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Indian Indices Open Firm
Fri, 17 Jun 09:30 am

Major Asian stock markets have opened the day on a positive note with stock markets in Japan and China are trading higher by 1.5% and 0.7% respectively. Benchmark indices in Europe and US ended their previous session on a negative note with stock markets in France and Germany ending the day lower by 0.5% and 0.6% respectively. The rupee is trading at 67.20 per US$.

Indian stock markets have opened the day on a strong note. The BSE Sensex is trading higher by 173 points (up 0.7%) and the NSE Nifty is trading higher by 44 points (up 0.6%). Further, BSE Mid Cap and BSE Small Cap are trading higher by 0.6% and 0.7% respectively.

Major sectoral indices have opened the day in green with stocks from banking and realty sectors are witnessing buying interest.

As per an article in Livemint, International Finance Corporation (IFC), lending arm of the World Bank has decided to invest up to US$ 75 million in Glenmark Pharmaceutical Ltd. Currently, Glenmark is in talks with various investors for raising around US$ 200 million.

Glenmark intends to use this money to reduce its debt and fund its expansion plan. As of 31 March, Glenmark'st debt stood around Rs 40 billion, with a net debt-equity ratio of 0.6. The fund raised would be used to repay its debt and fund its R&D projects. Glenmark intends to set up a research and development (R&D) capacity for the new products.

With the major global blockbuster drugs going off patent, major Indian companies are working towards diverse pipeline in order to sustain their market share in the global markets. And towards the same, majority of them have been increasing their spending towards R&D projects.

In another news update, ITC is using its wide distribution network to expand its packaged food business. The company is planning to launch new products that are famous in a particular city or with a particular community. To give an example, it had recently launched a packaged fruit juice called Punjab da Kinnow. Knnow is a variant of orange grown in Punjab. A famous fruit in this region.

Further, ITC has laid down a strategy to increase its penetration in the products which are already doing well in their respective regions. Company is continuously working towards enhancing its quality and safety standards. It is also changing the package that can attract more customers. Going forward ITC is looking forward to sell products nationwide, once they gain popularity in their respective regions.

Moreover, the company is also launching more premium products that adhere to the European Union (EU) standards. Recently, the company launched 'Sunfeast Farmlite Digestive-a biscuit that has 'no maida and added sugar'.

Further, the company launched premium chocolate Fabelle to be sold at boutique stores in the company's luxury hotels. Earlier this year, ITC launched a sugar release control variant of Aashirvaad atta with low glycaemic index, which helps in managing blood sugar levels.

Given, the increasing acceptance of healthy products, demand for such products is on an increasing trend. The stock of ITC is trading higher by 0.7%.

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1 Responses to "Indian Indices Open Firm"

Saaroj Kumar Maheshwari

Jun 17, 2016

Operating first time.Still not able to handle.

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