The Indian stock market gained during the previous two hours of trade due to buying interests in the heavyweights and are now trading in the green. Most of the sectoral indices are trading firm. Stocks from the realty, healthcare, software and oil & gas space are leading the pack of gainers, while those from the capital goods are trading weak.
The BSE-Sensex is trading up by 76 points, while NSE-Nifty is trading 23 points above the dotted line. BSE Midcap and BSE Small cap> indices are up 0.6% and 0.4% respectively. The rupee is trading at 44.95 to the US dollar.
Software stocks are trading mixed with Tech Mahindra, Infosys and Tata Consultancy Services (TCS) leading the pack of gainers. However, Mahindra Satyam and Wipro are trading firm. As per a leading financial daily, IT (Information Technology) major Wipro is now looking to move into the business of developing platforms and products, including developing IP ( intellectual property ). Currently, the company business model is mainly service driven. The focus of the company would be differentiating itself from competitors with the help of new products and services. However, the company has no plan to set up a separate organization for these initiatives.
The company has formed a technology executive council (TEC) and a technology business council (TBC) to ramp up the future growth of its business. The members of the council are based across the world and will meet formally on quarterly basis. The members are technology leaders identified from across horizontal service lines and verticals.
Power stocks are trading mixed as well with Jaiprakash Power, PTC India and Reliance Infrastructure leading the pack of gainers. However, Gujarat Industries Power and Tata Power are trading weak. As per a leading financial daily, the national coal distribution policy, which is almost three years old may get overhauled. As per the coal minister, the ever growing demand of coal from power sector has made the mineral's supply very limited to other sectors. The new policy will help to manage the widening demand supply gap and depleting production of Coal India. If coal ministry has its way, then soon a new distribution policy may be in place. It will serve comprehensive coal linkage needs of core and non-core sectors by introducing flexibility in coal supply to meet the growing demands of these sectors and promote energy security.