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Following a negative trend since the opening of the trading day, the Indian indices have continued to remain under pressure in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the Auto and metal sectors trading in green while banking and capital goods are trading in red.
The BSE Sensex is trading down by 43 points (down 0.1%) and the NSE Nifty is trading down by 18 points (down 0.2%). The BSE Mid Cap index is trading up by 0.14%, while the BSE Small Cap index is up by 0.15%. Gold prices, per 10 grams, are trading at Rs 30,518 levels. Silver price, per kilogram, is trading at Rs 41,600 levels. Crude oil is trading at Rs 3,362 per barrel. The rupee is trading at 67.46 to the US$.
According to an article in The Financial Express, Tata Consultancy Services has entered into a joint venture with Sernova Financial to deliver next generation cloud based derivative post trade processing service. This technology will enable banks to effectively maintain compliance with the changing global regulatory environment while reducing risk. The services are delivered by Sernova on the Calypso platform with Business Process Services delivered by TCS.
The partnership will provide the customers benefits such as increased speed to market, movement from capital to operating expenditure (Subscription required), Enable regulatory compliance and access to global and regional critical control points.
TCS recently also collaborated with Central University of Rajasthan to offer a two-year program in Big Data Analysis. The course is designed by eminent experts in Data Science and Data Analytics from academia and industries with initiative from the TCS. TCS is currently trading down by 0.3% on the BSE.
Stocks in the FMCG sector are trading on a mixed note with Gillette India and Pidilite Industries leading the losses. As per an article in The Economic Times, Nestle India is set to launch nearly 25 new products in the market. The motive behind launching diversified product range is to resist any competition from rivals. The company will penetrate into consumer segment, targeting babies, women, adults and urban markets. The launch period is brought down to 4-months from 10-12 months to keep pace with changing aspects.
The range of products comprise seven variants of Maggi, Greek yogurt brand 'Grekyo' and protein growth brand 'Pro-Gro' in dairy segment. Products in chocolate and confectionery and also new offerings in coffee and tea are also a part of launch.
The instant noodles market in India is estimated to be Rs 20 billion with Yippee, Wai Wai and Patanjali Noodles among major players besides Maggi. Nestle stated that Maggi still enjoys 55.5% share in the noodles market compared to 77% before ban.
Nestle has a long way to go for recovering the 5 billion losses it had to bear after the ban. Two cases are still pending. Nestle is trading down by 0.05% while writing.
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