The BSE-Sensex is trading up by 60 points while NSE-Nifty is trading 14 points above the dotted line. The BSE Midcap and BSE Small cap indices are up by 0.7% and 0.6% respectively. The rupee is trading at 45.02 to the US dollar.
Software stocks are currently trading mixed with CMC Ltd, Oracle Financial Services Software Ltd and Mphasis Ltd leading the pack of gainers. However, Wipro and HCL Technologies Ltd are trading weak. As per a leading financial daily, HCL Technologies has signed an agreement with New Zealand-based banking and finance software solution company Finzsoft Solutions Ltd. to deliver new high value technology solutions to the region's finance sector. As per the management, the goal is to continue capitalizing on already strong market share in Asia Pacific as well as expand their collective businesses in both developed and developing markets including Australia, New Zealand, India and Malaysia. Under the agreement, HCL will provide the banking solutions, including full life cycle, core and vertical banking and financial product solutions backed by world class systems integration and transformational services while Finzsoft will lead the core and vertical solutions.
Auto stocks are trading mixed as well led by Bajaj Auto, Tube Investments and Escorts. Hero Honda and Force Motors are trading in the red. As per a leading financial daily, Tata Motors Ltd. has challenged Calcutta High Court's order. The High Court had earlier refused to pass an interim stay on the company's plea that land in Singur would be distributed to the unwilling farmers from Tuesday. The company has stated that this is an exceptional case and any distribution of land to the farmers will be irreversible. The Supreme Court will hear their plea tomorrow. The company strongly disagrees Ms Bannerjee's accusation in the Singur bill of non-commissioning and abandoning their project. The company had earlier come up with a statement that the operation of setting up and commissioning of the plant was conducted under difficult conditions without any guarantee of a safe environment because of which it had to reluctantly close its operations in October 2008. The stock of the company is trading flat.