Backed by persistent buying activity, Indian equity markets continued to trade strong during the post noon trading session. Barring stocks from the IT sector; all the sectoral indices are trading in the green. The most noticeable upward movement is being witnessed in the stocks of Realty and Power sector.
Majority of the FMCG stocks are trading in the green with P&G Hygiene and Lakshmi Energy being the major gainers. However, Marico and Emami are a few stocks trading in the red. As per a leading financial daily, Procter & Gamble (P&G) will be making its foray in the toothpaste segment under the Oral-B brand. Reportedly, Oral-B is the leader in the international brushing segment and is one of P&G's billion dollar brands. The company has a toothpaste portfolio under Oral-B which sells in countries such as Greece, Portugal, Israel and Venezuela. The toothpaste will be launched in the Indian market tomorrow. Colgate dominates the Indian toothpaste market with market share of 55.4%. Colgate competes with P&G in most markets across the world. Colgate is likely to increase investments behind its oral care brands in India in the light of P&G's entry. Colgate stock is currently trading down by 0.5%.
Most of the Indian pharma stocks are trading in the green with Panacea Biotech and Wockhardt Ltd leading the gainers. As per a financial daily, Cipla Ltd has received approval from takeover and regulations panel for its proposal to acquire Cipla Medpro in South Africa. The operative date of the said proposal is expected to begin from mid July. Post the acquisition, from 16th June 2013 onwards, the shares of Medpro will be delisted from Johannesburg stock exchange. Cipla and Medpro were in discussion regarding the said acquisition. In May 2013, Medpro's shareholders had given the green signal to Cipla for a 100% stake sale at US$ 488 m. Reportedly, approximately 90% of Medpro's supplies come from Cipla. Cipla was trading up by 0.5%.