After opening the day in the red, the Indian Markets have moved upwards and are trading positively. Sectoral indices are trading on a mixed note with stocks from the pharma and energy sectors leading the gains. However auto stocks are witnessing selling pressure.
The BSE-Sensex is trading up 50 points (up 0.2%) and the NSE-Nifty is trading up 26 points (up 0.3%). The S&P BSE Midcap index is trading up by 0.5% while the S&P BSE Smallcap index is trading up 0.3%. The rupee is trading at 66.29 to the US dollar.
Cement stocks are trading mixed with Heidelberg Cement and Ambuja Cement witnessing maximum buying interest. As per an article in Economic Times, Ultra Tech Cement is all set to take its capacity to 71.2 million tonne per annum (MTPA) by March 31 next year on the back of ongoing projects and recent acquisitions. The directors of the company have approved the acquisition of the cement units of Jaiprakash Associates Limited which are situated at Bela and Sidhi in Madhya Pradesh. With this an additional capacity of 4.9 MTPA and thermal power generation capacity of 180 MW will be added. Further, the company has augmented its captive power capacity with the commissioning of 50 MW of thermal power plants and 22.5 MW through waste heat recovery. Stock of Ultra Tech Cement is trading flat.
Stocks in the engineering space are also trading on a mixed note with Voltas and Alstom Projects leading the losses. L&T Construction's Water & Effluent Treatment Strategic Business Group, a subsidiary of Larsen & Toubro (L&T), has won turnkey orders worth Rs 14.8 bn in August 2015. These were in three packages, from Public Health Engineering Department, Ajmer, under the Rajasthan Rural Water Supply and Fluorosis Mitigation Project (Nagaur). The projects are funded by Japan International Cooperation Agency (JICA) and are aimed at providing potable water to 986 villages, seven urban towns in Nagaur district, 111 villages and 2 towns of Bikaner district in Rajasthan. Scrip of L&T is trading up by 0.4% on the BSE.