The benchmark indices in the Indian stock market continued to trade in the green in the last two hours of trade. Stocks from Realty, Metal and Software space are trading firm, while those from Capital Goods and Power space are trading weak.
The BSE-Sensex is up by 153 points while NSE-Nifty is trading 36 points above the dotted line. BSE Midcap and BSE Small cap indices are trading up by 0.3% and 0.2% respectively. The rupee is trading at 44.28 to the US dollar.
Power stocks are trading mixed with Jaiprakash Power and Reliance Power leading the pack of gainers. The stocks of GVK Power and Coal India are trading in the red. As per a leading financial daily, Power Grid Corp. has signed an agreement to develop transmission network with Kenya Electric Transmission Company Ltd. (KETRACO) in Nairobi. KETRACO is a 100% state-owned corporation that designs, constructs, operates and maintains high voltage electricity transmission infrastructure. The details of the agreement are yet to be worked out. The company has also signed an agreement to provide 10 weeks training to KETRACO engineers under the first phase. This will be followed by a two months hands-on training and a specialized training based on evaluation reports of the first two phases. These agreements are expected to lead to substantial future consultancy business assignments for Power Grid on a nomination basis. The stock of Power Grid Corp is trading flat.
Software stocks are trading mixed as well with NIIT Ltd, TCS and HCL Infosystems leading the pack of gainers. However, Moser Baer (India) and HCL Tech are trading weak. As per a leading financial daily, NIIT Ltd, an Indian IT (Information Technology)-based educational sector company, has sold its unit Neo Multimedia Ltd to Earth Infrastructures Ltd for US$ 7.3 m (Rs 32.3 Cr). Neo Multimedia was previously known as NIIT Multimedia Ltd. It was a non-operating unit of NIIT Ltd. NIIT has closed the deal today and transferred 100% of this unit to Earth Infrastructures and its nominees. The directors of NIIT Ltd have resigned from Neo Multimedia Ltd. The stock of NIIT Ltd witnessed a steep rise in the morning session of trade. It is now up by 5.1%.