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Realty & metal, top gainers
Mon, 9 Jun 01:30 pm

Indian share markets continued to remain buoyant in the post-noon trading session. Barring oil & gas, all the sectoral indices are trading in the green with realty, metal and capital goods stocks being the biggest gainers.

BSE-Sensex is up 175 points and NSE-Nifty is trading 65 points up. BSE Mid Cap is trading 1.1% up and BSE Small Cap index is trading up by 1.5%. The rupee is trading at 59.04 to the US dollar.

Food stocks are trading mixed with Golden Tobacco and Tata Coffee being the major gainers whereas GSK Consumer and Agro Tech Foods are trading in the red. As per a leading financial daily, Tata Global Beverages (TGBL) is planning to widen presence of nutrient water brand 'Tata Water Plus' pan-India. The product was introduced in 2012 in joint collaboration with Pepsico through joint venture vehicle NourishCo and is currently available in Tamil Nadu, Andhra Pradesh and Gujarat. NourishCo has three products under its portfolio namely Tata Water Plus, Tata Gluco plus and Himlayan Natural Mineral Water. The company has built an expansive pipeline of innovations that will be used to fuel growth and create new hydration solutions. Currently TGBL's water business contributes a mere 1% to overall revenues with teas still having a lion's share of 70%. TGBL stock is trading up marginally.

Majority of the energy stocks are trading mixed with Castrol and Jindal Drill being among major gainers whereas ONGC and BPCL are trading in the red. As per a leading financial daily, Gas Authority of India Ltd (GAIL) is offering liquefied natural gas (LNG) procured from US at USD$ 12-13 per million British thermal units (BTU). The company has entered into a 20-year agreement to buy 3.5 m tonnes of LNG a year from Cheniere's Sabine Pass terminal. GAIL's internal requirement stands at 1 million tons annually and the balance the company proposes to re-sell it to Indian customers at prices indexed to the US benchmark of Henry Hub prices. Currently India buys LNG from Qatar at oil-indexed prices of USD$ 13.8. The natural gas produced in India is currently priced at USD$ 4.2and is expected to double after it is revised shortly. As per GAIL, the supplies are expected to commence from FY18. GAIL stock is currently trading up by 1.1%.

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