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Indian markets trade positively
Tue, 1 Jul 11:30 am

After opening in the green; the Indian Indices are trading above the dotted line in the morning session. Auto and Engineering stocks are leading the gainers today.

The BSE Sensex is trading up 75 points and the NSE-Nifty is trading up 18 points. The BSE Mid Cap index is trading up 0.6%, while the BSE Small Cap index is trading up 1.1% today. The rupee is trading at 60.1 to the US dollar.

Most Auto Ancillary stocks are trading higher today. Bharat Forge and Sundaram Clayton are leading the gainers. The stock of Wabco India has hit an all time high on the bourses. As per a leading financial daily, the government is considering a proposal to make anti-lock braking systems (ABS) compulsory for all new models of commercial vehicles. The new regulation could come into effect from April 2015. The company is India's largest manufacturer of braking systems. This move by the government if it were to happen will certainly help Wabco strengthen its presence in the segment further. Wabco is trading up 0.7% today.

Food & Tobacco stocks are trading mixed today. While Britannia Industries is trading firm Agro Tech Foods is trading in the red. The Kolkata based tobacco to hotels diversified major ITC reported in its BSE filing that its scheme of demerger of the non-engineering business of its subsidiary Wimco, for merger with itself has received court's approval. Wimco's non-engineering business comprises of safety matches and agri (forestry) business. Apart from that the company's engineering division comprise of manufacture of packaging machinery. Wimco was once a listed company on the Indian bourses, which got delisted on acquisition by ITC. ITC currently holds 98.21% indirectly in the company. The stock of ITC is trading flat today.

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