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Indian Indices remain strong
Wed, 20 May 01:30 pm

Indian share markets continued to trade strong in the post-noon trading session. Stocks from Banking and Software sector were the leading gainers while Steel and Auto stocks witnessed maximum selling pressure.

The BSE-Sensex is trading up by 173 points (0.6%) and NSE-Nifty is trading up by 54 points (0.6%). S&P BSE Midcap index and S&P BSE Smallcap index are both trading up by 0.2% and 0.4% respectively. Gold prices, per 10 grams, lost 0.2% or Rs 53 and are trading at Rs 27,243 levels. Silver price, per kilogram, lost about 2% or Rs 71 and is trading at Rs 39,205 levels. Crude oil is trading at Rs 3,766 per barrel. The INR is trading at 63.75 to the US$.

Power stocks today are trading on a mixed note with KSK Energy and Tata Power witnessing maximum buying activity. The stock of Tata Power jumped nearly 5% today in early trade as the company swung into profits for the March 2015 quarter. The company reported a better than expected consolidated net profit of Rs 1.6 bn in the fourth quarter ended March 31, 2015 as against a net loss of Rs 1.4 bn in the corresponding quarter last year. This rise was mainly due to lower depreciation and reduced coal prices. The company reported 28% YoY (year-on-year) growth in operating profit at Rs 14 bn for the quarter under review. The is currently trading up by 2%.

Consumer Products stocks are also trading mixed today with Pidilite Industries and Colgate being the top losers. Consumer products major, Colgate Pamolive (India) Ltd on Tuesday reported a 23.6% rise in its profits at Rs 1.6 bn for the quarter ended March 2015 on account of robust sales. The company's total income from operations rose 10.8% to Rs 10.3 bn for the quarter under consideration as against Rs 9.3 bn for the same period year ago. The company stated that it has maintained its leadership position in the toothpaste and toothbrush segment by registering a volume market share of 58% and 42% respectively for the quarter. For the full year 2014-15, the company's net profit rose by 3.5% at Rs 6 bn against Rs 5.4 bn during 2013-14. Currently, the stock of Colgate is trading down by 2.5%.

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