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Realty stocks lead the rally
Tue, 30 Aug 11:30 am

Indian stock market indices continue to trade strong. Stocks in the Realty and Metal space are leading the gains. However, stocks in the Consumer Goods sector are facing selling pressure.

The BSE-Sensex is up by 190 points and NSE-Nifty is up by 60 points at the moment. BSE-Midcap and BSE-Small cap indices are up by 1.09% and 0.85% respectively. The rupee is trading at 45.98 to the US dollar.

Telecom stocks are trading strong with Reliance Communications and Idea Cellular leading the gains. As per a leading financial daily, there are not many takers for the recently introduced 3G (third generation) technology in India. Telecom companies had huge bets placed on this and despite their continuous efforts, they have not been able to lure the customers into subscribing for 3G plans. As per Nielsen, only 19% of all mobile subscribers are willing to try 3G and this number has remained stagnant since November last year. The main reason for the low interest lies in inadequate infrastructure and higher price plans as compared to the existing price plans under 2G. A few experts however believe that the service will pick up in time as operators create more awareness amongst the customers about it.

Power Stocks are trading in the green. All stocks in this sector are trading in the green except for Thermax and NTPC. According to a leading financial daily, state run National Thermal Power Corporation (NTPC) has entered into a joint venture with Indian railways to set up a 1,320 megawatt (MW) power plant in Purulia district of West Bengal. The total investment for the project is expected to be around Rs 770 bn. The two companies had already signed a memorandum of understanding (MOU) in October 2010. The project is unlikely to face any land acquisition problems as the 1,000 acres of land required for the project is already in the possession of Indian railways.

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1 Responses to "Realty stocks lead the rally"

sugumar

Aug 30, 2011

Very useful market
updates

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