Backed by persistent buying in index heavyweights, Indian share markets continued to soar higher in the post-noon trading session. Barring metal, all the sectoral indices are trading in the green with realty, IT and FMCG stocks being the biggest gainers.
Majority of the food stocks are trading in the green with Golden Tobacco and ITC being the biggest gainers. As per a leading financial daily, GlaxoSmithKline Consumer Healthcare (GSKCH) is launching Eno brand in the liquid and tablet versions to cement its leadership position in the digestive anatacid market. Eno is presently available in the powder form and has a 41% market share. Eno is growing at 30% per annum and constitutes 7-8% of GSKCH's overall turnover. As per the company, the liquid and tablet formats constitute 55% of the total digestive market in India and thereby presents a huge market potential. GSKCH stock is currently trading 1.2% up.
Most of the telecom stocks are trading in the green with ADC India and AGC Networks leading among gainers. As per a leading financial daily, Bharti Airtel has raised its stake by 2% in all the four Indian broadband wireless access (BWA) entities of Qualcomm AP. As a result all the four entities have become subsidiaries of Bharti Airtel. In May 2012, the company had acquired 49% share in Qualcomm AP's entities in India. The acquisition granted Bharti Airtel licence to offer 4G data services in four circles of Delhi, Mumbai, Haryana and Kerala. Additionally, the company has licence to offer high-speed broadband service in four telecom circles of Kolkata, Maharashtra, Punjab and Karnataka. Bharti Airtel stock is currently trading up by 1.8%.