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Realty stocks lead the markets
Fri, 3 Jun 11:30 am

Indian stock market indices traded firm on the back of sustained buying in index heavyweights over the last two hours of trade. All sectoral indices are trading firm led by realty and consumer durables.

The BSE-Sensex is up by 117 points while NSE-Nifty is trading 35 points above yesterday's closing. BSE-Midcap and BSE-Smallcap indices are up by 0.7% and 0.8% respectively. The rupee is trading at 44.96 to the US dollar.

Auto stocks are trading firm led by Force Motors and M&M. As per a leading financial daily, Hero Honda is looking out for a technology partner. The company had recently split with Honda Motors and is now looking at tie-ups to source technology and designing expertise. These firms are mostly based out of Europe and Japan. It may be noted that earlier, Honda was providing the technology and Hero group was marketing the products. The auto company is also working on developing capacities for research and development on its own. It wants to invest Rs 2.5 bn in R&D activities in the current financial year. As per management, developing an entire product is a vision and they may do it themselves or in association with a partner. Going forward, the company wants to focus on the mass commuter segment but is also exploring opportunities in the premium segment.

Capital Goods stocks are trading firm led by Voltamp Transformers and KSB Pumps. Crompton Greaves Limited (CG) has announced the acquisition of US based company QEI Limited. The enterprise value of this acquisition is equivalent to US$ 30 m. CG will pay US$ 24 m upfront and the balance US$ 6 m will be paid as part of a conditional earn out amount. Formed in 1960, QEI is the market leading provider of SCADA and automation systems and products for the management of electric transmission and distribution networks in electric utilities and electrified transit. For the year ended 31st July 2010, QEI had sales of US$ 12.4 m and operating income of US$ 2.35 m. CG with this acquisition has further fortified its position in SCADA and the Substation Automation domain. This acquisition will also help the company penetrate the North American automation markets by using QEI's customer references.

It may be noted that this is CG's ninth acquisition in 6 years. Other acquisitions include Pauwels (2005), Ganz (2006), Microsol (2007), Sonomatra (2008), MSE Power Systems (2008), Power Technology Solutions (2010), three businesses of Nelco in 2010 and Emotron Group in 2011.

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Stock Market Updates

GUJ. STATE PETRONET Share Price Up by 5%; BSE 500 Index Up 1.4% (Today's Market)

Mar 2, 2021 03:31 PM

GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.

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Mar 2, 2021 03:23 PM

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JAGRAN PRAKASHAN Share Price Down by 7%; BSE 500 Index Up 1.3% (Today's Market)

Mar 2, 2021 03:23 PM

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JK LAKSHMI CEMENT Share Price Up by 11%; BSE 500 Index Up 1.0% (Today's Market)

Mar 2, 2021 03:15 PM

JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .

Sensex Trades Over 200 Points Higher; Dow Futures Down by 90 Points (Today's Market)

Mar 2, 2021 12:30 pm

BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 points.

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