Indian Indices are trading positively in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the FMCG and mining sectors being the major losers.
The BSE-Sensex is trading up by 59 points (0.2%) and the NSE-Nifty is trading up by 25 points (0.3%). The BSE Mid Cap index and BSE Small Cap indices are trading marginally up. Gold prices, per 10 grams, are trading at Rs 24,694 levels. Silver price, per kilogram, is trading at Rs 33,467 levels. Crude oil is trading at Rs 2,879 per barrel. The rupee is trading at 63.79 to the US dollar.
Stocks in the engineering sector are trading mixed with Manugraph India and BGR Energy witnessing maximum selling pressure. As per a leading financial daily, technology, engineering, construction and manufacturing company Larsen & Toubro (L&T) has sought shareholders nod to raise up to Rs 36 bn through issue of securities. This is in order to meet its capital requirements of its growing business. Further, on a separate note, the company has divested its entire 13.66% stake in Salzer Electronics in a bulk deal through an open market transaction. Stock of Larsen & Toubro is presently trading up by 1.6%.
Pharma stocks are trading on a mixed note with Natco Pharma and Strides Acrolab leading the gains. According to financial times, Dr Reddy's Laboratories has entered into a strategic collaboration with Amgen to market and distribute three of its medicines in India in the areas of oncology and cardiology. Amgen is one of the world's leading independent biotechnology companies. The collaboration leverages the capabilities of both companies by combining three of Amgen's innovative therapies with Dr. Reddy's deep understanding of patient and physician needs in India. Currently the stock of Dr Reddy's Laboratories is trading up by 2.4%.