The BSE Sensex is trading up 275 points and the NSE-Nifty is trading up 85 points. The BSE Mid Cap index is trading up 1.4%, while the BSE Small Cap index is trading up 1.3% today. The rupee is trading at 60.06 to the US dollar.
Most Software stocks are trading higher today. HCL Technologies and Tech Mahindra are leading the gainers. India's fifth largest software firm Tech Mahindra, has announced the opening of a new Centre of Excellence (CoE) at Tech Mahindra's Hinjewadi facility in Pune. With this move the IT Company has operationalised its strategic alliance with Comptel Corporation which was announced earlier this year. The CoE is focused on developing and enabling communications service providers (CSPs) with solutions that will support their service innovation and delivery objectives. The center will cater largely to the Telecom vertical of the company. Tech Mahindra is trading up 0.8% today.
Most Telecom stocks are trading higher today. Tata Teleservices and Idea Cellular are leading the gainers. In a big development in India's Telecom sector Reliance Communications and the new entrant, Reliance Jio Infocomm (R Jio), are reportedly considering expanding their collaboration to increasingly function as one telecom business. As per news reports, the companies could agree to enter pacts for the sharing of spectrum as well as infrastructure. It must be noted that the two firms have already signed agreements covering the sharing of tower and fiber optic networks. The extended alliance could cover infrastructure maintenance, common NOCs, data centers and retail outlets, as well as intra-circle spectrum sharing agreements as and when the rules are changed to permit them. R Jio has already committed Rs 700 bn for its Telecom foray.