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Indian markets remain range bound
Fri, 17 Jul 01:30 pm

Indian indices are trading slight above the dotted line in the post noon trading session. Sectoral indices are trading mixed with stocks from the engineering and banking sectors leading the gainers. However, software stocks are witnessing maximum selling pressure.

The BSE-Sensex is trading up 35 points (up 0.1%) and the NSE-Nifty is trading up 4 points (up 0.1%). The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up 0.6%. Commodity prices are trading on a negative note. Gold price, per 10 grams, is trading at Rs 25,742 levels. Silver price, per kilogram is trading at Rs 34,490 levels. Crude oil is trading at Rs 3,242 per barrel. The rupee is trading at 63.48 to the US dollar.

Engineering stocks are trading mixed with BEML Ltd and Punj Lloyd leading the gainers. According to financial times, Titagarh Wagons has announced its foray into metro coach and high-speed train manufacturing with the acquisition of the Italy-based Firema Transporti. By this acquisition the company is planning to aggressively participate in upcoming tenders for manufacturing metro coaches both in India and globally. Further on a separate note, the company has successfully raised Rs 1.5 bn through issuance of equity shares by way of qualified institutional placement. The stock of Titagarh Wagons is currently trading up nearly 10%.

Stocks in the textile space are trading on a mixed note with Welspun India and Arvind Ltd witnessing buying interest. As per a leading financial daily, chemical-based industrial intermediaries manufacturer SRF Ltd is going to seek shareholders approval to raise Rs 20 bn. This will be raised through issuance of redeemable non-convertible debentures in one or more series on a private placement basis. The purpose for this, as stated by the company, is in order to supplement its capital expenditure and for general corporate purposes. Presently, the stock of the company is trading up by 0.6%.

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