After opening firm, the Indian Markets continued to trade positively. Most sectoral indices are trading in the green with stocks from the banking, IT and energy sectors leading the gains.
The BSE-Sensex is trading up 325 points (up 1.2%) and the NSE-Nifty is trading up 109 points (up 1.4%). The BSE Mid Cap index is trading and the BSE Small Capp index are trading positively, both up by 1.4%. The rupee is trading at 66.09 to the US dollar.
Most telecom stocks are trading positively with gains led by Reliance Communications and Bharti Airtel. As per a leading financial daily, Bharti Airtel and India's third largest telco Idea Cellular, have cornered maximum incremental revenue market share (RMS) in the first quarter of 2015-16. The same was witnessed on back of strong data services penetration and revenue growth. Market leader Bharti Airtel captured the highest incremental RMS of 34% in the April-June quarter, while that of Idea Cellular grew to 32.8%. A company's incremental RMS, as a key performance metric, reflects the portion of increase in industry revenue that accrues to the telco. The stock of Bharti Airtel is trading up by 2.8% while that of Idea Cellular is trading up by 1.8%.
Pharma stocks are also trading on an encouraging note with Dishman Pharma and Wockhardt Ltd witnessing maximum buying interest. Leading generic drug maker Cipla is expecting a 20% growth in revenues in the current fiscal. Further the company in its AGM reported that it is in a significant investment phase for the future and that its pipeline of projects is secure with more than 80% of crucial launches on the track. The company's turnover has doubled in last five years to Rs 110 bn in FY15. Cipla has its presence in over 150 countries with a portfolio in excess of 1,500 products. The stock of Cipla is trading up 1%.