clusters, Rest of Asia, the UK & Latin America and Africa. These clusters and the state level regional clusters would be responsible for maintaining of Profit and Loss account within their regions.

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Mar 16, 2018 (Close)