Indian equity markets continued to trade in positive territory during the post noon trading session. Barring stocks from automobile sector, all the sectors were trading in green. The most upward movement was witnessed in the stocks from consumer durables and realty sectors.
Engineering stocks are trading mixed with Welspun Corporation and Sanghvi movers witnessing maximum selling pressures, while Manugraph India and BHEL are the top gainers. As per the financial daily, State run company Bharat Heavy Electricalhas (BHEL) bagged two contracts from National thermal power corporation (NTPC). These contracts are of worth Rs 1320 m for solar projects at Unchahar in Uttar Pradesh and Talcher in Odhisha. Reportedly, the contracts are for setting up two eco-friendly, Grid connected solar power plants of 10 MW capacity each. The company has commenced the supplies for both the projects. The first consignment, is comprising of SPV (Solar photoVoltatic) modules. These modules are manufactured at the manufacturing facility located at Bengalaru. The company intends to expand this facility. BHEL was trading up by 2.8%
Most of the Automobile stocks are trading in red, with Tube investments and Tata motors are the leading losers. As per the financial daily, Tata motors will be soon launching LCV (Light commercial vehicles) in Australia. The company has entered into agreement with the local distributor Fusion automotives. As per the deal, Fusion automotives will have exclusive marketing and distribution rights to sell Tata's vehicles in Australia. Reportedly, initially it will start selling some range of commercial vehicles during the fourth quarter of 2013. Further, as per the management of Fusion, the car models proposed by Tata's will be priced competitively and also well equipped. Tata motors was trading down by 0.9%.